New York Dissolution Package to Dissolve Limited Liability Company LLC
Overview of this form
The New York Dissolution Package to Dissolve Limited Liability Company (LLC) contains all necessary documents and instructions to voluntarily dissolve an LLC or PLLC in New York. This package does not cover judicial dissolution, focusing solely on voluntary processes. It equips you with step-by-step instructions, required forms, and essential information to properly wind down business affairs.
Key parts of this document
- Consent of Members to Dissolution form to secure agreement from LLC members.
- Articles of Dissolution form to officially file the dissolution with the Department of State.
- Instructions for completing the Articles of Dissolution effectively.
- Transmittal letter template for submitting the Articles of Dissolution.
- Guidelines for the winding up process, including distribution of assets and settling liabilities.
Common use cases
This dissolution package is necessary when the members of an LLC in New York decide to voluntarily terminate the company. This can occur for various reasons, such as a strategic business shift, retirement of members, or financial difficulties requiring closure. If your LLC no longer requires legal existence and you want to ensure a compliant dissolution process, this package is essential.
Who this form is for
- Members of a New York limited liability company wishing to dissolve their LLC voluntarily.
- Legal representatives or advisors involved in the dissolution process.
- Business owners looking to ensure compliance with New York state dissolution laws.
How to prepare this document
- Gather the consent of all members to proceed with the dissolution.
- Complete the winding up process as outlined in the introductory notes of the package.
- Fill out the Articles of Dissolution accurately with the LLC's name and registration details.
- Sign the Articles of Dissolution and include the required filing fee.
- Submit the original and one copy of the Articles of Dissolution to the New York Department of State.
Does this form need to be notarized?
In most cases, this form does not require notarization. However, some jurisdictions or signing circumstances might. US Legal Forms offers online notarization powered by Notarize, accessible 24/7 for a quick, remote process.
Mistakes to watch out for
- Failing to obtain proper consent from all LLC members before proceeding with dissolution.
- Not completing the Articles of Dissolution accurately, leading to rejection by the state.
- Missing the filing fee or forgetting to include a cover letter with the submission.
- Overlooking the winding up process, which can lead to unresolved liabilities.
Benefits of completing this form online
- Instant access to downloadable forms that can be completed at your convenience.
- Easy editability ensures your documents meet specific needs.
- Reliability of attorney-drafted documents tailored to New York law.
- Guidance throughout the process helps avoid common pitfalls.
Form popularity
FAQ
Follow the Rules of Dissolution. These should be stated in your LLC's operating agreement. Wind up your LLC. Notify concerned parties. Address any claims. File taxes. File articles of dissolution. Wrap up other tax business. Terminate out-of-state registrations.
Follow the Rules of Dissolution. These should be stated in your LLC's operating agreement. Wind up your LLC. Notify concerned parties. Address any claims. File taxes. File articles of dissolution. Wrap up other tax business. Terminate out-of-state registrations.
Written consent from the Tax Department (Form TR-960, Consent to Dissolution of a Corporation); one Certificate of Dissolution; and. a check for $60 payable to the New York Department of State.
There is no fee to file the certificate of dissolution. However, there is a non-refundable $15 special handling fee for processing documents delivered in person at the Sacramento SOS office. It can take the SOS many weeks to process a certificate. However, expedited service is available for an additional fee.
The fee for filing the Certificate of Dissolution is $60. The fee may be paid by cash, check, money order, MasterCard, Visa or American Express. Checks and money orders should be made payable to the New York Department of State. Please do not send cash through the mail.
In New York, both single-member LLCs and multi-member LLCs are typically required to pay an annual filing fee.The fee can vary from $25 to $4,500. You must pay the fee to the New York Department of Taxation and Finance by filing Form IT-204-LL within 60 days following the end of your LLC's tax year.
