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Closing a Business Before Year-End

Not surprisingly, it’s been a few tough years for U.S. businesses due to the pandemic, according to a recent study by the Federal Reserve. For the service sector, business closures have been exceptionally high. The study reported the “permanent exit of more than 100,000 establishments above and beyond historically normal exit levels during the 12 months of March 2020 through February 2021.”

How to Legally Close a Business Before the End of the Year

So if you’re facing the challenging task of closing a business but have not yet begun the process, it’s a good idea to legally close the business before year-end. Here’s why.

Why Closing a Business Legally Matters

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