Dissolving your business
Dissolving your business name is often just one of the steps to be taken when closing your business. Complete the
appropriate form for your entity type and submit it to our office with the designated fee. Financial aspects and transactions are not detailed here, so follow your accountant’s advice.
Resources
Oregon Combined Payroll Tax
If you had employees or obtained a BIN for payroll tax withholding, be sure to submit the
Business Change in Status Form. This form reports closure of the business to the Employment Department and Department of Revenue.
City or County License
If you have a license with your local municipality, report your closure to them.
Nonprofit Closing (Charity/Public Benefit)
Use the
Closing Form to report closing of an Oregon charity to the Department of Justice.
Construction Contractors Board - Close of Business
Check with them on closure and whether to
terminate your CCB license.
Unclaimed Property Reporting Requirements
Oregon’s Unclaimed Property Program has protected consumer rights in Oregon and reunited people with their forgotten assets for over 60 years. The statewide program, which is administered by the Oregon State Treasury helps safeguard individual’s unclaimed funds until they can be claimed by their rightful owner.
- Common types of unclaimed property include:
- Uncashed checks, including payroll checks
- Refunds and other deposits
- Accounts receivable – credit balances
- Stocks and securities
Property becomes unclaimed when organizations that hold funds for someone else lose contact with the owners. Every year Oregon governments, businesses, and nonprofits make attempts to connect individuals with their property. When their efforts are unsuccessful, all Oregon businesses— no matter their size — are required by law to report unclaimed funds to the state during this period. The same goes for state agencies, local governments, and nonprofits that hold unclaimed property.
Other State Licensing Boards
Determine your options for your professional or industry license.
Federal Checklist
Report close of business to the
IRS.
Going Out of Business Sales
Learn requirements for these sales.