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.
Texas USLegal Pamphlet on Dissolving an LLC
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US-PMPH-08
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How to fill out USLegal Pamphlet On Dissolving An LLC?
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To dissolve your Texas LLC, you must file a Certificate of Termination with the Secretary of State. There is a $40 filing fee. The form can be filed online. If you'd like to save yourself some time, you can hire us to dissolve your LLC for you.
How you remove an LLC member from your company will depend on the internal procedures of the company.Review the Operating Agreement. First, review the LLC operating agreement.Review Any Additional Written Agreements, Such as a Buyout Agreement.Complete the Membership Change.Inform the State of Texas.
It will take 4-6 weeks for the CPA to process your request. Once you receive your certificate of account status, you will need to attach it to your certificate of termination.
Closing an LLC is not as simple as locking the door and walking away. There are several steps you must take to protect yourself from liability and withdraw remaining assets from the company. by Brette Sember, J.D. Making the decision to close a business can be stressful.
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.
Event occurs that was specifically cited in your governing documents to require the LLC to wind up; Certificate of formation had a specific term of duration, and that end date is reached; Texas law requires winding up; and/or. Court order requires the LLC to be dissolved.
The Secretary of State charges a $40 filing fee for dissolving an LLC. If submitting via the website, you can pay online when you submit the forms. Checks should be payable to the secretary of state, and if you're paying by credit card via fax, make sure you also attach Form 807.
It will take 4-6 weeks for the CPA to process your request. Once you receive your certificate of account status, you will need to attach it to your certificate of termination.
