How to Dissolve a North Carolina LLC
To dissolve a North Carolina LLC, follow these steps:
- Submit Articles of Dissolution
- Find the form online at the North Carolina Secretary of State’s website.
- Fill out the form correctly.
- File Articles of Dissolution
- File the form with the North Carolina Secretary of State, Corporations Division.
- Include business name, address, date, agent’s name and address, and a signature.
Understanding Dissolution and Termination
- Dissolving vs. Terminating: These terms have distinct legal meanings.
- Entity Removal: A member can be removed from an LLC by following the necessary procedures.
- Voluntary Dissolution: LLC members can agree to close the business voluntarily.
Completing the Dissolution Process
- After processing the application, dissolving takes 5-10 days in North Carolina.
- Conduct a meeting for all members to approve the decision to dissolve.
- Handle assets and liabilities before filing the Articles of Dissolution.
Filing and Concluding the Process
- Submit the Certificate of Dissolution to officially dissolve the North Carolina LLC.
- File the Articles to wind up the business operations.
- Pay the $30 filing fee and finalize the dissolution process.
Additional Information
- Knowing the distinction between dissolving and terminating an LLC is vital.
- Compliance with state requirements is necessary to avoid involuntary dissolution.