Maryland USLegal Pamphlet on Dissolving an LLC

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Multi-State
Control #:
US-PMPH-08
Format:
Word; 
Rich Text
Instant download

Description

This pamphlet provides an overview on the dissolution of a limited liability company (LLC). Topics included cover the reasons for dissolution, different types of dissolution, and steps needed to dissolve an LLC.

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  • Preview USLegal Pamphlet on Dissolving an LLC
  • Preview USLegal Pamphlet on Dissolving an LLC

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FAQ

Below is a list of actions required when closing a business in Maryland.Step 1 End or Cancel Your Business with the Maryland Department of Assessments & Taxation.Step 2 Close Your Business with the Comptroller of Maryland.Step 3 Close Your Business with the IRS.Step 4 Close Your Business with local agencies.More items...

How to Dissolve an LLCVote to Dissolve the LLC. Members who decide to dissolve the company are taking part in something called a voluntary dissolution.File Your Final Tax Return.File an Article of Dissolution.Settle Outstanding Debts.Distribute Assets.Conduct Other Wind Down Processes.

To dissolve an LLC in Maryland, simply follow these three steps: Follow the Operating Agreement....Step 1: Follow Your Maryland LLC Operating Agreement. For most LLCs, the steps for dissolution will be outlined in the operating agreement.Step 2: Close Your Business Tax Accounts.Step 3: File Articles of Dissolution.

To dissolve an LLC in Maryland, simply follow these three steps: Follow the Operating Agreement....Step 1: Follow Your Maryland LLC Operating Agreement. For most LLCs, the steps for dissolution will be outlined in the operating agreement.Step 2: Close Your Business Tax Accounts.Step 3: File Articles of Dissolution.

In Maryland, you can dissolve a domestic LLC by filing the Articles of Cancellation with the Maryland State Department of Assessments & Taxation. If you prefer to draft your own Articles of Cancellation, rather than using the standard form provided by the state, you may do so.

There is a $100 filing fee to file the articles. It will take about 8 weeks for SDAT to process your filing. For an additional $50, you can get expedited service, which means your filing should be processed within 7 business days.

There is a $100 filing fee to cancel your Maryland LLC. Expedited processing costs an additional $50. There's also a credit card processing fee of 3% (around $5). Your registered agent service in Maryland may be able to help with the dissolution process.

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Maryland USLegal Pamphlet on Dissolving an LLC