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.
Montana USLegal Pamphlet on Dissolving an LLC
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US-PMPH-08
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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 your Montana Corporation, you submit the completed Articles of Dissolution for Profit Corporation form as well as a Tax Certificate from the Department of Revenue, to the Secretary of State by mail, fax or in person. Submit your dissolution along with the filing fee.
A dissolved corporation may sue or be sued in all courts and may participate in actions and proceedings, whether judicial, administrative, arbitrative or otherwise, in its corporate name, and process may be served by or upon it.
Closing Correctly Is ImportantOfficially dissolving an LLC is important. If you don't, you can be held personally liable for the unpaid debts and taxes of the LLC. A few additional fees you should look for; Many states also levy a fee against LLCs each year.
Failing to dissolve the corporation allows third parties to continue to sue the corporation as if it is still in operation. A judgment might mean that shareholders use the money received from distributed assets when the corporation closed down to satisfy judgments against the corporation.
To dissolve your Montana Corporation, you submit the completed Articles of Dissolution for Profit Corporation form as well as a Tax Certificate from the Department of Revenue, to the Secretary of State by mail, fax or in person. Submit your dissolution along with the filing fee.
To dissolve an LLC in Montana, simply follow these three steps: Follow the Operating Agreement. Close Your Business Tax Accounts....Step 1: Follow Your Montana LLC Operating Agreement.Step 2: Close Your Business Tax Accounts.Step 3: File Articles of Dissolution.
By dissolving an LLC properly, it means that the LLC is no longer a legal business entity so you won't be expected to pay any fees or taxes, or file any more documents. Despite no longer operating, it is possible for members to create a new LLC and run it in the same way as the dissolved company.
To dissolve an LLC in Montana, simply follow these three steps: Follow the Operating Agreement....Step 1: Follow Your Montana 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.
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