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What steps do I need to take to dissolve my LLC in Georgia?

Picture of Chris Battis By   ·  1 minute read

If you want to dissolve your LLC in Georgia, you need to follow the proper legal procedures. Here are the steps you need to take:

  1. Vote to dissolve the LLC: You need to hold a meeting and pass a resolution to dissolve the LLC. This should be done according to the procedures outlined in your operating agreement. If you don't have an operating agreement, the default rules in Georgia's LLC Act will apply.
  2. File articles of dissolution: You need to file articles of dissolution with the Georgia Secretary of State. This can be done online or by mail. The articles must include the name of the LLC, the date of dissolution, and a statement that the LLC has paid off its debts or made adequate provision for them.
  3. Terminate business licenses and permits: You need to terminate any business licenses and permits that the LLC holds with the state or local government. This includes licenses for professional services, sales tax permits, and permits from regulatory agencies.
  4. Close bank accounts and pay creditors: You need to close any bank accounts that belong to the LLC and distribute the remaining assets to creditors. If there are not enough assets to pay off all the creditors, the members of the LLC may be personally liable for the debts.
  5. File final tax returns: You need to file a final tax return with the Georgia Department of Revenue and the IRS. You also need to mark the final return as the "final return" and provide appropriate information to the tax authorities.
  6. Notify business partners and customers: You need to notify business partners, customers, and other interested parties that the LLC is being dissolved. This can be done by mail, email, or an announcement on your website.

Note that these steps may vary depending on the specific circumstances of your LLC. You may need to follow additional steps if your LLC has special licenses or permits, has outstanding legal disputes, or is subject to ongoing contractual obligations. It's always best to consult with a licensed attorney to ensure that you follow the correct procedures and minimize any potential liabilities.