Withdrawal of a Corporation

Definition - What does Withdrawal of a Corporation mean?

A withdrawal of a corporation is a document that a corporation is legally required to file in a state where the corporation did business and where it intends to cease trading.

Effectively, after the date the document is filed, the corporation is no longer able to avail of any tax breaks relating to being in operation within the state.

Justipedia explains Withdrawal of a Corporation

Each state has different laws that govern the withdrawal of a corporation; however, in all states after the document is filed, if the corporation is sued in that state, then the process server can send the court documents to the Secretary of State, who is then tasked with accepting them on behalf of the corporation and sending them on.

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