Every business is unique and different, but here is a general overview of the types of financial obligations that may need to be resolved before the business dissolution is complete. The first step is to file the appropriate tax forms, settling the company's federal, state, and local tax obligations. After paying any taxes that are owed, it will be necessary to satisfy the claims of creditors. This is usually done by notifying creditors of the (intended) termination of the LLC or Corporation, and outlining a deadline for submitting claims. Once the claims of creditors are resolved, you can proceed to liquidate the remaining assets of the business, distributing the proceeds according to the percentage of the dissolving corporation or company owned by each owner. This step completes the dissolution process.