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Do you have to dissolve an LLC in Georgia?

If you no longer wish to conduct business with your LLC, it is important to officially dissolve it. Failure to do so in a timely fashion can result in tax liabilities and penalties, or even legal trouble. To dissolve an LLC in Georgia, simply follow these three steps: Follow the Operating Agreement.

How much does it cost to dissolve an LLC in Georgia?

Is there a filing fee to dissolve or cancel a Georgia LLC? There is no fee to file the Certificate of Termination for a Georgia LLC. There is a $100 fee for 24 hour expedited processing. Your Georgia registered agent may be able to help you with the dissolution process.

How long does it take to dissolve a corporation in Georgia?

How long does it take the state to process the filing in Georgia? Corporate dissolutions take seven to ten business days to process. It could be up to twelve business days during December and January. If you pay for expedited processing, your dissolution can be filed in 24 hours.

How do you dissolve a business in the state of Georgia?

A corporation that has issued shares and commenced business may dissolve by filing a Notice of Intent to Dissolve pursuant to O.C.G.A. 14-2-1403 and Articles of Dissolution pursuant to O.C.G.A. 14-2-1408. Form CD 410 and CD 412 may be used for this purpose.

What does it mean to dissolve a corporation?

Dissolution of corporation refers to the closing of a corporate entity which can be a complex process. Ending a corporation becomes more complex with more owners and more assets.

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Can you use a dissolved company name in Georgia?

Corporation The name of an administratively dissolved corporation in Georgia will be safe for five years after the dissolution. If you fail to reinstate within that period, your company name will be available to other business entities, and you will have to file under a new name.

What is the first step that must be taken to terminate a corporation?

1. Call a Board Meeting. Once you have decided to close the operations of a corporation, it is recommended that you hold a Board of Directors meeting to formally move to dissolve the corporation. A vote must be taken and the minutes of the meeting must be recorded and retained in the records of the corporation.

How much does it cost to dissolve a business in Georgia?

Its free to file Articles of Dissolution or a Certificate of Termination online. But you must pay a $10 service charge if you file your documents by mail.

How to dissolve a corporation in Georgia?

A corporation that has issued shares and commenced business may dissolve by filing a Notice of Intent to Dissolve pursuant to O.C.G.A. 14-2-1403 and Articles of Dissolution pursuant to O.C.G.A. 14-2-1408. Form CD 410 and CD 412 may be used for this purpose.

What are the steps involved in dissolving a corporation?

How to dissolve a business in 7 steps Step 1: Get approval of the owners of the corporation or LLC. Step 2: File the Certificate of Dissolution with the state. Step 3: File federal, state, and local tax forms. Step 4: Wind up affairs. Step 5: Notify creditors your business is closing. Step 6: Settle creditors claims.

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Do you have to dissolve an LLC in Georgia?

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