Law Offices of

Bernard C. Dietz, PC

Blog Home About Us Contact Us Terms & Conditions
Business Services
Virginia Biz Law Blog
Form a Virginia LLC
Form a Virginia corporation
Form a Benefit Corporation
Registered Agent Services
Buying & Selling a Biz

Information box
Contact me today to discuss how I can help your business succeed.  I can be reached by telephone - 804-290-7990 - or email -

  • Blogroll


    Archive for July, 2007

    I have discussed how to form a Virginia LLC and Virginia corporation before, which is definitely a hot topic.  But I also get questions from company owners regarding how to properly "shut down" or dissolve their limited liability company or corporation. The process is similar for both types of entities but has some differences worth noting.

    If you would like to shut down your Virginia LLC, the first step is to wind up the affairs of the LLC.  This involves collecting all of your outstanding accounts receivables (money that is owed to you), paying all of the LLC’s bills (money the company owes to others – wages, vendor invoices, rent, etc.), and distributing the excess (or profits) to the LLC members per the terms of your Operating Agreement.  Once that is done, the LLC files Articles of Cancellation with the Virginia State Corporation Commission.  The Virginia SCC will process the Articles and send back a Ceritificate of Cancellation stating the effective date of termination.  Once you have that, the LLC is done.  Be sure not to do any business under the LLC name after that point.

    If you would like to shut down your Virginia corporation, you start by filing Articles of Dissolution with the Virginia State Corporation Commission.  Once you have filed Articles of Dissolution, the only activity allowed to be done by the corporation is the "winding up" of its affairs.  Like with an LLC above, this means amounts due to the corporation are collected and bills are paid.  Once this is completed, the corporation files Articles of Termination with the Virginia SCC that end its existence.  The Virginia SCC will then return a Certificate stating the effective date of termination to you and the corporation no longer exists.

    The above information just relates to the organizational issues involved with terminating your existence.  There are also tax issues that must be dealt with as part of this process, which a good CPA should be able to help you navigate.

    Posted: July 13th, 2007 at 7:36 am | | Email Post |
    Help others find this article at:

    Posted by Bernie Dietz
    Categories: FAQ

    Forbes Magazine’s latest issue proclaims Virginia as the #1 state for businesses for the second year in a row.  The article states that Virginia finished in the top 10 in four of the six main categories that Forbes tracks, with a pro-business regulatory environment, strong labor conditions, great growth prospects, and a high quality of life.

    You can read all of the Virginia ranking specifics on the Forbes web site .

    Posted: July 12th, 2007 at 7:16 am | | Email Post |
    Help others find this article at:

    You are currently browsing the Virginia Business Law Blog weblog archives for July, 2007.


  • Categories

  • Monthly Archives


    Law Offices of      Bernard C. Dietz, PC

    Send us an or call us today

    "Bernie Dietz has been my business advisor since 1999. I don't negotiate or even consider a deal without his advice and guidance. He writes all my contracts. Bernie keeps me away from bad deals, and he helps shape every deal so it's profitable... [more]

    Nick Corcodilos"

    Registered Agent
    Need a Registered Agent?  Have a Virginia lawyer serve as your registered agent. We offer services for foreign and domestic companies in Virginia - click here for more info
    Copyright 2007-18 Bernard C. Dietz, PC. All rights reserved

    DISCLOSURE: The information obtained in this website is for general information purposes only and should not be construed as legal advice. Each legal issue is different and the information contained on this website may not apply to your case. No attorney-client relationship is formed by reading this website or by sending email to The Law Office of Bernard C. Dietz, PC.