Oregon's CAT Short-Period Filing Rule: What Businesses Starting or Closing Mid-Year Need to Know
Oregon prorates CAT thresholds by days in a stub year — except new and closing businesses, which keep the full $1M line.
#business-closure
Business Closure
Financial procedures for business closure and winding down
Closing a Small-Business Retirement Plan: Final Contributions, Vesting, Distributions, and the Final Form 5500
Terminating a 401(k), SEP, or SIMPLE IRA requires 100% vesting, full asset distribution, and a final Form 5500 due seven months after the last payout.
The Short Tax Year: How to File a Stub Return Without Overpaying
Annualization applies only when you changed accounting periods — IRS Section 443 lets startups and shutdowns figure stub-year tax normally, no scaling up.
Shutting Down Your Business for Good: The Final-Return, Payroll, and Paperwork Checklist
A step-by-step wind-down checklist — final 1040/1065/1120 returns, final 941/940/W-2 payroll filings, state dissolution, EIN account closure, Section 1245 and 1250 recapture on asset sales, and the 3-to-7-year record retention rules.
Closing a Business in the Philippines Under RMC No. 47-2026: The 3-Day BIR Tax Clearance Guide
Under BIR Revenue Memorandum Circular No. 47-2026, issued May 19, 2026, Philippine micro taxpayers with gross sales of 3 million pesos or less can close their registration without a mandatory audit and receive a tax clearance within three working days, and non-filing penalties stop accruing once a complete BIR Form 1905 packet is submitted. This guide lists the exact documents, the manual and electronic filing channels, the five-step closure sequence, and the mistakes that still delay an exit.
Assignment for the Benefit of Creditors: The Faster, Quieter State-Law Alternative to Chapter 7
An assignment for the benefit of creditors (ABC) lets an insolvent business liquidate under state law in months rather than a year, with an assignee the owner chooses instead of a court-appointed trustee — but it carries no automatic stay and no debt discharge. Here is how the five-step process works, how it compares to Chapter 7, and the bookkeeping that keeps a wind-down orderly.
When Your Company's Tax Bill Becomes Yours: The Federal Priority Statute and Officer Personal Liability
A federal court held a non-owner corporate officer personally liable for $1,880,987.96 of a company's tax debt under 31 U.S.C. § 3713, the Federal Priority Statute, because he helped pay other creditors while the insolvent company owed the IRS. Here is how the doctrine works, who is exposed, and a practical checklist for winding down an insolvent business.
Nebraska's Mini-WARN Act: What the New 90-Day Mass Layoff Notice Law Requires
Nebraska's mini-WARN act (LB 921) takes effect July 17, 2026, requiring employers with 100+ employees to give 90 days' written notice before a mass layoff or business closing — 50% longer than federal WARN, with a flat 100-employee trigger, stricter notice content rules, and $100/day penalties. Here's who's covered and how to build a compliant RIF checklist.
The Complete Guide to Closing Your Business the Right Way
Learn the essential steps to properly close your business, ensuring you avoid legal issues, tax penalties, and financial complications. This guide covers everything from planning to recordkeeping.