---
title: What steps should I take to dissolve my business in Illinois?
description: Looking to dissolve your business in Illinois? Legal Faqs has got you covered. Follow these simple steps to properly dissolve your company and avoid any legal issues. Get more expert advice on business dissolution at Legal Faqs.
image: https://www.legalfaq.ai/hubfs/LegalFAQ/illinois-legal-faqs.jpg
---

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 March 18, 2023

# What steps should I take to dissolve my business in Illinois?

![Picture of Chris Battis](https://www.legalfaq.ai/hs-fs/hubfs/battis-mug.jpg?width=50&name=battis-mug.jpg) By  [Chris Battis](https://www.legalfaq.ai/faqs/author/chris-battis)  ·   1 minute read

To dissolve a business in Illinois, the following steps should be taken:

1. **File Articles of Dissolution with the Illinois Secretary of State:** The Articles of Dissolution must include the name of the business, the reason for dissolution, and the effective date of dissolution. The filing fee for this document is $5.
2. **Notify the Illinois Department of Revenue:** Submit a final tax return and pay any outstanding taxes owed. If applicable, cancel any permits, licenses, or registrations with state agencies.
3. **Notify creditors:** Send written notice to all known creditors of the business informing them of the dissolution. This will give them an opportunity to file a claim against the business.
4. **Cancel any contracts or leases:** Cancel any outstanding contracts or leases that the business has with third parties.
5. **Liquidate assets and pay debts:** Liquidate any remaining assets of the business and pay any outstanding debts before distributing remaining funds to shareholders.

It is important to note that while these steps will properly dissolve a business in Illinois, they may not apply to all types of businesses. It is recommended that a licensed attorney be consulted to ensure that all legal requirements are met and to address any potential issues that may arise during the dissolution process.

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