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Cancel master business license

Discussion in 'Ontario, Canada' started by ebaker, Dec 28, 2019.

  1. Dec 28, 2019 at 1:33 AM
    #1
    ebaker

    ebaker [OP] New Member

    Joined:
    Dec 28, 2019
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    Earnest
    A few years ago, I had registered sole proprietorship as a master business license in Ontario. The business was focused on health and lifestyle. The company was not producing the profit as expected. Fortunately, in November I got an offer from a leading company based in Alberta. Then, I decided to stop operating business.

    Is it important to cancel a business that no longer exists? I searched on the internet to find the procedures and found a few sites providing business cancellation details. What information is needed to cancel our current master business license? How long does it take to complete this transaction? What all documents needed for forwarding this request? Waiting for an expert advice.
     
  2. Dec 31, 2019 at 12:08 PM
    #2
    3JOH22A

    3JOH22A Large Member

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    District 6ix
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    3rd Gen TRD Off-Road
    Welcome to TW! :proposetoast: We also talk about trucks you know!

    No benefits to canceling the sole proprietorship license vs. just letting it expire 5 years after registration.
     

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