Closing an LLC in South Carolina is a straightforward process, but it is important to follow the correct steps in order to ensure that the dissolution of the company is legally valid. In this article, we will cover the main steps, including what forms you need to file, what taxes you need to settle, and how to terminate your South Carolina LLC.

How to Close an LLC in South Carolina?

If you have an LLC in South Carolina and want to close it, you need to take the following steps:

  • Follow Your South Carolina LLC Operating Agreement – Your LLC’s operating agreement outlines the steps you must take to dissolve the business. This includes providing notice to members, settling outstanding debts, and filing the necessary paperwork.
  • Close Your Business Tax Accounts – You must close your business tax accounts with the SC Department of Revenue. This includes filing a final return, paying any taxes due, and submitting a final report.
  • File Articles of Termination – The final step in your dissolution process is to file Articles of Termination with the South Carolina Secretary of State. This document formally dissolves the LLC.

Required Forms

The forms you need to submit to close your South Carolina LLC will depend on the type of business you have. These forms include:

  • Employers Report of Change (UCE-101-s) – This form is used to cancel the Certificate of Authority when the LLC no longer wishes to conduct business in the state of South Carolina. To close your account online go to dew.sc.gov/suits.
  • Articles of Termination – After dissolving and winding up your LLC, you have the option to files articles of termination with the Secretary of State (“SOS”).

Once you have completed the steps above, your LLC will be officially closed in South Carolina.

Conclusion

Closing an LLC in South Carolina is a straightforward process, but it is important to follow the correct steps to ensure that the dissolution of the company is legally valid. If you have any questions about closing your LLC in South Carolina, atlantabusinesses.com is a great resource for answers to all your questions about selling a business and about business brokers.

What is the process for closing my business with the Secretary of State of South Carolina?

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For assistance with Internal Revenue Service (IRS) inquiries, call the IRS business line at 1-800-829-4933.

What is the price of forming an LLC in South Carolina?

In order to form an LLC in South Carolina, the Secretary of State requires a $110 fee to file the Articles of Organization. Additionally, you can reserve the LLC name with the same office for a $25 charge.

What is the phrase used to describe the process of shuttering an LLC?

LLC Dissolution can be referred to by different names, including Articles of Dissolution and Petition for Dissolution.

Is it necessary to renew an LLC in South Carolina annually?

In South Carolina, there is no need to file an annual report for LLCs. To find out more about taxes for LLCs in the state, you can look up information on Business Owner’s Toolkit or the State of South Carolina.