Are you trying to close an LLC in New York? This article will provide all the information you need to know on how to do so. You’ll learn the steps to take and what documents you need to file with the New York Department of State.

How to Close an LLC in NY?

Closing an LLC in New York requires filing several documents with the New York Department of State, as well as other tax-related steps. Here is a step-by-step guide on how to close an LLC in New York:

  • File a Final Form NYS-45: If you had employees and have ceased operations, you must file a final Form NYS-45, Quarterly Combined Withholding, Wage Reporting, and Unemployment Insurance Return.
  • Submit Articles of Dissolution: Within 90 days of taking the necessary action to dissolve your LLC, you must file Articles of Dissolution with the New York Department of State. The filing fee is $60 with an additional $25 fee for expedited processing.
  • Wrap Up Other Tax Business: Obtaining tax clearance from the Department of Taxation and Finance and filing final returns with the IRS are other tax-related steps to take when dissolving a New York LLC. Check the LLC’s operating agreement for guidance on this.
  • Your Business Name Is Open for Use:After processing, your business name is open for use the date after processing.

There are three ways to dissolve a New York LLC: voluntarily, judicially, and by proclamation. Voluntary dissolution is when the New York LLC agrees to dissolve and follows all the necessary steps to do so. Judicial dissolution is when a court orders the dissolution of the LLC. Proclamation dissolution is when the LLC fails to file its annual report or pay its franchise taxes.

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What is the procedure for shutting down a single member limited liability company in New York State?

You must submit the completed Articles of Dissolution form to the New York Department of State, either by mail, fax, or in person, along with the fee for filing. It is not necessary for original signatures to be included on the filed documents.

What is the process for dissolving an LLC?

To officially close an LLC, you must submit a final tax return to both the state and the IRS. Be sure to check the box indicating that this is the last tax return for the LLC. You should also fill out Schedule K-1 and provide a copy to each member of the LLC so they can report their losses and gains on their personal taxes.

What is the process for shutting down a business in New York?

Send in all obligatory tax returns to the New York State Taxation and Finance Department. Pay the taxes and costs that must be paid. Settle all outstanding business debts. Organize a board conference and record a resolution to end the company.

What are the steps for terminating my membership in a New York limited liability company?

A domestic limited liability partnership can end its official status as a New York registered limited liability partnership by filing a Certificate of Withdrawal as outlined in Section 121-1500(f) of the New York State Partnership Law.