The process of predicting or evaluating business failures is
complicated by the myriad contributing factors to be considered. For
example, the ratio of business successes to business failures can vary
widely depending on the industry involved. Regardless of the fact that there
exist complex formulas for predicting the failure rate, years ago it was
said that roughly 6 out of every 10 business failed in the first 5 years.
Recent information from the University of Michigan estimates that "more
than 80 percent of new firms in the United States end up failing and
about 10 percent of all American companies fold each year." The University
Record (3/10/08).When a business fails, certain procedures must be
followed just like when a business starts. Small businesses, in particular,
are notorious for ignoring the dissolution/cancellation procedures and most
law offices are familiar with the way the Secretary of State and the Ohio
Department of Taxations follows up on businesses that stop filing their
periodically required forms and returns.
Ohio Business Dissolution Kit (OBDK) is designed to
organize and streamline the process of dissolving an Ohio business. The goal
is to maximize your efficiency by helping you to complete and file the
necessary forms and notices in a minimum amount of time. OBDK
does this by assembling all the necessary forms and guiding you through the
dissolution process.
It's Not Just The Forms —
Sure, some of these forms are available on the Internet, but remember,
OBDK lets you save your all these documents in one file as a set.
Furthermore, most of the forms complete themselves significantly reducing
your preparation time and eliminating errors. If you're currently using
available Internet forms or your own word processing templates, OBDK
will be a tremendous time-saver.
Word Processor Compatibility —
One click of the mouse and you're in your word processor looking at a
completed document. Not only can you edit your answers, but the forms themselves
can be modified! Old English fonts, character and paragraph formatting—the
only limit is your own word processor's fonts
and features.
Customizable Documents and Defaults
— Like all our other programs, there's a Default file through which you can preset unchanging information like the preparer's name,
address, telephone number, etc. This feature lets you avoid needing to
type your office/preparer information over and over again.
Network Friendly — OBDK
is easy to set up for network centralization of
documents and templates. The two advantages of this method are document sharing
and simplification of the backup process.
Context-Sensitive Help — You can
press <F1> on any menu command and be transported instantly to the appropriate help
topic.
Pop-Up Menus — Right-click your
mouse button to access pop-up menus for common functions like saving files,
starting new files, previewing and printing documents.
Dissolution Forms & Letters
Corporate Resolutions
- Action by Shareholders
- Action by Directors
Ohio Secretary of State
- Form 560 - Domestic Nonprofit Corporations - Certificate of Dissolution
- Form 561 - Domestic & Foreign For Profit Corporations - Certificate of
Dissolution
- Form 562 - Limited Liability Companies - Certificate of Dissolution,
etc.
- Form 563 - Limited Partnerships - Certificate of Cancellation, etc.
- Filing/enclosure letter
Ohio Department of Taxation
- Form D-5 Notification of Dissolution or Surrender
Internal Revenue Service
- Form 966 - Corporate Dissolution or Liquidation
Miscellaneous Letters & Notices
- County Treasurer Notice
- Ohio Bureau of Worker's Compensation Notice
- Ohio Department of Job & Family Services Notice
- Notice to Claimants and Creditors
- Client Instruction Letter
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