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Commonly Asked Questions about LLC Termination

Although some people confuse dissolution and termination, dissolution does not terminate an LLCs existence. What it does is change the purpose of its existence. Instead of conducting whatever business it conducted before, a dissolved LLC exists solely for the purpose of winding up and liquidating.
An LLC terminates for tax purposes when either: no part of any business, financial operation, or venture continues to be conducted by any of its partners in an LLC; or. Termination of LLCs - CCH AnswerConnect cch.com topic termination-of-llcs cch.com topic termination-of-llcs
How Long Does It Take to Dissolve an LLC? It can take more than eight weeks for the Secretary of State to process a filing to dissolve your LLC. There is an option to have expedited processing in California. It can be completed within 24 hours or the same day with additional fees.
If you cancel your LLC within one year of organizing, you can file Short form cancellation (SOS Form LLC-4/8) with the SOS. Your LLC will not be subject to the annual $800 tax for its first tax year.
There is no fee to file the California dissolution forms. To speed up the process, you can pay for expedited service and preclearance. Preclearance means that you can drop your document off in person for a review prior to filing to ensure you havent made any mistakes that will get your filing rejected.
The cost to file either one of those notices is $25. Upon completing the merger or winding up of your LLC, you must provide the completed Articles of Termination for Limited Liability Company (LLC-5) form to the Missouri Secretary of State by mail, fax or in person.
In general, an LLC is required to pay the $800 annual tax and file a California tax return until the appropriate paperwork is filed with the SOS to cancel the LLC. In order to cancel an LLC, the LLC must file Form LLC-4/7, Limited Liability Company Certificate of Cancellation, with SOS.
For an uncontested California LLC dissolution of a domestic LLC, where all LLC members agree to the LLC dissolution, the LLC is in good standing with the California Secretary of State, and all creditors have been or will be paid, the legal fee is generally $495 to dissolve and cancel a California limited liability
Complete and file the Articles of Dissolution with the Department of State. The completed Articles of Dissolution, together with the statutory fee of $60, should be forwarded to: New York Department of State, Division of Corporations, One Commerce Plaza, 99 Washington Avenue, Albany, NY 12231.