Closing an LLC in Michigan is a relatively simple process. In this article, we will provide you with a step-by-step guide on how to close a LLC in Michigan. In order to dissolve your LLC in Michigan, you must first vote to dissolve the LLC. After you have voted to dissolve your LLC, you must file a certificate of dissolution with the Michigan Department of Licensing and Regulatory Affairs (“LARA”). Additionally, you must request a tax clearance from the Michigan Department of Treasury within 60 days of filing the dissolution.

How to Close a LLC in Michigan?

To close a LLC in Michigan, you should follow the steps below:

  • Vote to dissolve the LLC: You must first vote to dissolve the LLC.
  • File a certificate of dissolution: After you have voted to dissolve your LLC, you must file a certificate of dissolution with the Michigan Department of Licensing and Regulatory Affairs (“LARA”).
  • Request a tax clearance: You must request a tax clearance from the Michigan Department of Treasury within 60 days of filing the dissolution.
  • Notify creditors: You must notify all creditors of the LLC’s pending dissolution.

It is important to note that if an LLC is currently not in good standing with the State of Michigan, it must first be brought up to good standing before the dissolution process can begin.

Conclusion

Closing a LLC in Michigan is relatively straightforward. Following the steps above should help you successfully dissolve your LLC in the State of Michigan. For more information regarding selling a business or business brokers, please visit atlantabusinesses.com.

What is the fee for shutting down a LLC in Michigan?

The filing fee for dissolving an LLC in Michigan is $10. After submitting the Articles of Dissolution, the Department of Licensing and Regulatory Affairs, Corporations Division will mail you a Certificate of Dissolution to validate that the LLC has been officially dissolved.

What is the process for shutting down an LLC?

To shut down an LLC, you must submit a concluding tax return to both the state and the IRS. Be sure to tick the box indicating it is the LLC’s last return. Additionally, complete Schedule K-1 and give a copy to each member so they can accurately report any gains or losses on their personal taxes.

What is the duration of an LLC in Michigan?

In Michigan, you must submit a Certificate of Assumed Name to the Michigan Department of Licensing and Regulatory Affairs by mail in order to use an assumed name. This registration is valid for five years and comes with a filing fee of $25.

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

The process of LLC Dissolution is also referred to as Articles of Dissolution or a Petition for Dissolution.