How do I dissolve a Delaware limited liability company?
Steps to Cancel a Delaware LLC
- Consult the LLC Operating Agreement.
- Take a Member Vote.
- Appoint a Manager to Wind up the LLC’s Affairs.
- Payoff Creditors, Current and Forseeable, before paying Members.
- Pay The Delaware Franchise Tax.
- Pay the LLC’s members.
- File a Certificate of Cancellation.
How much does it cost to dissolve a Delaware LLC?
The filing fee for the Delaware LLC Certificate of Cancellation is $200 (this is a one-time fee). There is no cost associated with the Cover Letter. You need to send the state a Certificate of Cancellation and Cover Letter and pay the $200 filing fee. You can file the Certificate of Cancellation and Cover Letter by mail or online.
What’s the difference between a LLC and a dissolution?
While the official term for shutting a corporation is “dissolution,” the two terms are often used interchangeably by business owners. Most new business owners want to know how to form a Delaware LLC, but a few also ask how to cancel a Delaware LLC in case the LLC goes out of business.
How to check your Delaware LLC tax record?
The state will check your LLC’s franchise tax records when they receive your Certificate of Cancellation. Questions: If you have any questions about your LLC’s franchise tax, you can contact Delaware Franchise Tax Section at 302-739-3073, Option 3 (8am to 4:30pm, Monday – Friday) or by email at [email protected]
Do you have to pay franchise tax when you cancel a Delaware LLC?
Pay The Delaware Franchise Tax. Prior to filing the Certificate of Cancellation, the Delaware franchise tax open balance must be paid plus the current calendar year franchise tax, even if the cancellation is filed on January 1, or the Delaware Division of Corporations will not accept the cancellation filing.
