Closing an LLC in Ohio can be a complicated process. However, with the right information and guidance, it can be accomplished easily. In this article, we will answer the question “how to close llc in Ohio” and discuss the necessary steps to properly dissolve an LLC in Ohio.

How to Close LLC in Ohio?

When it comes to closing an LLC in Ohio, the decision to dissolve the business must be made according to the guidelines established by Ohio law and the LLC’s governing documents. The following steps should be taken in order to dissolve an Ohio LLC:

Step 1: Consult Your Ohio LLC Operating Agreement

The first step in the dissolution process is to consult the LLC’s operating agreement. This document outlines the process for dissolution and any other requirements or procedures that must be followed.

Step 2: Notify Third Parties

Notifying third parties of the LLC’s dissolution is essential. This may include vendors, customers, creditors, and other stakeholders.

Step 3: Close LLC Tax Accounts

The LLC must close all its tax accounts, including any state and federal accounts, before dissolution. This must be done in the proper order and any taxes, fines, or penalties must be paid before the LLC can be dissolved.

Step 4: Hold a Meeting and Record Resolution

A meeting must be held with all LLC members and the resolution to dissolve the company must be recorded in the minutes. This resolution should be in accordance with the LLC’s operating agreement.

Step 5: File Certificate of Dissolution

After taking the necessary action to dissolve the LLC, a certificate of dissolution must be filed with the Ohio Secretary of State. This certificate must include the LLC’s name, the names of the members, and the date of dissolution.

Step 6: Clear All Business Debts

It is important to clear all business debts before dissolution. This includes paying all fines, taxes, and fees that the LLC owes.

Conclusion

Closing an LLC in Ohio requires following the proper procedures and filing the necessary documents. It is important to consult the LLC’s operating agreement, notify third parties, close tax accounts, hold a meeting to record the resolution to dissolve, file a certificate of dissolution, and clear all business debts. For more detailed information about closing an LLC in Ohio, as well as other helpful resources, check out Atlantabusinesses.com.

What is the fee for dissolving an LLC in Ohio?

Fill out the Form 616 Certificate of Dissolution online at Ohio Business Central and pay a fee of $50. This form replaces Form 562.

What is the process for dissolving an LLC in Ohio?

To terminate your business at the state level, you may need to submit a request for dissolution to the Secretary of State as well as terminate any accounts you have with the state. It is also possible that you may have additional obligations to fulfill at the federal and local levels.

Do I have to close my LLC in Ohio?

The Ohio Revised Code Title 17 requires LLCs in the state of Ohio to carry out the necessary dissolution procedures in order to officially close the LLC and bring an end to its corporate status as a separate legal entity.

What steps do I need to take to shut down my business in Ohio?

The Ohio Business Gateway allows a vendor’s license to be terminated by selecting “cancel my account” on the final return. Tele-File can also be used for this purpose. If the return has already been filed, the Ohio Business Account Update Form must be filled out to request a date of cancellation.