If you are a business owner in New Hampshire, and you want to dissolve your limited liability company, there are a few things you need to know.
In this article, we will discuss the dissolution process and what steps you need to take in order to close your company. We will also provide some tips on how to make the process as smooth as possible.
So if you are ready to say goodbye to your New Hampshire limited liability company, keep reading!
Step 1: Follow Your New Hampshire LLC Operating Agreement
If you have an operating agreement for your New Hampshire LLC, Dissolution may be as easy following the terms of that agreement.
Many times, the operating agreement will outline a procedure for dissolution that requires a dissolution vote by the LLC members. If this is the case, follow the procedures set forth in your agreement.
If you want to dissolve your New Hampshire LLC, the first step is to follow the provisions in your operating agreement.
This document should outline the procedures for dissolution and how the LLC assets of the company will be distributed.
The operating agreement will also outline a procedure for dissolution that requires a dissolution vote by the LLC members.
If you do not have an operating agreement, or if it is silent on dissolution, then you will need to follow the default rules set forth in the New Hampshire LLC statute.
Step 2: Close all tax accounts
In order to dissolve your New Hampshire LLC, you will need to obtain a tax clearance certificate from the New Hampshire Department of Revenue. This certificate proves that all taxes have been paid and that there are no outstanding tax liabilities.
To request the issuance of tax certification for your New Hampshire LLC dissolution, you will need to complete and submit Form AU-22, Certification Request Form which you can find on the New Hampshire Department of Revenue website. The tax clearance
fee is $30 and will be valid for 60 days from the date of issuance.
Step 3: File Articles of Dissolution
The next step in dissolving your LLC in New Hampshire is to file your Articles of Dissolution with the New Hampshire Secretary of State. This is a simple form that can be found on the Secretary of State website.
Be sure to include your LLC name, date of dissolution, and the reason for dissolution.
The filling fee of your New Hampshire LLC articles of dissolution is $35. You can file online, in person or you can mail to:
- New Hampshire Secretary of State
- Corporation Division NH Dept.
- PO Box 2054 Concord NH 03302-2054
Dissolution of Foreign LLC
If your LLC was formed in another state but is registered to do business in New Hampshire, you will need to file a Certificate of Cancellation with the New Hampshire Secretary of State.
This form can also be found on the Secretary of State website.
However, for the dissolution of you domestic New Hampshire LLC, you will need to file Articles of Dissolution with the New Hampshire Secretary of State. This form can be found on the Secretary of State website.
After Dissolving Your LLC in New Hampshire
It is important to notify your creditors that the company is no longer in operation. You can do this by sending a notice of dissolution to all the members of LLC.
This notice should include the name and address of your LLC, the date of dissolution, and a statement that the company is no longer in operation.
Creditors have a limited time frame to file a claim against your LLC after you have notify them of the dissolution.
In New Hampshire, the time frame is six months from the date of publication.
Finally, once all your business debts have been paid and all tax liabilities have been satisfied, you will need to file a final tax return for your LLC. This return should be filed with the New Hampshire Department of Revenue.
Reasons behind Dissolving New Hampshire LLC
There are a variety of reasons why you may want to dissolve your New Hampshire LLC. Maybe the company is no longer profitable, or maybe the members have decided to go their separate ways.
Whatever the reason, dissolving your LLC does not have to be a complicated process. By following the steps outlined above, you can dissolve your LLC in New Hampshire with ease.
How Much Tax Do I Pay If I Close My Limited Company?
If you are thinking about dissolving your LLC, one of the first questions you might have is how much tax you'll have to pay.
Depending on the circumstances of your dissolution, you may be required to pay taxes on any assets that are distributed to members or shareholders. You should consult with a tax advisor to determine what, if any, taxes you'll owe.
Can the IRS Audit a Dissolved Business?
Another common concern among those dissolving their LLC is whether or not the IRS can audit a dissolved business.
The answer to this question is yes, the IRS can audit a dissolved business.
Dissolving an LLC in New Hampshire: Conclusion
Dissolving your LLC in New Hampshire is a relatively simple process. Be sure to follow all the steps outlined above and you will be on your way to dissolving your LLC in no time.
Remember, once you have dissolved your LLC, you are no longer liable for any debts or liabilities of the company. So, if you are looking to dissolve your LLC, New Hampshire is the state for you.
Our research shows that it is preferable to hire a pro to file the articles of dissolution for you, such as IncFile.
Thank you for reading.