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Dissolution is the first step in the termination process is to dissolve the LLC. Although some people confuse dissolution and termination, dissolution does not terminate an LLC's existence. What it does is change the purpose of its existence.
How to Dissolve a Washington Corporation or LLCSubmit a Revenue Clearance Certificate Application.Wait for processing.Fill out Articles of Dissolution.Attach the certificate.Submit Articles of Dissolution.Wait for processing.Inform your registered agent.
Reasons for Dissolution of partnershipAdmission of a new partner. Insolvency of an existing partner. Early retirement of a partner. Due to expiry of a partnership period after a certain time as mutually agreed upon by all partners.
A corporation shall be administratively dissolved by the secretary of state upon the conditions prescribed in this section when the corporation: (1) Has failed to file or complete its annual report within the time required by law; or.
The company is struck off the Register of Companies and ceases to exist as a legal entity. It's not possible to take legal action against a company that doesn't exist, so in order to make a claim against such a company, it's first necessary to get it reregistered. To do this you'll need to get a court order.
Dissolution generally occurs when the business purpose of the LLC is completed or ceases to be economically viable. The members may also agree to dissolve the LLC if they are at an impasse regarding fundamental decisions concerning the LLC's business operations.
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.
Washington law puts a three-year time limit on claims against a dissolved LLC, its managers, and its members, but per a 2010 amendment to the law, the clock only begins to run when a Certificate of Dissolution is filed.
14.050, which states that a dis- solved corporation continues its exist- ence but may not carry on any business except that appropriate to wind up and liquidate its business and affairs. This statute allows a Washington corpora- tion to be sued while it is winding up. The Legislature also enacted RCW 23B.