Partnership Dissolution/Corporation and Limited Liability Company Dissolution

There's a rise of divorces this pandemic, and so, too, are business divorcers on the rise! Partnership dissolution refers to the termination of a partnership as well as the cessation of its various business activities. ... When a partnership dissolves, the partners share equally when it comes to profits and gains; however, they also share equally in the distribution of losses as well. Dissolution of a Corporation is the termination of a corporation, either a) voluntarily by resolution, paying debts, distributing assets, and filing dissolution documents with the Secretary of State; or b) by state suspension for not paying corporate taxes or some other action of the government. The rights and responsibilities regarding the dissolution of a corporation is generally