- Vote to Dissolve: Similar to Wyoming, the members should vote and agree to dissolve the LLC. Document this decision in the company’s records.
- Settle Debts and Obligations: Address any outstanding debts, obligations, or liabilities of the company.
- Distribute Remaining Assets: Distribute any remaining assets among the members based on the operating agreement or members’ shares.
- File Certificate of Cancellation: Submit the Certificate of Cancellation to the Delaware Division of Corporations. There’s a filing fee associated with this.
- Cancel Business Licenses and Permits: Cancel any business licenses or permits that were issued in Delaware.
- Notify the IRS: Inform the IRS that you are closing your EIN account by sending them a letter with the reason for the account closure.
- File Final Tax Returns: File all necessary state tax returns for Delaware and indicate that these are the final returns.
- Pay the Annual Franchise Tax: Ensure that the final franchise tax is paid if it’s due before the dissolution.
Disclaimer
It’s crucial to ensure that all steps are followed meticulously to avoid any legal complications or unexpected liabilities in the future. It’s also advisable to consult with a legal or business professional during the dissolution process to ensure all requirements are met.