Dissolution of the Company
In times of uncertainty like today, there are many reasons why you may be forced to close your business voluntarily. Whether due to financial needs or changing goals. When this happens, this process can be known as dissolution.
To dissolve the company in Ontario, you need to take some steps, such as closing all company tax and commercial accounts. In addition to proving that all records on payroll and taxes are adequately documented, you will need to gather many documents and fill out the necessary forms for this.
Dissolving a company that only does business in Toronto is different than dissolving a company that does business across Ontario. To dissolve a company that does business in other provinces, you will need to follow federal laws. However, it can be complex to dissolve a company due to the documents you will need to prove. In general, what needs to be done is to follow provincial or federal legislation, according to your business scenario.
At Juzkiw Law, we have experience as a business lawyer with provincial and federal dissolution laws, so we can assist you in making this process less bureaucratic and safe. Call us for more information about how works the dissolution of the company in Ontario – 416-221-2221