What steps should I take to dissolve my business in Georgia?

To dissolve a business in Georgia, follow the steps below:

1. Hold a Meeting: If your business is a corporation or an LLC, hold a meeting to vote on the dissolution. The number of votes required to approve the decision should be as per the agreement or bylaws of the entity.

2. File Articles of Dissolution: File Articles of Dissolution with the Secretary of State. Articles of Dissolution can be filed online or by mail. The form should include the name of the entity, its date of incorporation, the reason for dissolving, and the effective date of dissolution. There is a $100 filing fee for the Articles of Dissolution.

3. Cancel Business Licenses: Cancel any licenses, permits, or registrations that the business holds with state or local government agencies. Cancel any business-related tax accounts including sales tax, franchise tax, and state income taxes.

4. Notify Creditors and Lenders: Notify creditors and lenders of the dissolution and settle all outstanding debts and loans. It is recommended to hire an accountant or financial adviser to help with the settlement of financial obligations.

5. File Final Tax Returns: File final income tax returns for the business and pay any outstanding taxes owed.

6. Distribute Assets: Distribute any remaining assets to shareholders or members as per the agreement or bylaws of the entity.

7. Notify Employees: Notify all employees about the dissolution and pay any final paychecks, vacation pay, or other benefits owed to them.

Note: If the business has any pending legal proceedings, it is advisable to consult with an attorney before dissolving the business. Also, if the business is a partnership or sole proprietorship, the process for dissolution might differ.