Delaware Sample Letter for Dissolution of Corporation
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How to fill out Sample Letter For Dissolution Of Corporation?
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FAQ
Dissolution, also called winding up, is a process that members of an LLC will go through in preparation to cancel with the secretary of state and terminate the existence of the LLC. Cancellation is on the secretary of state's side, which terminates the rights, privileges, and powers of an LLC.
You'll need to complete and mail the appropriate dissolution form and a cover memo, along with the filing fee, to the Delaware DOS. You can find the dissolution forms and the cover memo on the dissolutions and cancellations section of the Division of Corporations website.
In Delaware, "dissolution" refers to the process of closing a corporation through the filing of a Certificate of Dissolution. Closing an LLC, on the other hand, requires "canceling" through a Certificate of Cancellation.
If you don't file the Certificate of Cancellation, the LLC will continue to accumulate Delaware franchise tax annually.
How long does it take the state to process the filing? Processing of a domestic dissolution will take approximately two to three weeks. Expedited service is available in one hour, two hours, same day or 24 working hours depending on the service requested.
The fee to file the Certificate is $204.00 if your document is more than 1 page, please include $9.00 for each additional page. You will receive a stamped ?Filed? copy of your submitted document. You may request a certified copy for an additional $50.
In Delaware, LLCs don't need to file a Dissolution form with the state, however, it's best to place the decision to dissolve in writing. We provide a Members' Consent to Dissolution form below that you can use. This form doesn't need to be sent to the state. You can just keep it with your business records.
§§ 18-802. Judicial dissolution. On application by or for a member or manager the Court of Chancery may decree dissolution of a limited liability company whenever it is not reasonably practicable to carry on the business in conformity with a limited liability company agreement.
