A Maine Certificate of Cancellation is an official document issued by the State of Maine that cancels an existing business registration or license. This document is used to officially dissolve a business, terminate a business registration, or end the operations of a business in Maine. There are two types of Maine Certificate of Cancellation: a Certificate of Cancellation of a Business Entity and a Certificate of Cancellation of an Individual License. The Certificate of Cancellation of a Business Entity is used to dissolve a corporation, LLC, LLP, or other form of business entity registered in Maine, while the Certificate of Cancellation of an Individual License is used to cancel a license or registration issued by the State of Maine. Both types of Certificates of Cancellation must be filed with the Maine Secretary of State.
Maine Certificate of Cancellation
Description
Key Concepts & Definitions
Certificate of Cancellation refers to the document filed with a governmental entity that officially ends the legal existence of a registered business entity, such as an LLC (Limited Liability Company). This document is necessary when a business decides to cease operations and dissolve officially.
Step-by-Step Guide
- Determine the need for cancellation: Ensure that the business has fulfilled all its obligations, including debts, and that dissolving is the right step forward.
- Settle all debts and obligations: Before filing, settle all liabilities to simplify the process.
- File the Certificate of Cancellation: Submit the required form, often called 'Articles of Dissolution', to the state government where the business is registered.
- Notify affected parties: Inform all stakeholders, including creditors, employees, and customers, of the business's closure.
- Handle post-cancellation tasks: Cancel any business licenses, close business bank accounts, and file final tax returns.
Risk Analysis
- Legal Risks: Improper or incomplete filing can result in continued liability for the owners.
- Financial Risks: Inadequate settlement of debts prior to dissolution can lead to financial complications, including personal liability for business debts.
- Reputational Risks: Poor handling of the dissolution process might harm business relationships and personal reputations.
Key Takeaways
- Filing a certificate of cancellation is essential to legally dissolve a business in the United States.
- Ensure all liabilities are cleared to prevent future legal and financial issues.
- Follow state-specific guidelines carefully during the process.
Common Mistakes & How to Avoid Them
- Failing to Notify Creditors: Always inform all creditors to avoid legal repercussions.
- Ignoring Tax Obligations: Complete all tax filings up to the date of cancellation to avoid penalties and fines.
- Incomplete Paperwork: Double-check that all forms are filled out correctly and completely to ensure a smooth cancellation process.
How to fill out Maine Certificate Of Cancellation?
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FAQ
To dissolve/cancel your LLC in Maine, submit form MLLC-11C, Certificate of Cancellation, including the completed Filer Contact Cover Letter, to the Maine Secretary of State, Bureau of Corporations, Elections, and Commissions (SOS). The Certificate of Cancellation form is available on the Maine SOS website.
Yes, you can be your own registered agent in Maine. However, after considering the registered agent requirements most business owners elect to hire a registered agent service instead.
Every business entity in Maine, including corporations and LLCs, is required to appoint a Maine commercial clerk (also called a registered agent).
How to Change Your Registered Agent in Maine. To change your registered agent in Maine, you must complete and file a Statement of Change form with the Maine Secretary of State, Division of Corporations, UCC and Commissions. The Maine Statement of Change must be submitted by mail or in person and costs $35 to file.
You can get an LLC in Maine in 10-15 business days (plus mail time). If you need your Maine LLC faster, you can pay for expedited processing.
The articles of incorporation may be amended by written consent of all members entitled to vote on such amendment, as provided by section 606. If such unanimous written consent is given, no resolution of the board of directors proposing the amendment is necessary. PL 1977, c. 525, §13 (NEW).
To amend your Maine LLC's Certificate of Formation, you would file form MLLC-9, Certificate of Amendment with the Maine Secretary of State, Bureau of Corporations, Elections, and Commissions (SOS).
The Certificate of Formation is the document which, once approved by the Secretary of State's office, creates your Maine LLC. How much is an LLC in Maine explains all the fees you'll pay, including the Certificate of Formation filing fee.