When it comes to closing a business in Washington State, it can be an overwhelming process. There are many steps to take and different tax requirements depending on the type of business. Knowing the best practices and steps to be taken can help make the process run smoothly. In this article, we will answer the question “How to close a business in Washington State”, and provide some helpful tips and tricks.

What Do I Need To Know About Closing a Business in Washington State?

To close a business in Washington State, you must submit a Revenue Clearance Certificate Application and wait for processing. Then, fill out Articles of Dissolution for an LLC or a domestic corporation. The Certificate of Dissolution form and the Articles of Dissolution form can both be submitted to the Secretary of State by mail, fax, or in person. Depending on the business, you may need to contact your attorney and accountant for assistance with closing a business in Washington State.

Best Practices and Steps to Close a Business in Washington State

The following are the best practices and steps to be taken if you choose to close a Washington State business:

  • Contact your attorney and accountant.
  • Collect the assets of the business.
  • Submit a Revenue Clearance Certificate Application.
  • Wait for processing.
  • Fill out Articles of Dissolution.
  • Submit the completed Certificate of Dissolution form and the Articles of Dissolution form to the Secretary of State.

Closing a business in Washington State can be a complicated process, so it’s important to take the necessary steps to ensure that it is done accurately and in a timely manner. It’s also important to remember that the tax requirements vary depending on the type of business.

For more information on how to close a business in Washington State, or for answers to all your questions about selling a business and about business brokers, check out Atlantabusinesses.com.

What is the process for shutting down a business with the Washington Secretary of State?

Submit an application for a Revenue Clearance Certificate and wait for processing. Afterwards, fill out the Articles of Dissolution, attach the certificate, and submit the Articles. After that, you must wait for processing again, then inform your registered agent of the dissolution.

What is the fee to close an LLC in Washington?

Limited Liability Companies (Title 25.15 RCW): Termination/Abrogation: No charge; Reinstatement: $140 plus any missed annual report fees; Original or Changed Yearly Report: $10; Yearly Report: $60.

How should a business be shut down correctly?

1
Submit your final tax forms and other related documents.
2
Attend to the needs of your staff.
3
Pay the taxes you are liable for.
4
Submit reports to any independent contractors you have worked with.
5
Terminate your Employer Identification Number and close your IRS business account.
6
Retain your records.

What is the process for dissolving an LLC voluntarily in Washington state?

To terminate your LLC in Washington State, you must submit the completed Certificate of Dissolution form to the Secretary of State via mail, fax, or in person. After dissolution, your LLC is not allowed to conduct any business activities in Washington other than those necessary to conclude its affairs.

Do I have to sign up my business from another state to operate in Washington state?

Businesses that are not based in Washington State but are conducting business within the state must register as a “foreign” entity in Washington. This applies to all types of entities, such as limited liability companies, corporations, and more.

What advantages are there to shutting down a business?

If you shut down, there are several options for reducing expenses and improving your situation, such as relocating, taking a break, recruiting more qualified personnel, and devising a new plan.