The Utah Certificate of Cancellation For Limited Partnership is a legal document that is used to formally dissolve a limited partnership in the state of Utah. This document is filed with the Utah Division of Corporations and Commercial Code and must be signed by all general partners of the limited partnership. There are two types of Utah Certificate of Cancellation For Limited Partnership: Type A and Type B. Type A is used when the limited partnership has no assets or liabilities, and Type B is used when the limited partnership has assets and/or liabilities. Both types must include the limited partnership’s name, the date of dissolution, the name and address of the person filing the document, and the signature of all general partners.
Utah Certificate of Cancellation For Limited Partnership
State:
Utah
Control #:
UT-SKU-0140
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PDF
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Certificate of Cancellation For Limited Partnership
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FAQ
Under the LLC Act of Utah, you will need a written agreement signed by all members to approve the dissolution. Make sure you record the resolution in the minutes of your meeting or use a written consent form. You should also file it in your LLC's record book to ensure proper documentation.
Limited Liability Partnership (LLP) A limited liability partnership is similar to a limited liability company (LLC) in that all partners are granted limited liability protection. However, in some states the partners in an LLP get less liability protection than in an LLC. LLP requirements vary from state to state.
An LLP is a kind of general partnership with limited liability protection ? in this kind of structure, there aren't any limited partners. An LLLP, on the other hand, includes limited partners and offers both types of partners limited liability protection.
LPs, formed under the Limited Partnerships Act 1907, are business associations made up of one or more general partners and one or more limited partners. These partners may be natural persons or bodies corporate.
An LLLP is a limited partnership, and it consists of one or more general partners who are liable for the obligations of the entity, as well as or more protected-liability limited partners. Typically, general partners manage the LLLP, while the limited partners' interest is purely financial.
File articles of dissolution with the Secretary of State. You can submit this document by mail to Utah Division of Corporations and Commercial Code. There is no filing fee required for filing articles of dissolution. The state agency usually takes five to seven business days to process the articles of dissolution.
An LLLP is a business entity, much like an LLC or corporation. Like those types of entities, LLLPs are formed by filing with the secretary of state and appointing a registered agent. LLLPs are considered a hybrid of other entity types, the limited partnership (LP) and the limited liability company (LLC).
For federal tax purposes, an LLP follows the same entity classification rules as the LLC. That is, it can elect to be taxed as a corporation or as a partnership. Most LLPs choose to be taxed as partnerships, however.