Changing Ownership
If you are a business owner and you want to sell your business, you must complete the following steps:
- If you are a For Profit Corporation or Not For Profit Corporation, you must submit Articles of Merger to the office of the Missouri Secretary of State
- If you are a Limited Liability Company, you must submit an Amendment of Articles of Organization to the office of the Missouri Secretary of State
- If the change in ownership will also result in a change of the business name, you must submit a Statement of Change of Registered Agent or Registered Office to the office of the Missouri Secretary of State
- If the change of ownership will result in a layoff affecting 50 or more employees, you are required to file a Worker Adjustment and Retraining Notification (WARN) with the Missouri Division of Workforce Development
- If the change of ownership will result in layoffs, you may also consider contacting the Missouri Division of Workforce Development Employee Transition Team to provide reemployment services for your affected workers
- Changes in business, including an address change, successorship, or new ownership should also be reported to the Missouri Department of Labor’s Division of Employment Security to ensure proper procedures are followed to meet unemployment insurance responsibilities. This applies only to employers liable for unemployment.
- Federal information regarding the sale of a business may also be applicable to you
Relocating a Business
If you are a business owner and you are relocating your business, the following information may be relevant to you:
- If you are relocating out of the State of Missouri, you may need to submit an Application for Certificate of Withdrawal to the office of the Missouri Secretary of State
- If you are relocating to a new location within the State of Missouri, you must submit a Statement of Change of Business Office of a Registered Agent to the office of the Missouri Secretary of State
- If your business relocation will result in a layoff affecting 50 or more employees, you are required to file a Worker Adjustment and Retraining Notification (WARN) with the Missouri Division of Workforce Development
- If your relocation results in layoffs, you may also consider contacting the Missouri Division of Workforce Development Employee Transition Team to provide reemployment services for your affected workers
- Change of address should also be reported to the Missouri Department of Labor’s Division of Employment Security to ensure proper procedures are followed to meet unemployment insurance responsibilities. This applies only to employers liable for unemployment.
Reducing Workforce
If you are a business owner and you are experiencing a reduction in available work, the following resources are available to you:
- The Shared Work Unemployment Compensation Program offered by the Missouri Department of Labor and Industrial Relations may be an alternative to layoffs. It allows an employer to divide the available work among a specified group of affected employees instead of a layoff. These employees receive a portion of their unemployment benefits while working reduced hours.
- If layoffs will affect 50 or more employees, you are required to file a Worker Adjustment and Retraining Notification (WARN) with the Missouri Division of Workforce Development.
- You may also consider contacting the Missouri Division of Workforce Development Employee Transition Team to provide reemployment services for your affected workers. By helping your workers land new jobs and avoid a gap in employment, your unemployment insurance rate is less likely to be affected.
- Refer to this Quick Guide-Laying off Employees to learn more about how layoffs may affect your unemployment rate.
Declaring Bankruptcy
If you are a business owner and you are declaring bankruptcy, the following information may be relevant to you:
- If you are filing for bankruptcy and choosing to remain in business, you must file for reorganization under Chapter 11
- If you are filing for bankruptcy and choosing to close your business, you must file liquidation under Chapter 7
- If declaring bankruptcy will result in a layoff affecting 50 or more employees, you are required to file a Worker Adjustment and Retraining Notification (WARN) with the Missouri Division of Workforce Development
- If declaring bankruptcy will result in layoffs, you may also consider contacting the Missouri Division of Workforce Development Employee Transition Team to provide reemployment services for your affected workers
Dissolving a Business
If you are a business owner and you want to dissolve your business, you must complete the following steps:
- If you are a For Profit Corporation or a Not For Profit Corporation, you must submit Articles of Dissolution by Voluntary Action to the office of the Secretary of State. Unless you are a sole-proprietor, the Secretary of State requires that you file a cancellation, withdrawal, termination or dissolution form, depending on your business type.
- If you’re a non-profit, you’ll need to file a Notice of Dissolution with the office of the Attorney General.
- If you conduct a going out of business sale, you need to register with the Attorney General’s Going Out of Business Sale Registry
- If your business will declare bankruptcy, you must file liquidation under Chapter 7
- To comply with federal business closure regulations, you must complete the IRS Closing a Business Checklist
- If your business closure will affect 50 or more employees, you are required to file a Worker Adjustment and Retraining Notification (WARN) with the Missouri Division of Workforce Development
- You may also consider contacting the Missouri Division of Workforce Development Employee Transition Team to provide reemployment services for your affected workers
An employer that ceases to have employment without a successor to its business may be exempted from filing unemployment insurance quarterly reports beginning with the first day of the calendar quarter following the last date it paid any wages, provided it files an application for such exemption.