New York USLegal Pamphlet on Dissolving an LLC

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US-PMPH-08
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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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FAQ

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 New York LLC, you must submit the completed Articles of Dissolution form to the New York Department of State by mail, fax or in person, along with the filing fee. The New York Department of State does not require original signatures on filed documents.

There is a $60 fee to file the articles. Your filing to be processed within seven business days. You may pay additional fees for expedited processing. The DOS has an articles of dissolution form available for download.

Voluntary dissolution is generally a two-step process:Obtaining written consent from the Tax Department1 (which will check to see if the corporation owes back taxes and if it has filed all its returns)2; and.Filing paperwork with the New York Department of State, including a Certificate of Dissolution.

To close an LLC, the members need to surrender the authority of the company to do business. They can do this by sending a complete Articles of Dissolution to the secretary of state. However, filing these dissolution papers is one part of closing a limited liability company.

Within 90 days following the dissolution and the commencement of winding up the limited liability company, or at any other time that there are no members, a domestic limited liability company shall file articles of dissolution pursuant to Section 705 of the New York State Limited Liability Company Law.

Voluntary dissolution is generally a two-step process:Obtaining written consent from the Tax Department1 (which will check to see if the corporation owes back taxes and if it has filed all its returns)2; and.Filing paperwork with the New York Department of State, including a Certificate of Dissolution.

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New York USLegal Pamphlet on Dissolving an LLC