There are lots of variables to consider when deciding which method (Voluntary or Involuntary) you will follow. Here are a few:
As with many business decisions, the method for dissolution may come down to cost. With voluntary dissolution there is often the cost of filing and the cost of maintenance (i.e. taxes and other annual fees). Whereas, with an involuntary dissolution the corporation will pay the ultimate cost… death! But, it does so involuntarily and so the principals often do not have to pay additional out-of-pocket fees to achieve this ultimate goal.
If your corporation has had any operations (i.e. received income, spent money from the corporate check book, etc.), the corporation will most likely want to take the formal path so as to properly dissolve the corporation.
Often formally dissolving before year end or before a Corp’s anniversary date may prevent additional fee assessments by the state were it to still be in existence into another year. Check with your formation state to find out the deadlines for this.
Reuse the Corporate Name
If you want to re-use the exact same name in the same state for a new INC or LLC filing, you may be limited or even prohibited from using the name again. Limitations are typically from 6 months to several years after dissolution, but this depends on the formation state and the method of dissolution.
If there are any potential liabilities which may accrue to you as a director or officer, due to the corporation’s operations or your own promises, a formal dissolution might be the preferable filing.
Future Filings in that State
So far (that we know), only Arkansas actually prohibits you from forming any new INC or LLC if you were listed as an officer or director with a previous Arkansas company that was not formally dissolved. Although other states are not likely to follow suit, it is one more consideration.