If you’re thinking about closing your business because of financial issues or other difficulties, check out our Getting Business Advice section to get in touch with business experts who can provide one-on-one counseling to address your situation and offer potential solutions.
Layoffs, Closures, & Natural Disasters
Rapid Response is an early intervention service that assists employers (and workers) affected by layoffs, plant closures, or natural disasters. It provides access to the Commonwealth’s PA CareerLink system of user-friendly resources and information to help transition workers into reemployment. Download the Rapid Response guide to learn more.
Discontinuing Your Business in Pennsylvania
When a business is ceasing operations in Pennsylvania, steps must be taken to remove the business from tax and public records. To close your business, it must be in good standing. If you fail to properly notify the appropriate state government agencies about the closure of your business, you risk being liable for taxes and the business will continue to face civil liability. Additionally, please contact any special registration agency, professional licensing board, and local and federal government agencies that were involved with registering your business.
The basic steps involved include:
- Make sure all liabilities and filing requirements are satisfied with the Pennsylvania Department of Revenue and, if your business had employees, the Pennsylvania Department of Labor and Industry.
- Close all business accounts with the Pennsylvania Department of Revenue and the Pennsylvania Department of Labor and Industry. If your business is operating with employees, you may also want to reach out to your workers’ compensation insurance carrier to discuss your workers’ compensation policy.
- Obtain the Tax Clearance Certificates from the Pennsylvania Department of Revenue and the Pennsylvania Department of Labor and Industry (if applicable).
- Complete proper paperwork with the Pennsylvania Department of State to dissolve or terminate your entity.