If you are looking for information about how to close your LLC in New York, you’ve come to the right place. In this article, we will provide the steps and information necessary to dissolve your LLC in the state of New York.

How to Close My LLC in New York?

In order to close your LLC in New York, you must take the necessary action to dissolve your LLC and then file Articles of Dissolution with the New York Department of State. There are three ways to dissolve a New York LLC: voluntarily, judicially, and by proclamation. Voluntary dissolution is when the New York LLC members agree to dissolve the LLC.

Steps for Closing an LLC in New York

The following steps should be taken when closing an LLC in New York:

  • See their Request for Dissolution form. You must file your return on the proper year’s form. The TSB-M explains what to do if the form is not available.
  • File 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 (“DOS”).
  • Follow the Rules of Dissolution. These should be stated in your LLC’s operating agreement.
  • Wind up your LLC. This includes collecting assets, paying claims, and distributing assets to members.
  • Notify concerned parties. You should notify creditors and any other interested parties of the dissolution.
  • Address any claims. If there are any unresolved claims, you should address them before the LLC is dissolved.

Once you have taken the necessary steps to dissolve your LLC, you must file Articles of Dissolution with the New York Department of State. The Articles of Dissolution must be filed within 90 days of the decision to dissolve the LLC.

Conclusion

Closing an LLC in New York is a straightforward process that involves taking the necessary action to dissolve your LLC and then filing Articles of Dissolution with the New York Department of State. If you need help or have questions, the professionals at Atlantabusinesses.com are here to help. They are experts in business brokers and can answer all your questions about selling a business and about business brokers.

What is the process for shutting down a one-person limited liability company in New York State?

You need to submit the Articles of Dissolution form to the New York Department of State, either by mail, fax, or in person, along with the applicable filing fee. Original signatures are not necessary.

What is the process for shutting down an LLC?

In order to shut down an LLC, you must submit a final tax return to the state and Internal Revenue Service. Make sure the box is checked to indicate this is the final return for the LLC. Additionally, you must fill out Schedule K-1 and provide a copy to each member so they can accurately reflect losses and gains on their individual taxes.

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

Send in all the mandatory tax forms to New York’s Department of Taxation and Finance. Make sure to pay all taxes and fees due. Clear any outstanding debts that the business has. Have a meeting with the board and create a record of the decision to dissolve the company.

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

The act of dissolving an LLC can be referred to by various names, including Articles of Dissolution or a Petition for Dissolution.