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Certificate Dissolution Form : Revise, Finish and download

hi everybody I'm attorney Aiden Kramer.with the law office of Aiden Kramer in.Colorado and you're watching all up in.your business in this episode of all up.in your business I'm gonna talk about.how to dissolve an LLC how to dissolve.shut down clothes and LLC whatever you.want to call it it's what I'm gonna talk.about maybe you started a business and.you realize that being a business owner.just isn't for you.or maybe you started a business with.some partners and you realize that your.partners are just a couple of turd bags.whatever the reason behind it there are.a few steps that you need to take to.dissolve an LLC first things first as.with most things having to do with your.LLC check your operating agreement your.operating agreement might describe how.when or the process by which the LLC can.be dissolved if you don't have an.operating agreement or if your operating.agreement is silent on the issue then.you want to check the statutes in your.state because every state is going to.have a statute that describes how to.dissolve an LLC or what requirements.there are for doing so Colorado for.example requires that all of the members.consent to the dissolution so in.Colorado if you have an LLC with.multiple members all of the members are.going to have to consent to it if you.all want to voluntarily dissolve the.company and then depending on the.requirements of your operating agreement.or your state's laws you're most likely.going to need to have some kind of a.vote or some kind of a written.documentation that all of the members.have consented to this even if you're.the only member you as the one member.have to consent to dissolving the.company and you want some sort of.written documentation of that so whether.it's a formal meeting with you and the.other members or just a written document.saying that you as the only member or.the group of you as all of the members.have agreed to dissolve the LLC you want.to make that documentation once.everybody is in agreement on it.then you want to start paying off any.debts of the company if there are.outstanding debts creditors that still.need to be paid off those need to be.paid before you make any final.distributions to the members you're also.going to want to check your operating.agreement and/or your state statutes.because there might be some sort of.priority of who gets paid off for.example if one of the members made a.loan to the LLC typically a member who.is a creditor is going to be paid off.after other creditors that priority to.pay off a member who made a loan to the.LLC is going to be lower than the.priority of paying off a bank if your.company doesn't have any debts there are.no creditors then at that point what's.that's all taken care of you can make.the final distribution so for.simplicity's sake let's say there are.two members and there's $1,000 left in.the company all of the company's assets.are $1,000 in the bank and you each own.50-50 of the company then that final.distribution is going to be five hundred.to one five hundred to the other then.you're gonna want to file the.dissolution paperwork with your state in.Colorado this is called a statement of.dissolution other states might call it.something else but every state is going.to have some paper that you need to file.to dissolve the LLC officially with the.state and then lastly you're gonna need.to wrap up the LLC's taxes just because.the LLC is dissolved doesn't mean you.get out of paying taxes for that last.year so you need to whenever your tax.time comes up whether it's in April or.you have a different tax year you file.that final tax return pay whatever taxes.you owe to the IRS and whomever else and.then on that tax return you can indicate.that this is going to be the final tax.return of the company so for most.companies that's going to be basically.the process of dissolving the LLC for.some situations that might be more.complex so because of that it's always.good to work with an attorney when.you're trying to dissolve an LLC a.special.if there are multiple partners if you're.a single member LLC you're the only.owner the process is a bit easier and.it's really easy if you don't have any.debt then there's really nothing to.worry about.but either way at least checking with an.attorney who's licensed in your state to.assist with the dissolution is going to.be a good idea if you're in Colorado and.want some assistance dissolving your LLC.or anything else having to do with your.LLC please feel free to contact me my.phone number and email are right here.please be sure to give a thumbs up and.subscribe to my channel if you want more.all up in your business I put out new.videos on Wednesdays usually sometimes.it's not on Wednesdays but usually it's.on Wednesdays but if you subscribe you.won't miss a video regardless and when I.put it out thank you all so much for.watching I'm Aiden Kramer and I'll see.you next time.

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Certificate Dissolution Form FAQs

Here are some questions along with their answers to clear up the doubts that you might have.

Need help? Contact support

Where can I get the form for migration certificate?

If you are under CBSE board then go to CBSE regional office near you and ask for migration form and fill it then submit to cash counter (Less then 500rs). Same thing with Others

How long does it take to dissolve a corporation in New York?

Corporations are state entities, so you would be creating one in New York State (of course you can list NYC as your address). The barebones cost is about $200 that varies based on how many shares of stock you issue. The website you'll need is here: http://www.dos.ny.gov/corps/busguide.html. Of course you should Yelp a small business lawyer and have them draft up the paperwork, which cost anywhere from (free or equity) to $2K.

Can a dissolved corporation sue in New York?

No. Once it has been dissolved, it is no longer a legal entity Under certain circumstances members of the board of the Corporation might be able to sue or even s stock holder, if someone else’s actions is what caused the corporation to fail.

How do I dissolve a corporation in NY?

a2a: You can register your existing Delaware entity as a foreign (out of state) entity doing business in NY. Dare say at this point there are many, many (and many) of Delaware entitles registered to do business on other states.

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