How to Dissolve an LLC in Illinois

For most118bet金博宝 , the steps for dissolution will be outlined in the188金宝搏官方网站. Some common dissolution steps include:

• Holding a vote with LLC members to dissolve the LLC
• Recording the dissolution vote in the LLC’s meeting minutes
• Determining the formal date of dissolution
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• Notifying creditors and settling any business debts

If your LLC does not have any set dissolution procedures in its operating agreement, you should consult the state for further instruction.

Every activeIllinois LLChas various tax accounts that are maintained by different departments within the Illinois State government. Before you can dissolve your LLC, you must first pay off all taxes and/or fines owed to these accounts.

Here are some of the common taxes your LLC may owe:

• If you have or have had employees in Illinois:
  • Unemployment Insurance Tax
  • Employee Withholding Tax
• If your LLC sells or has sold taxable goods or services in Illinois:
  • Sales & Use Tax

Closing your tax accounts usually involves simply filing a final return to the appropriate agency. However, some accounts require submitting other official paperwork. If you need assistance in closing your tax accounts, it may be helpful to hire aCertified Public Accountant.

Articles of Dissolution, known in Illinois as Statement of Termination, are the forms that you file to voluntarily dissolve your LLC. Once this document has been filed and processed, your LLC will no longer legally exist.

Illinois requires business owners to submit their Statement of Termination by mail or in person.

You can also have a professional service provider file your Articles of Dissolution for you.Incfileprepares the Articles of Dissolution for you, and files them to the state for $149 + State Fees.