Do you want to know how to dissolve an LLC in Nevada? If you’ve decided to dissolve your Nevada LLC, you’re likely wondering how to do it the right way. In this guide, you will learn how to dissolve an LLC in Nevada. We will also share tips to make the process of LLC voluntary dissolution in Nevada easier.
Steps to Dissolve an LLC in Nevada
1. Organize the LLC Members’ MeetingThe first step in dissolving Nevada LLC is to organize a meeting of LLC members. It is imperative that all the members of an LLC agree to voluntarily dissolve the company. As there’s no legal requirement to hold a meeting of LLC members, but it’s good to do this to avoid any issues. You should also check your company’s operating agreement to define formal steps for dissolving the LLC in Nevada.
2. Submit Nevada LLC Articles of DissolutionArticles of dissolution must be filed with the Nevada Secretary of State in order to formally dissolve your Nevada LLC. This is the only legal way to permanently dissolve an LLC. You’re also required to submit other documents to the state, such as the annual report, tax filing, and any taxes due. These documents are required to be made available to the Nevada Secretary of State and any other state agencies.
3. Tax Accounts of LLC In NevadaThe next step to dissolving Nevada LLC is the closing of all the business tax accounts. You should close your LLC’s tax accounts as soon as possible. If the company is not currently required to submit tax information, you should inform the IRS. If your Nevada LLC is required to file tax returns, they should be filed within two weeks of dissolution.
4. Distribution of LLC AssetsThe process of distribution of remaining assets is governed by NV Rev Stat § 86.541 (2017). In the case of dissolving a Nevada LLC, it is important to distribute the remaining assets to the members of the LLC so that there are no outstanding claims against the company.
5. Issuing Notices to Creditors and Resolving Any DisputesAfter dissolving your Nevada LLC, you may be required to notify any of your creditors and/or settle any of your claims. If there are any debts outstanding against the company then the company may be liable for these debts. So, you need to settle these company’s debts prior to dissolving your Nevada LLC.
How to Dissolve Domestic LLC in Nevada?The dissolution process for domestic LLCs is a little different than it is for Limited Liability Companies registered in other states. You’ll need to file two separate documents to voluntarily dissolve your domestic LLC. The first document is a dissolution petition and the second is the certificate of dissolution. These documents need to be filed with the Nevada Secretary of State. After filing the dissolution documents with the Secretary of State, you will receive a copy of the petition. There is a filing fee that must be paid once the petition has been submitted. The county where your registered office is located will send you a copy of your certificate of dissolution once it has been filed. You’ll need to pay a filing fee to file this document.
How To Dissolve Foreign LLC in Nevada?If your LLC was formed outside the state of Nevada, you’ll need to complete a different paper form known as a Certificate of Cancellation for Foreign Limited Liability Company. Articles of Dissolution and this form are almost the same. It includes the same basic information, but the additional filing details will be different. Just like with the Articles of Dissolution, you will need to submit a Certificate of Cancellation for Foreign Limited Liability Company to the Nevada Secretary of State along with the $100 filing fee.
Reasons For Dissolving LLC In NevadaHere are some reasons to dissolve an LLC in Nevada:
- To Avoid personal responsibility for the LLC’s business debts and liabilities
- To liquidate the LLC’s assets and distribute them to the members
- To wind down the affairs of the LLC in an orderly manner
Impact of LLC Dissolution in NevadaThe consequences of dissolving an LLC in Nevada involve ceasing the business operation. And to distribute all the LLC assets to its members, as the requirement of a Nevada LLC Operating Agreement. Dissolving an LLC is an ideal way to end a business that is no longer profitable.
Here’s How Goodbye Startup Can Make It Easier For You to Dissolve Your LLC in Nevada Without Any HassleAn LLC dissolution in Nevada may seem straightforward at first look, but unexpected challenges may occur. When dissolving a Nevada Limited Liability Company, it is highly advised to get specialist assistance. If you need help dissolving your LLC in Nevada but don’t know anybody who can handle it for you, reach out to experts at Goodbye Startup. Professionals at Goodbye Startup assist Nevada business owners with closing down and dissolving their companies in accordance with regulations. If you hire them, they will help you dissolve your LLC and avoid any legal complications. The process of dissolving your Nevada limited liability company will be very simple and stress-free when availing of experts’ assistance. To Schedule Free Consultation Call With Experts at Goodbye Startup, Click Here.
Have a question?
Write to us to get a free consultation with our experts.Speak to a expert