Tennessee Dissolution Package to Dissolve Limited Liability Company LLC
About this form
The Tennessee Dissolution Package to Dissolve Limited Liability Company (LLC) is a comprehensive set of legal documents designed for the voluntary dissolution of a limited liability company in Tennessee. It includes all the necessary forms, step-by-step instructions, and additional information needed to ensure a smooth dissolution process, setting it apart from standard dissolution forms that may not provide such detailed guidance.
Key components of this form
- Resolution of members consenting to dissolution
- Notice of dissolution form
- Notice to claimants for creditors
- Articles of termination to officially end the LLC
- Transmittal letters for submitting documents to the Secretary of State
When to use this document
This form package is used when members of a Tennessee LLC decide to voluntarily dissolve the company. It is necessary in situations such as the company no longer being profitable, members reaching a consensus to close the business, or the completion of the business purpose for which the LLC was formed.
Who can use this document
- Members of a Tennessee LLC looking to dissolve the company
- Organizers of an LLC that has not yet accepted any contributions
- Owners wishing to ensure compliance with legal dissolution requirements
Instructions for completing this form
- Step 1: Obtain the Resolution of Members Consenting to Dissolution and have all members sign.
- Step 2: Complete the Notice of Dissolution, indicating how the members approved this decision.
- Step 3: Notify all claimants using the Notice to Claimants form along with publication if needed.
- Step 4: After winding up business affairs, fill out and submit the Articles of Termination to the Secretary of State.
Notarization requirements for this form
Notarization is generally not required for this form. However, certain states or situations might demand it. You can complete notarization online through US Legal Forms, powered by Notarize, using a verified video call available anytime.
Mistakes to watch out for
- Failing to obtain all necessary member signatures on the Resolution of Members Consenting to Dissolution.
- Not properly notifying all claimants, resulting in potential claims being barred.
- Neglecting to file the Articles of Termination after completing the winding-up process.
Why complete this form online
- Convenience of downloading forms immediately without waiting for postal services.
- Editable forms that can be customized to fit specific requirements of the LLC.
- Access to legal support and guidance through the dissolution process.
Form popularity
FAQ
File Articles of Dissolution with the state. Visit an online legal document creation service such as Legal Docs.com or Legal Zoom.com and write the LLC's Articles of Dissolution. These documents are necessary to legally separate each LLC member from the entity.
Tennessee requires two forms be filed with the Secretary of State's Division of Business Services. The first form is a notice of dissolution form, which is available online, along with instructions. There is a fee for filing and it is usually processed within 3-5 business days.
Dissolve the Legal Entity (LLC or Corporation) with the State. An LLC or Corporation needs to be officially dissolved. Pay Any Outstanding Bills. You need to satisfy any company debts before closing the business. Cancel Any Business Licenses or Permits. File Your Final Federal and State Tax Returns.
Have a board of directors' meeting. Have a shareholders' meeting in order to approve the motion to dissolve the corporation. Submit a written Consent to Dissolution to the Tennessee Secretary of State. Submit any required annual reports to the Tennessee Secretary of State.
Just as you filed paperwork with the state to form your LLC, you must file articles of dissolution or a similar document to dissolve the LLC. These papers are filed with the same state agency that handed your original LLC formationusually the secretary 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.