What steps do I need to take in order to legally dissolve my business in Ohio?

To Legally Dissolve a Business in Ohio

There are several steps that need to be followed:

1. File Articles of Dissolution - Ohio law requires businesses to file Articles of Dissolution with the Ohio Secretary of State's office. This document states that the business is voluntarily terminating its existence.
2. Notify Creditors and Claimants - The business must also notify its creditors and claimants of the dissolution through a written notice or publication in a local newspaper. This gives them an opportunity to file any necessary claims against the business before it is dissolved.
3. Settle Obligations - The business must settle all of its obligations, including debts, contracts, and leases, before it can be dissolved. This includes paying any outstanding bills, returning leased property, and cancelling any contracts or agreements.
4. Obtain Tax Clearance - The business must obtain a tax clearance from the Ohio Department of Taxation before it can be dissolved. This verifies that all taxes owed by the business have been paid in full.
5. Cancel Business Licenses and Permits - The business must also cancel any licenses or permits it holds with the state or local government.

Note that there may be additional requirements depending on the type of business and its specific circumstances. It is recommended to consult with a licensed attorney to ensure all necessary steps are taken to legally dissolve the business.

Additionally, it is important to keep in mind that just because a business is dissolved, it does not necessarily mean that its owners or officers are released from any legal liability. There may be ongoing obligations or lawsuits that the business must still address, and it is recommended to seek legal advice to understand any potential liabilities or risks.