I realize there’s a sticky thread about legal resources. But I’m looking for whether ppl have had experience w/ any of the mentioned ones. I’m looking for an easy way of setting up and dissolving an LLC. So far, mycorporation.com looks easy but it looks to be selling a lot of worthless extras.
I understand how to set an LLC up (in Philadelphia at least) but remember how worry I was that I was missing things. Had to seek legal advice to sleep a night. Now I’m in the process of dissolving it and probably need to do the same. Wish there was a site I can go to and just click “Dissolve” and it’ll take care of stuff for me. Tell me where to sign, etc.
I’m asking b/c I’m wondering if there’s an opportunity to build some type of web 2.0 site around this.
Dissolving an LLC is just about as easy as setting one up when it comes to paperwork/legal so it’s not unreasonable for you to do to it yourself if you are comfortable with that.
Each state is different but generally it goes like this:
first you pick your dissolution date
then you file tax returns through that date. there is almost always a way to mark a return as ‘final’ but again it depends on how you file/which state
then submit the form to the secretary of state to actually dissolve the corp on that date
The secretary of state will usually receive the form and seek ‘clearance’ from any related agencies. This usually means that they confirm with the tax/revenue office in your state that you have filed your final/closing return and have no outstanding liability. They usually seek clearance from the employment/payroll tax collection agency so be sure you are all paid up with them. If your state has things like modified business tax (i.e. Nevada) then you’ll need to be sure you are paid with them, too.
If the SOS gets word that an agency is blocking you, it’s not that big a deal because your corp will still be wound down and dissolved on the date you intended IF you take care of any outstanding requirements quickly.
Eventually you want to get an official letter from the SOS in your state which says that the corp was dissolved.
You also need to withdraw from any other states in which you are registered as a foreign corp, notify the IRS that you are wound down and ‘surrendering’ your EIN, and tie up any other loose ends.
It’s pretty easy, though. I wouldn’t expect to see a ‘dissolve’ button any time soon. A company can sell you the prefilled forms, but that isn’t worth much - you can easily obtain and complete them yourself and that’s not really the hard part of dissolving a corp. The bulk of your effort should go into tax preparation - make sure your accountant submits nice, clean, FINAL returns for the state, the fed, payroll, everything.
Thanks for all that info. You’re right - the paperwork seems to be no problem at all. It’s definitely this tax stuff that has me all hesitant. It was a short lived LLC w/ no revenues anyways - so hoping it’ll be easy.
If the LLC has had NO revenue whatsoever, there is usually an expedited dissolution that makes it incredibly easy. This varies by state, but I would call the SOS in your state and check.