When the shareholders of a corporation, or the members of an LLC, decide that the entity will stop actively engaging in business, they have a choice to make: officially dissolve the entity in accordance with statutory requirements, or simply do nothing, and instead let the entity “die on the vine” by failing to comply with annual filing requirements and file tax returns. While letting the entity slowly wither away may have some appeal in the short term, ultimately, it’s an unwise strategy. (more…)