Help: Sold property and need to dissolve LLC.

bluechipdc · March 19, 2006, 12:25am

Couple of questions: Thanks for any help on these.

Is there a simple form to use to dissolve an LLC?
Is it ok to disolve an LLC before the LLC’s fiscal year ends?
Can the LLC issue K1s to the members after it has been disolved?

Thanks. Chip in DC.

Redtigress · March 19, 2006, 2:22pm

Why would you want to dissolve it?

bluechipdc · March 19, 2006, 2:56pm

I set up the LLC just to purchase and sell that property. The objective of the LLC is complete.

Dave_T · March 20, 2006, 5:35am

LLCs are governed by state law. Check with your State Secretary of State, or the appropriate state agency that controls business registrations in the state where you registered the LLC, to see if you have to file anything. Maybe they have a standard form, or, you may need to send in “Articles of Dissolution”.

mcwagner · March 21, 2006, 9:56pm

But again, why dissolve it? only takes a minute to file a “zero” tax return. costs $300 to set up a new LLC if you ever need one.

bluechipdc · March 21, 2006, 10:01pm

I set up an LLC for each property.

bluechipdc · March 21, 2006, 10:06pm

I like to close things out and simplify things. Also, reduces any liability for the members of the LLC for that particular property in the future. I use a generic LLC doc that my attorney created for each LLC. So I only have to pay the jurisdictional requirement for the docs.
Thanks for your replies.