How Do I Close My Small Business in Georgia?

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Steps to Close an LLC in Georgia

  • To close an LLC in Georgia, you need to file form CD-145. Once this is processed, you will receive a certificate of termination for your business. However, before you can get this, you need to close any tax accounts you still have open and will have to pay any past-due balances in those accounts before you can close them.

Dissolving a Georgia LLC

  • To end a Georgia LLC, just file form CD-415, Certificate of Termination, with the Georgia Secretary of State, Corporations Division (SOS). The certificate of termination is available on the Georgia SOS website or your Northwest Registered Agent online account.

Proper Steps to Close a Business

  1. Collect outstanding receivables before announcing closure
  2. Notify employees about the closure
  3. Formally agree to close the business
  4. Create an exit strategy addressing steps below
  5. Dissolve your business entity
  6. Notify stakeholders, including customers and creditors
  7. File paperwork to officially dissolve business

Ten Steps to Close Your Business

  1. Plan closure in time
  2. Discuss strategy with partners or board
  3. Announce intent to dissolve
  4. File articles of dissolution
  5. Notify IRS within 30 days
  6. Admit it’s time to close
  7. Follow required process
  8. Protect assets and credit
  9. Clearly notify stakeholders
  10. Prevent potential lawsuits

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