Provides an overview of the process for dissolving an LLC, including the legal requirements and tax implications.
What is Dissolution: This topic provides an overview of what dissolution of a limited liability company means, how it occurs, and the reasons for dissolution.
Types of Dissolution: This topic covers the various ways through which a limited liability company can be dissolved, either through voluntary dissolutions, involuntary dissolutions, or administrative dissolution.
Dissolution Agreement: This topic explains the importance of having a dissolution agreement, what it should contain, and how it protects members' interests.
Members' Rights in Dissolution: This topic explains how the rights of the members are protected during the dissolution process.
Required Filings for Dissolution: This topic outlines the paperwork and forms required to dissolve an LLC legally.
Tax Implications of Dissolution: This topic explains the tax implications that arise from the dissolution of an LLC, including filing final tax returns, paying taxes, and claiming deductions.
Distribution of Assets and Liabilities: This topic covers how assets and liabilities are distributed among the members during the dissolution process.
Winding Up: This topic explains the term winding up, which refers to the steps taken to settle an LLC's outstanding obligations, including creditors' claims.
Legal Proceedings/ Litigation: This topic outlines the legal proceedings that can arise during the dissolution process, including litigation, arbitration, and mediation, and how they are resolved.
Nondissolution Remedies: This topic outlines the available remedies that can be pursued if a company doesn't want to dissolve or if it is threatened with dissolution. This includes veto rights, buy-sell agreements, and liquidation agreements.
Post-Dissolution Issues: This topic explains the post-dissolution issues that may arise, such as cancellation of permits, termination of leases, and creditor claims.
Members' Liability During Dissolution: This topic explains the members' liability during the dissolution process, including whether members' personal assets can be used to pay off company debts.
Dissolving a Subsidiary: This topic explains how a parent company can dissolve one of its subsidiaries or branch office into the company.
Dissolving a Corporation: This topic provides an overview of what is involved when dissolving a corporation, including shareholder approval, filing with the Secretary of State, and liquidating assets.
Dissolving a Partnership: This topic provides an overview of what is involved when dissolving a partnership, including the partnership’s agreement, filing for dissolution, and distributing assets.