In Kansas, it is required to dissolve a company legally in order to save legal and administrative expenditures. In this article, we will outline the steps necessary to dissolve your business entity in Kansas.
We will also provide some tips on how to ensure that the dissolution process goes as smoothly as possible. So if you are ready to say goodbye to your LLC in Kansas, keep reading!
Step 1: Follow Your Kansas LLC Operating Agreement
The first step in dissolving an LLC in Kansas is to check your LLC operating agreement. This document will likely contain information on how the dissolution process should be carried out.
A dissolution vote must be held. Once this is done, you can notify creditors and settle any business debts, distribute LLC assets, and move on to the next step.
Step 2: Close All Tax Accounts
The next step in dissolving an LLC in Kansas is to close all tax accounts associated with your limited liability company. This includes state and federal taxes. You will also need to pay any outstanding taxes owed by the LLC. Failure to do so could result in financial penalties.
There is no tax clearance required to dissolve a Kansas LLC. However, the Kansas SOS will not process the dissolution unless you file any outstanding annual reports.
Step 3: File Articles of Dissolution
The following step is to file articles of dissolution with the Kansas Secretary of State. The dissolution documents should include the business entity name, the date of the dissolution and the reason for dissolving the LLC, and the signature of LLC members and authorized person.
You can file online, by mail, or in person. Online filing will cost you $30 and $35 by mail. If you file by mail, send your completed forms and payment to:
Kansas Office of the Secretary of State
Memorial Hall, 1st Floor
120 SW Tenth Avenue
Topeka, KS 66612-1594
Once the Kansas Secretary of State approves your dissolution, they will send you a confirmation letter. This officially dissolves your LLC in Kansas.
After Dissolving Your LLC
Once your Kansas LLC is dissolved, you will be free to wind up any remaining business affairs and move on to new ventures. Keep in mind that dissolving your LLC does not mean that you are no longer liable for any debts or obligations the LLC may have incurred. Make sure to settle all outstanding debts and liabilities before you dissolve your LLC.
Does Kansas Require an Annual Report?
Yes, All registered Kansas corporations are required to file an annual report. This is required by Kansas law. The filing fee is $55.
Can I Just Close My Business?
No, in Kansas, you must dissolve your LLC legally in order to save legal and administrative dissolution. Failing to do so could result in penalties.
Dissolving an LLC in Kansas: Conclusion
Dissolving your LLC in Kansas is a relatively simple process. Just make sure to follow all the steps outlined in this article, and you will be on your way.
Be sure to also consult with an attorney to ensure that everything is done correctly and that you are not liable for any debts or obligations of the LLC. Thanks for reading!