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Texas Dissolution Package to Dissolve Limited Liability Company LLC

Pasadena Texas Dissolution Package to Dissolve Limited Liability Company LLC

Category:

Limited Liability Company - Dissolution

State:

Texas

City:

Pasadena

Control #:

TX-DP-LLC-0001

Format:

Instant download

Description

The dissolution package contains all forms to dissolve a LLC or PLLC in Texas, step by step instructions, addresses, transmittal letters, and other information.

Texas Limited Liability Company LLC Formation Package

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Single Member Limited Liability Company LLC Company Agreement

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LLC Notices, Resolutions and other Operations Forms Package

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Notice of Meeting of Members of LLC Limited Liability Company to consider dissolution of company

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Pittsburgh Jury Instruction - Controlled Substances - Possession With Intent To Distribute

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Plano Jury Instruction - Controlled Substances - Possession With Intent To Distribute

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Hillsborough Time and Material Building and Construction Contract - Owner to Supply Materials

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Portland Jury Instruction - Controlled Substances - Possession With Intent To Distribute

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Santa Ana Jury Instruction - Controlled Substances - Possession With Intent To Distribute

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Sample Letter for Warranty for AC Unit

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Direct Deposit Form for Child Support

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Sample Letter for Proposal to Buy into Bus...

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Agreement for Purchase and Sale of Rights ...

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Complaint For Declaratory Judgment for Ret...

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Change or Modification Agreement of Deed o...

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Motion to Modify or Amend Divorce Decree t...

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Sample Letter for Apology to Customer

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Sample Letter for Acceptance of Job Offer ...

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How to fill out Texas Dissolution Package To Dissolve Limited Liability Company LLC?

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FAQ

The time required to dissolve an LLC in Texas varies depending on several factors such as the complexity of the business structure and the completeness of the documents. Generally, if all paperwork is filed correctly and promptly, it can take between a few days to several weeks to complete the dissolution process. Using the Pasadena Texas Dissolution Package to Dissolve Limited Liability Company LLC simplifies this process significantly, allowing you to navigate the requirements efficiently. By choosing uslegalforms, you gain access to a reliable platform that ensures you meet all necessary state requirements for a smoother dissolution journey.

Dissolving an LLC is not inherently hard, but it requires attention to detail and compliance with state laws. You need to ensure all debts are settled and that you file the appropriate paperwork. The Pasadena Texas Dissolution Package to Dissolve Limited Liability Company LLC simplifies this process, making it easier to complete the necessary steps confidently.

Getting your LLC undissolved involves petitioning for reinstatement with the Texas Secretary of State. You will need to complete specific forms and provide any outstanding fees. The Pasadena Texas Dissolution Package to Dissolve Limited Liability Company LLC can assist you with the required procedures and documentation.

If an LLC is not dissolved, it may continue to incur taxes and fees, potentially leading to legal issues. Furthermore, the members may remain personally liable for debts and obligations incurred by the company. Engaging with the Pasadena Texas Dissolution Package to Dissolve Limited Liability Company LLC can help you avoid these complications by ensuring proper dissolution.

To undissolve an LLC, you need to file a petition with the Secretary of State to reinstate it. This process may vary depending on how the LLC was dissolved in the first place. The Pasadena Texas Dissolution Package to Dissolve Limited Liability Company LLC is a handy resource, offering forms and instructions to help navigate reinstatement.

Forcing an LLC to dissolve typically involves a legal process that may require a vote from members or court intervention. If members cannot agree on dissolution, a court may be petitioned to facilitate the process. The Pasadena Texas Dissolution Package to Dissolve Limited Liability Company LLC provides the necessary documentation and guidance for this situation.

To shut down an LLC in Texas, you must file a Certificate of Termination with the Texas Secretary of State. This form includes details like the LLC's name and the reason for dissolution. Utilizing the Pasadena Texas Dissolution Package to Dissolve Limited Liability Company LLC can simplify this process and ensure that you meet all necessary requirements.

Before you dissolve your LLC, take time to understand the implications of closure. You should settle all financial obligations, such as paying taxes and debts, to avoid future liabilities. It's also beneficial to distribute any remaining assets among the members. For a streamlined process, consider using a Pasadena Texas Dissolution Package to Dissolve Limited Liability Company LLC from US Legal Forms to guide you through these important steps.

To dissolve your LLC in Texas, you will need to fill out the Certificate of Termination form. This form is essential for notifying the state that you intend to cease your business operations. Additionally, ensure that all debts and obligations of the LLC are settled. You can find a comprehensive Pasadena Texas Dissolution Package to Dissolve Limited Liability Company LLC on the US Legal Forms platform, which simplifies this process for you.

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Texas Dissolution Package to Dissolve Limited Liability Company LLC

TEXAS
LIMITED LIABILITY COMPANY DISSOLUTION

STATUTORY REFERENCE:

Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 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:

the period fixed for the duration of the LLC expires;
the occurrence of events specified in the articles of organization or in the regulations to cause dissolution;
the action of the members to dissolve the LLC;
if no capital has been paid into the LLC, the act of a majority of the managers or members named in the articles of organization to dissolve the limitedÂ liability company;
except as otherwise provided upon the death, expulsion, withdrawal pursuant to or as provided in the articles of organization or regulations, bankruptcy, or dissolution of a member or the occurrence of any other event which terminates the continued membership of a member in the LLC; or
entry of a decree of judicial dissolution under Section 6.02 of this Act.

A LLC is not upon the happening of an event of dissolution if there is at least one remaining member, and the business of the LLC is continued by the vote of that/those members as stated in the articles of organization or regulations of the LLC, or if not so stated, by all remaining members.

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 amendmentÂ 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

must cease to carry on its business except as may be necessary for the winding up process.

must send a written notice by registered or certified mail of the intent of the LLC to dissolve to each known creditor of and claimant against the LLC.

must collect its assets, convey and dispose of such of its properties as are not to be distributed in kind to its members, pay, satisfy or discharge its liabilities and obligations, (or make adequate provisions for payment and discharge of those liabilities and obligations), and

must do all other acts required to liquidate its business and affairs.

Â In the event that the assets of the LLC are not sufficient to satisfy or discharge all the LLC's liabilities and obligations, the LLC must apply those assets so far as they will go to the just and equitable payment of the liabilities and obligations.

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 orÂ transferred as follows:

to the extent otherwise permitted by law, to creditors, including members who are creditors in satisfaction of liabilities (other than for distributions) of the LLC, whether by payment or by establishment of reserves;

unless otherwise provided by the articles of organization or regulations, to members and former members in satisfaction of the company's liability for distributions; and

unless otherwise provided by the articles of organization or regulations, to members its members according to their respective rights and interest.

When all liabilities and obligations of the LLC have been paid or discharged (or adequate provision has been made for those liabilities and obligations) and all of the remaining property and assets of the LLC have been distributed to its members according to their respective rights and interest, articles of dissolution are filed by a manager or authorized member, or in the case of a dissolution by action of the organizer of the LLC, by the organizer. In the event the LLC property and assets are not sufficient to satisfy and discharge all the LLC's liabilities and obligations and all the property and assets have been applied so far as they will go to the just and equitable payment of the LLC's liabilities and obligations, articles of dissolution are filed at that time.

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 thatÂ 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.

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Texas Dissolution Package to Dissolve Limited Liability Company LLC

TEXAS
LIMITED LIABILITY COMPANY DISSOLUTION

STATUTORY REFERENCE:

Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 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:

the period fixed for the duration of the LLC expires;
the occurrence of events specified in the articles of organization or in the regulations to cause dissolution;
the action of the members to dissolve the LLC;
if no capital has been paid into the LLC, the act of a majority of the managers or members named in the articles of organization to dissolve the limitedÂ liability company;
except as otherwise provided upon the death, expulsion, withdrawal pursuant to or as provided in the articles of organization or regulations, bankruptcy, or dissolution of a member or the occurrence of any other event which terminates the continued membership of a member in the LLC; or
entry of a decree of judicial dissolution under Section 6.02 of this Act.