Are you looking for the answer to how to close business in Maryland? This article will provide a detailed guide on the steps you need to take to close your business in the state of Maryland.

How to Close Business in Maryland?

To close your withholding account in Maryland, call 410-260-7980 or 1-800-638-2937, Monday – Friday, 8:30am to 4:30pm. You can also close your withholding account by filing Articles of Cancellation with the Maryland State Department of Assessments and Taxation (SDAT). The filing fee for Articles of Cancellation is $0 for non-expedited processing or $50 for expedited processing.

To close your sales and use tax account in Maryland, call 410-260-7980 from Central Maryland, or 1-800-638-2937 from elsewhere, Monday – Friday, 8:30 a.m. – 4:30 p.m.

Dissolving an LLC in Maryland

To dissolve an LLC in Maryland, you need to file Articles of Cancellation with the Maryland State Department of Assessments and Taxation (SDAT). The process involves informing the MD Department of Assessments and Taxation that you want to close your business. Once the Maryland Secretary of State has accepted your Articles of Cancellation, your LLC will be officially dissolved.

You can submit Articles of Cancellation with the Maryland State Department of Assessments and Taxation (SDAT) either in person or by mail.

Conclusion

Closing a business in Maryland is a multi-step process. To close your withholding account, you need to call 410-260-7980 or 1-800-638-2937, Monday – Friday, 8:30am to 4:30pm. You can also close your withholding account by filing Articles of Cancellation with the Maryland State Department of Assessments and Taxation (SDAT). To dissolve an LLC in Maryland, you need to file Articles of Cancellation with the Maryland State Department of Assessments and Taxation (SDAT).

If you have more questions about closing a business in Maryland, visit Atlantabusinesses.com, a great resource for answers to all your questions about selling a business and about business brokers.

What is the fee for dissolving a business in Maryland?

The fee for dissolving a Maryland Corporation is $100 and if you need it done quickly, there is an extra $50 fee.

What is the fee for dissolving an LLC in Maryland?

The filing of articles of dissolution or cancellation is free unless you require it to be done quickly, in which case there is a fee of $50 per document.

What is the process for shutting down an LLC in Maryland?

In order to dissolve a Maryland LLC, “Articles of Cancellation” must be sent to: Department of Assessments and Taxation, Charter Legal Department, 301 W. Preston Street, Room 801, Baltimore, MD 21201.

How should a business be properly shut down?

1
Submit your final tax return and any other related forms.
2
Take care of any employees you have.
3
Pay any taxes you owe.
4
Send the necessary paperwork to any contractors you have worked with.
5
Close your IRS business account and cancel your EIN.
6
Retain your records.