The dissolution package contains all forms to dissolve a LLC or PLLC in Texas, step by step instructions, addresses, transmittal letters, and other information.
The dissolution package contains all forms to dissolve a LLC or PLLC in Texas, step by step instructions, addresses, transmittal letters, and other information.
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Dissolving an LLC with a spouse in Texas refers to the legal process of terminating a limited liability company that is jointly owned by married individuals.
Yes, there are certain requirements to dissolve an LLC with a spouse in Texas. These may include filing appropriate documents with the Texas Secretary of State, settling any outstanding debts or liabilities, and obtaining necessary approvals from all members of the LLC.
Yes, you can still dissolve an LLC with your spouse in Texas even if you're not on good terms. However, it may require effective communication and cooperation to navigate the process smoothly.
Failing to follow the proper steps to dissolve an LLC with a spouse in Texas can result in ongoing obligations and liabilities of the LLC, potential legal disputes, and difficulty in dividing or transferring assets.
While hiring a lawyer is not mandatory, it is highly recommended to consult with a knowledgeable attorney who can guide you through the dissolution process, ensure all legal requirements are met, and help protect your interests.
The timeline to dissolve an LLC with a spouse in Texas can vary depending on various factors, such as the complexity of the LLC's affairs, any pending legal matters, and the efficiency of completing required documentation. It is best to consult with a lawyer to get an estimate tailored to your specific situation.
When dissolving an LLC with a spouse in Texas, it is generally recommended to follow a fair and equitable distribution of assets as outlined in the operating agreement or a mutually agreed-upon agreement. However, specific arrangements can be made upon mutual consent, but it's important to consider legal and tax implications.
When dissolving an LLC with a spouse in Texas, it is essential to consider potential tax obligations, such as filing final federal and state tax returns, paying any outstanding taxes, and properly documenting the dissolution for tax purposes. Consulting with a tax professional is advisable to ensure compliance.
Yes, after dissolving an LLC with your spouse in Texas, you can certainly start a new LLC together. Ensure that you adhere to all legal requirements and take any lessons learned from the previous venture into account for a smoother experience.
In certain cases, alternatives to dissolution may exist, such as transferring ownership of the LLC to one spouse, amending the operating agreement, or bringing in new members. Consulting with a legal professional can help explore available options tailored to your unique circumstances.
               Texas Statutes: Business Organization Code; Title 1, Chapter 11 & Title 3, Chapter 101, Subchapter L
DISCUSSION
A Texas limited liability company (LLC) is dissolved and it must wind up its business affairs upon the happening of the first to occur of the following:
Unless otherwise provided in the articles of organization or in the regulations, an election to continue the business of the LLC must be made within 90 days after the date of the occurrence of the event of dissolution. If an election to continue the business of the LLC is so made, the election is not effective unless an appropriate amendment extending the period fixed for the duration of the LLC or deleting the event specified in the articles of organization that caused the dissolution is made by the LLC to its articles of organization during the three-year period following the date of the event of dissolution.
When the LLC is dissolved, the affairs of the business must be wound up as soon as reasonably practicable. The winding up is accomplished by the managers or members or by any other person or persons designated by the articles of organization, by the regulations, or by resolution of the managers or members. (A court of competent jurisdiction, on cause shown, may wind up the LLC's affairs on application of any member or the member's legal representative or assignee and may appoint a person to carry out the liquidation and may make all other orders, directions, and inquiries that the circumstances require.)
When the LLC is dissolved, and BEFORE it files Articles of Dissolution, the LLC
After paying or discharging all of its obligations, or making adequate provisions for payment and discharge of those obligations, the LLC must then distribute the remainder of its assets, either in cash or in kind, among its members according to their respective rights and interest.
On the winding up of a LLC, the assets must be paid or transferred as follows:
If the LLC has elected to dissolve by action of its members, a copy of the resolution to dissolve, together with a statement that the resolution was adopted in accordance with Section D, Article 2.23, of this the Limited Liability Company Act.
When the articles of dissolution filed, there must be filed with them a certificate (#05-305 or #05-329) from the Comptroller of Public Accounts that all franchise taxes have been paid and that the company is in good standing for the purpose of dissolution.
A tax year ends on December 31st. The company must be in good standing through the date of receipt of the articles of dissolution by the secretary of state. A post mark date will not be considered as the date of receipt. The Secretary of State suggests that companies attempting to dissolve prior to the end of the franchise tax year, make their submissions well in advance of the tax deadline.
Limited liability companies not dissolved on or before December 31st will be subject to the new franchise tax year's requirements as of January 1st.
Note: All Information and Previews are subject to the Disclaimer
located on the main forms page, and also linked at the bottom of all search
results.
               Texas Statutes: Business Organization Code; Title 1, Chapter 11 & Title 3, Chapter 101, Subchapter L
DISCUSSION
A Texas limited liability company (LLC) is dissolved and it must wind up its business affairs upon the happening of the first to occur of the following:
Unless otherwise provided in the articles of organization or in the regulations, an election to continue the business of the LLC must be made within 90 days after the date of the occurrence of the event of dissolution. If an election to continue the business of the LLC is so made, the election is not effective unless an appropriate amendment extending the period fixed for the duration of the LLC or deleting the event specified in the articles of organization that caused the dissolution is made by the LLC to its articles of organization during the three-year period following the date of the event of dissolution.
When the LLC is dissolved, the affairs of the business must be wound up as soon as reasonably practicable. The winding up is accomplished by the managers or members or by any other person or persons designated by the articles of organization, by the regulations, or by resolution of the managers or members. (A court of competent jurisdiction, on cause shown, may wind up the LLC's affairs on application of any member or the member's legal representative or assignee and may appoint a person to carry out the liquidation and may make all other orders, directions, and inquiries that the circumstances require.)
When the LLC is dissolved, and BEFORE it files Articles of Dissolution, the LLC
After paying or discharging all of its obligations, or making adequate provisions for payment and discharge of those obligations, the LLC must then distribute the remainder of its assets, either in cash or in kind, among its members according to their respective rights and interest.
On the winding up of a LLC, the assets must be paid or transferred as follows:
If the LLC has elected to dissolve by action of its members, a copy of the resolution to dissolve, together with a statement that the resolution was adopted in accordance with Section D, Article 2.23, of this the Limited Liability Company Act.
When the articles of dissolution filed, there must be filed with them a certificate (#05-305 or #05-329) from the Comptroller of Public Accounts that all franchise taxes have been paid and that the company is in good standing for the purpose of dissolution.
A tax year ends on December 31st. The company must be in good standing through the date of receipt of the articles of dissolution by the secretary of state. A post mark date will not be considered as the date of receipt. The Secretary of State suggests that companies attempting to dissolve prior to the end of the franchise tax year, make their submissions well in advance of the tax deadline.
Limited liability companies not dissolved on or before December 31st will be subject to the new franchise tax year's requirements as of January 1st.
Note: All Information and Previews are subject to the Disclaimer
located on the main forms page, and also linked at the bottom of all search
results.