Cancelling a company means you are going to wind up your business. In this connection, the first step is to hold a meeting of the corporation’s board of directors in which they need to propose a resolution for business closing. A vote must be taken and the minutes of the meeting must be recorded and retained in the corporate records. Then that proposed dissolution action must also be approved by majority shareholders. Secondly, the corporation needs to file Articles of Dissolution with the secretary of state. This filing of the Article of dissolution varies from state to state. In some states, this is done with a simple certificate while others require a more complex process. Once you get approval from to state to cancel your corporation or cancel an LLC, then the company’s assets will be distributed to its shareholders. For more detail feel free to contact InfotaxSquare.com. Their experts are pleased to serve you and suggest the best legal way to dissolve your corporation.