Memphis Tennessee Dissolution Package to Dissolve Limited Liability Company LLC
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How to fill out Tennessee Dissolution Package To Dissolve Limited Liability Company LLC?
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Checklist for closing a Business Standard Business License?a final Business Tax Return must be filed with the Tennessee Department of Revenue within 15 days of closing. Minimal Activity Business License?you only need to notify the County Clerk's Office at 423-209-6500 or email BusinessLicense@HamiltonTN.gov.
Because an LLC is set apart from its owners, creditors can only collect repayment through its assets. Once you file the paperwork to terminate your LLC, you must then liquidate your business's inventory and pay off creditors in the appropriate order of priority.
The only way a member of an LLC may be removed is by submitting a written notice of withdrawal unless the articles of organization or the operating agreement for the LLC in question details a procedure for members to vote out others.
How to Close a Corporation in Tennessee Have a board of directors' meeting.Have a shareholders' meeting in order to approve the motion to dissolve the corporation. Submit a written Consent to Dissolution to the Tennessee Secretary of State. Submit any required annual reports to the Tennessee Secretary of State.
The first step in terminating a Tennessee LLC is to file Form SS-4246, Notice of Dissolution (Limited Liability Company) with the Department of State, Division of Business Services (DBS). After you file notice of dissolution and wind up your business, you will have to file the appropriate Articles of Termination.
There is a $20 fee to file the notice. Your filing usually will be processed within 3-5 business days. You may also receive same-day processing if you deliver the notice in person. The SOS has a notice of dissolution form available for download.
The annual report fee is $20, and an additional $20 is required if any change is made concerning the registered agent/registered office. The annual report fee for LLCs is $300 minimum up to a maximum of $3000. The fee increases by an additional $50 per member for every member over 6 members up to a maximum of $3,000.
The only way a member of an LLC may be removed is by submitting a written notice of withdrawal unless the articles of organization or the operating agreement for the LLC in question details a procedure for members to vote out others.