Delaware Termination Agreement
Description
How to fill out Termination Agreement?
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FAQ
Business entities doing or transacting business in California or registered with the California Secretary of State (SOS ) can dissolve, surrender, or cancel when they cease operations in California and need to terminate their legal existence here.
It is advisable to formally cancel a Delaware LLC if the company has ever been used in any capacity. The LLC will continue to accrue Delaware franchise tax year after year if the company is not properly canceled. The public cancellation filing stops the LLC from accruing future franchise tax, penalties, and interest.
If you're shutting your business down completely, you must file Articles of Dissolution to terminate your company's existence. If you discontinue business in a state where you had foreign qualified, you must file Articles of Withdrawal to avoid fines, penalties, and a potential loss of liability protection.
A limited partnership can file a statement of cancellation with the Delaware Department of State, Division of Corporations. The filing will include a fee of $200. The dissolution of a limited partnership occurs when: The winding up process has been completed.
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.
Attached please find a form for a Certificate of Cancellation of a Limited Liability Company to be filed in ance with Section 18-203 of the Limited Liability Company Act of the State of Delaware. The fee to file the Certificate is $220.00.
Is there a filing fee to dissolve or cancel a Delaware Corporation? The ?short? form cost $10. The Certificate of Dissolution carries a $204 filing fee. Contact the Department of State, Franchise Tax Section to find the exact amount of tax owed also at the time of dissolution.
