The Michigan Declaration of Dissolution of Unit is a legal document that is used to formally dissolve a unit, such as a limited liability company (LLC), limited partnership (LP), or limited liability partnership (LLP) in the state of Michigan. This declaration marks the end of the unit's existence and is an important step in the winding up and termination process. When filing a Michigan Declaration of Dissolution of Unit, there are several important details that need to be included. These details may vary depending on the type of unit being dissolved, but generally, they include: 1. Unit Information: The declaration should clearly state the full legal name of the unit being dissolved, as well as its address and any other identifying information. 2. Reason for Dissolution: The declaration must specify the reason for dissolving the unit. This could be due to expiration of a specified term, achievement of a specific purpose, decision by the members or partners, or any other valid reason recognized by Michigan law. 3. Effective Date: The document should state the effective date of the dissolution. This is the date when the dissolution officially takes effect and the unit ceases to exist legally. 4. Distribution of Assets: If applicable, the declaration should outline how the unit's assets will be distributed among the members or partners. This includes specifying the amounts or percentages each individual will receive. 5. Tax Clearance: The Michigan Department of Treasury requires units that are dissolving to obtain tax clearance before the dissolution can be finalized. This means that all taxes owed by the unit must be paid or arrangements must be made to do so. It is important to note that there may be different types of declarations of dissolution, depending on the specific unit being dissolved. For example, a Michigan LLC may have a different declaration form compared to a Michigan LP or LLP. These variations cater to the specific legal requirements and regulations associated with each type of unit. In addition to the Michigan Declaration of Dissolution of Unit, there may be other related documents and steps involved in the dissolution process, such as filing a final tax return, notifying creditors, and canceling any relevant licenses or permits. It is recommended to seek legal advice or consult the Michigan Department of Licensing and Regulatory Affairs (LARA) for specific instructions and guidance relevant to the particular type of unit being dissolved.