How Do I Dissolve My Illinois LLC?

File Articles of Dissolution: You can dissolve your Illinois LLC by filing Articles of Dissolution with the Illinois Secretary of State.
Notification Requirement: Yes, you will need to notify the Illinois Department of Revenue and the Illinois Department of Employment Security.
Cost Variation: The cost varies depending on the type of business entity. For example, it costs $5 to dissolve an Illinois general partnership, $150 to dissolve an Illinois corporation, and $100 to dissolve an Illinois LLC.

Need for Business Winding Up: You will need to wind up the affairs of your business before you can dissolve it in Illinois.
Tax Obligations: You must pay all outstanding fees, taxes, and obligations before dissolving your LLC.
Forms Required: The exact forms required for dissolution can depend on the type of business entity.

To dissolve your LLC, you need to submit the completed form LLC-35-15, Statement of Termination, to the Illinois Secretary of State along with the filing fee.
The process typically takes a few weeks to a few months, depending on various factors.

Although the state of Illinois does not require tax clearance for dissolving your LLC, it’s crucial to resolve any outstanding financial obligations beforehand.
To avoid liabilities and fees, consider using Business Filing Services to dissolve your LLC.
For corporate dissolution in Illinois, the process differs for C-Corporations and S-Corporations, including the approval via a shareholder meeting.
Filing fees, creditor notifications, and resolving outstanding issues are essential steps in the dissolution process.