Are you looking for an answer to the question “how to close a business in Arizona”? Don’t worry, we’ve got you covered. In this article, we’ll explain the process of closing a business in Arizona, including the steps to dissolve an LLC and finalize the business closure. Read on to get the details.

How to Close a Business in Arizona?

Closing a business in Arizona is a multi-step process. It starts with following the operating agreement of your Arizona LLC, then closing business tax accounts, and finally filing Articles of Dissolution with the Arizona Corporation Commission (ACC). Here is a step-by-step guide to closing a business in Arizona:

Step 1: Follow Your Arizona LLC Operating Agreement

The first step in closing your Arizona business is to review and follow the LLC operating agreement. This document outlines the procedures and protocols for closing the LLC. Make sure to follow the operating agreement to the letter to ensure the LLC is dissolved in a legal and proper manner.

Step 2: Close Your Business Tax Accounts

The next step is to close your business tax accounts. This may include filing a final income tax return and requesting a final tax clearance from the Arizona Department of Revenue. Additionally, you may need to inform the Internal Revenue Service (IRS) of the closure of your business. To find out what other steps you need to take, consider speaking to an accountant or tax professional.

Step 3: File Articles of Dissolution with the ACC

The last step in closing your Arizona business is to file Articles of Dissolution with the ACC. This document will terminate the business entity and should include the name of the LLC and an authorized signature. Once the ACC has accepted the Articles of Dissolution, the LLC will be officially dissolved.

Closing a business in Arizona is a complex process that requires attention to detail. For help with this process, consider seeking out the advice of a business broker or other qualified professional. Atlantabusinesses.com is a great resource for answers to all your questions about selling a business and about business brokers.

What is the procedure for terminating an entity in Arizona?

1. Filing of the Entity/Broker Status Change Form (LI-216)
2. Submission of a signed and dated letter of resignation
3. Completion of the Broker Supervision and Control Audit Declaration Form within 12 months prior to submitting for closure of the entity.

What is the process for withdrawing from an LLC in Arizona?

In order to cancel or withdraw from the Arizona Corporation Commission (ACC), you must submit your request through mail, fax, or in person.

Does an LLC cease to exist in Arizona?

A limited liability company established in Arizona will not be subject to any termination date unless specified in the Articles of Organization, and will thus last indefinitely. Furthermore, it will not be necessary to file an annual report or pay an annual fee to the Arizona Corporation Commission.

What are the rules for ending an employment contract in Arizona?

Articles of Termination should be filed when all the known possessions and assets of an Arizona LLC that is being dissolved have been used and distributed according to A.R.S. § 29-3702, thus ending the existence of the LLC.