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Dissolving an LLC
By BookMyLLC ExpertFebruary 25, 20265 min read
How to Dissolve an LLC: Complete Guide
When it's time to close your LLC, proper dissolution is essential to avoid ongoing fees, penalties, and legal liability.
Steps to Dissolve
1. Vote to dissolve (per your Operating Agreement). 2. File Articles of Dissolution with the state. 3. Settle all debts and obligations. 4. Notify creditors. 5. Distribute remaining assets to members. 6. Cancel EIN with IRS. 7. Close business bank accounts.
Why Formal Dissolution Matters
Without formal dissolution, you may still owe annual fees and franchise taxes. The state may administratively dissolve your LLC, affecting your personal liability protection.