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Plano Business Dissolution Lawyer

Roquemore Skierski provides Plano business owners with guided business dissolution assistance. 

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Plano Business Dissolution Lawyer

Business Dissolution Attorneys in Plano

Business dissolution is the legal process of formally ending or unwinding a business entity. Companies may dissolve for a range of reasons, including a planned transition, disagreement among owners, administrative compliance issues, or the expiration of the governing documents. Whether the closure is intentional or the result of internal pressure, dissolution introduces complex legal and financial responsibilities that require steady, informed representation.

 

Roquemore Skierski PLLC’s Plano business dissolution lawyers work with owners, executives, and investors across Collin County and throughout Texas. Our clients tend to be closely involved in daily operations and rely on practical legal guidance that reflects their priorities and helps them protect what they have built.

 

When we take on a dissolution matter, we focus on structure and clarity. Whether your situation requires defending your position or pursuing decisive action to secure your interests, we develop strategies grounded in real business conditions. We understand what is at stake. Your financial exposure, reputation, time, and future opportunities all play a role in how the dissolution is managed, and we work to safeguard them.

What Does Business Dissolution Mean in Plano

Business dissolution refers to the formal termination of a company’s legal existence in Texas. The process may begin voluntarily when owners choose to close the business, or involuntarily through administrative action or court involvement. Once completed, the entity no longer incurs ongoing obligations such as franchise taxes, state filings, or compliance penalties.

 

For Plano companies, dissolution typically involves notifying the Texas Secretary of State, closing all state tax accounts, and coordinating with lenders, vendors, landlords, and other parties with outstanding claims. Ending operations is not enough on its own. Until you complete each statutory requirement, the entity continues to accumulate obligations and risks that may affect owners long after operations have stopped.

The Three Steps Required To Shut Down a Company in Plano

Shutting down a business generally involves three primary steps:

 

  • Legally dissolving the company in the state of formation
  • Winding up the company affairs
  • Shutting down and distributing assets to investors

 

Once the dissolution decision has been authorized, the winding-up period begins. This includes collecting outstanding receivables, addressing creditor claims, reviewing leases and service agreements, and issuing final compensation and benefits to employees. Business owners should reconcile accounts, store required records, and resolve secured obligations so liens can be released.

 

Only after all debts, liabilities, and contractual obligations are addressed should remaining assets be distributed according to the operating agreement, bylaws, or partnership agreement. Plano companies may also need to cancel assumed names in Collin County, terminate payroll and sales tax accounts, and withdraw from other states where the business maintained registrations.

How Do Voluntary And Involuntary Dissolution Differ?

Voluntary dissolution occurs when owners decide to close a business through a formal vote or written consent, while involuntary dissolution is triggered by a legal or administrative action, often due to noncompliance or internal deadlock.

 

Administrative or involuntary dissolution can occur when a company fails to file franchise tax reports, maintain a registered agent, or comply with state requirements. Even after this action, the entity typically retains the authority to wind up, though reinstatement deadlines may apply. Voluntary dissolutions allow owners to prepare, negotiate final obligations, and minimize future risk through a planned and organized exit.

How Long Does It Take To Dissolve A Business In Plano?

 The winding-up phase may take several weeks or months depending on the complexity of the business, its outstanding liabilities, and the cooperation of financial institutions or counterparties. Filing the Certificate of Termination usually takes only a few business days once tax clearance is secured.

 

The total timeline depends on how quickly tax accounts can be closed with the Texas Comptroller, how long it takes to resolve outstanding debts, and whether the business must withdraw from other states. Plano businesses with multi-state operations should expect additional time to complete foreign withdrawals and prevent future annual fees.

What Happens To Debts And Contracts After A Business Is Dissolved?

Business dissolution does not eliminate existing obligations. Debts, leases, and contractual agreements remain enforceable until they are resolved or formally terminated. Creditors may still seek recovery, and many commercial contracts contain survival provisions covering confidentiality, indemnity, intellectual property, or dispute-resolution terms that continue after dissolution.

 

Plano business owners should review contracts to determine whether they can be assigned, renegotiated, or terminated, and whether personal guarantees remain in effect. Confirming the release of liens and satisfying secured obligations helps prevent future claims and personal exposure. A structured approach to evaluating debts and agreements is essential to a clean and compliant dissolution.

Attorney Kelvin Roquemore

Kelvin Roquemore

Business Dissolution Lawyer

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Navigating a business dissolution in Plano can be tough

Roquemore Skierski PLLC provides disciplined and strategic representation to Plano businesses facing dissolution. Our business litigation attorneys understand the pressures companies encounter during transitional periods and deliver practical, focused counsel aimed at protecting long-term interests.

 

We pair legal knowledge with a personalized approach, ensuring each client receives a strategy suited to their operational and financial circumstances. Our priority is preserving your stability and guiding you through each step of the dissolution process.

 

Whether you are planning a voluntary wind-down or responding to a forced closure, our Plano business dissolution lawyers are prepared to assist you. We help business owners throughout Texas evaluate their options, resolve disputes, and achieve a clean and compliant exit.

While our business litigation attorneys are based in downtown Dallas, we proudly serve business owners across in Plano and beyond, including Allen, Lucas, Murphy, and Wylie. Whether your company is facing a contract dispute, partnership conflict, or other commercial challenge, we deliver strategic counsel and strong representation across North Texas.