Dissolving an LLC: Overview

Dissolving an LLC: Overview

At some point, you may decide to end your limited liability company. This process is called dissolving the business. Shutting your business down will be hard enough - selling off inventory, notifying your creditors, finalizes your debt and terminating any agreements - but there are legal requirements as well.

Generally, the members or managers must document the decision the LLC in writing. to dissolve You need to legally notify your business partners, creditors, and community that you are winding down your business. Any official paperwork must be completed in the state where your LLC operates. This removes the company from the state registry of businesses and you are no longer responsible for annual reports, taxes, and other fees or requirements.