What are the steps I need to take to dissolve my business partnership in New York?

To dissolve a business partnership in New York, there are several steps that need to be taken. The following is a basic outline of these steps:

1. Review the Partnership Agreement: First, consult your partnership agreement to see if there are any provisions regarding the dissolution of the partnership. If there are, follow those procedures as closely as possible.
2. Reach an Agreement: If both partners agree to dissolve the partnership, a written agreement should be drafted detailing the terms of the dissolution. This agreement should be signed and notarized by both partners.
3. Notify Creditors: Inform all creditors, including banks, vendors, and suppliers, of the partnership's dissolution. Settle any outstanding debts or obligations.
4. Notify Government Agencies: Notify government agencies such as the Department of Taxation and Finance, Division of Corporations, and the IRS of the dissolution. Follow the procedures specific to each agency.
5. File a Certificate of Dissolution: File a Certificate of Dissolution with the New York State Department of State. This certificate serves as official proof of the partnership's dissolution.
6. Distribute Assets: After all debts and obligations are settled, any remaining assets must be distributed according to the terms of the partnership agreement or, if none exists, in accordance with New York law.

It is important to note that the process for dissolving a partnership can be complex and involve various legal considerations. Additionally, if there is disagreement between the partners or if there are complex financial or legal issues involved, it is advisable to seek the assistance of an experienced business attorney.