Tennessee Articles of Termination are a type of legal document that is used to dissolve a business or other organization. The document is filed with the Tennessee Secretary of State and provides evidence that the business or organization is no longer active. There are three types of Tennessee Articles of Termination: dissolution, withdrawal, and cancellation. Dissolution Termination is used when a corporation or LLC is voluntarily dissolving, while Withdrawal Termination is used when a foreign company is withdrawing from the state. Cancellation Termination is used when a business or organization has not been in compliance with Tennessee law and has been administratively dissolved by the Secretary of State. All Tennessee Articles of Termination must include the name of the business or organization, its address, the date of the filing, and the signature of an officer of the company.
Tennessee Articles of Termination
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How to fill out Tennessee Articles Of Termination?
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The first step in terminating a Tennessee LLC is to file Form SS-4246, Notice of Dissolution (Limited Liability Company) with the Department of State, Division of Business Services (DBS). After you file notice of dissolution and wind up your business, you will have to file the appropriate Articles of Termination.
LLC Dissolution is known by a few different names ? usually either Articles of Dissolution or a Petition for Dissolution.
Submit a written Consent to Dissolution to the Tennessee Secretary of State. Submit any required annual reports to the Tennessee Secretary of State. Pay off any outstanding business debts. Pay any outstanding taxes and administrative fees.
Filing dissolution documents is the first step and requires the business to wind-up its business and affairs. Once that is complete and the entity has obtained a Certificate of Tax Clearance for Termination/Withdrawal from the Tennessee Department of Revenue, the business entity may file termination documents.
To close an LLC completely, you need to file a final tax return with the state and the IRS. Make sure you check the box to show this is the final return for the LLC. Fill out Schedule K-1 and give a copy to each member so that they know what to report on their own personal taxes in terms of losses and gains.
Tennessee requires the following: County filing. If the LLC's principal office is in Tennessee, a copy of the Articles of Organization must be filed with that county's government. If the principal office is not in Tennessee, no county filing is required.