Dissolution: Glossary Definition

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Definition of Dissolution:

“Dissolution” is the legal term describing the termination of a corporation’s or LLC’s (or other type of business entity) legal existence. Dissolution may occur voluntarily or involuntarily. Voluntary dissolution may occur when the entity files a certificate of dissolution with the Secretary of State in the entity’s state of formation. Involuntary dissolution may occur when a company fails to file annual reports or pay certain taxes.

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