Dissolve LLC

If you own an LLC, just walking away and not doing anything won't magically remove it from state records.

You have to dissolve the LLC to formally close it. An LLC is a legal entity that has a life of its own.

LLC dissolution isn't as simple as filing a formation document.

Depending on how much business you've done and in which states you've operated, its complexity will vary.

The general steps to shut down an LLC include the following, though these may vary by state:

• Vote among members to agree to the dissolution or fulfill any criteria set forth in the operating agreement; if you're a single-member LLC, no vote is needed, but you still need to document the decision in writing.
• Liquidate assets.
• File articles of dissolution or a similar document, depending on the state, with the secretary of state.
• Close out out-of-state registrations, sales tax registrations, DBA registrations, etc.
• Settle business affairs with vendors, banks, and creditors.
• File final federal and state tax returns.
• Cancel the EIN.

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Disclaimer: All content here is for general informational purposes only and not intended as legal, tax, or financial advice. Always consult a qualified professional before taking any action. Use at your own risk; the author assumes no liability.