What's the cost and paperwork of dissolving a Delaware corporation?


1

I have been working with my co-founder for the past year and recently we decided to part ways. However, about 2 months ago we incorporated our business in Delaware. Each of us is starting from scratch and doing our own thing and want to dissolve this incorporation and start with a clean slate.

  1. What's the cost of dissolving a Delaware corporation and are there
    any by-product fees?
  2. What's the paperwork that needs to be done? Can this be done online?

Thanks for any help.

Incorporation Startup Costs Cost Legal Legal Documents

asked Nov 21 '12 at 06:01
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Rjgonzo
157 points
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1 Answer


1

Sorry, but there is not a short, definitive answer to your question.

You need to decide which of the several dissolution forms ( http://corp.delaware.gov/corpformscorp09.shtml ) to use based on the applicable provisions of the Delaware General Corporation Law ( http://delcode.delaware.gov/title8/c001/sc10/index.shtml ) given your corporation's circumstances.

Each dissolution form is accompanied by a statement of the applicable filing fee. In addition, you need to make sure all taxes are paid and any other debts or obligations are taken care of.

Disclaimer: This information does not constitute legal advice and does not establish an attorney-client relationship.

answered Nov 21 '12 at 10:57
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Dana Shultz
6,015 points
  • Given our circumstances we fall under `Dissolution before issuance of shares` and we'll be submitting a #274. Thanks! – Rjgonzo 9 years ago
  • My pleasure.... – Dana Shultz 9 years ago
  • Note: We had to pay something called franchise tax, apparently ia an annual fee that is required before dissolution. For any company doing less than a $1 million in revenue the fee is $400. – Rjgonzo 9 years ago

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