The mid-table League One club had been embroiled in a lengthy battle to avoid administration but their fate was finally confirmed on Thursday.
Jim Gannon's side have been given automatic 10-point penalty, but they are still not at risk of relegation.
"I am absolutely gutted. To have been so close and to have the rug pulled from under our feet is soul-destroying," the Hatters chairman Martin Reid told the club's official website.
"After all the work and the great support from Sale Sharks, I can now only hope that Stockport County can rise from the ashes."