When dissolving a business partnership it is important to review the operating agreement, bylaws, and other documents of control to determine procedures and requirements for departure. 

A review of the formative agreement is necessary to ascertain the presence of notice requirements, buyout provisions, and other clauses and procedures for dispute resolution, so that nothing is left unaccounted for in the dissolution agreement. 

Partners must agree to dissolve the partnership and document the decision in writing. All relevant parties should be notified through written notice. All outstanding debts must be paid before shareholder asset distribution. 

Dissolution forms need to be filed with the state along with the cancellation of permits, bank accounts, and business licenses. 

All tax obligations must be handled when you notify the IRS. 

Lastly, retain records of dissolution in the event of future inquiries. 

These are just some of the considerations when completing a dissolution process for a business.