Nothing can sap your energy, finances, and relationships more than stubbornly sticking with a dead end project. Successful entrepreneurs know that one failed business hardly defines them. After all, the end of one venture often means the start of something new.
However, closing your business doesn’t just mean shutting down your website or storefront and calling it a day. You’ll need to formally close your LLC or Corporation. Otherwise, you can still be on the hook for filing your dead business’ annual reports, filing state/federal tax returns, and keeping up any business licenses.
To read the original article: Close An Inactive Business Before the End of the Year
