To dissolve an LLC in Tennessee, the members must vote to dissolve the company and file articles of dissolution with the Tennessee Secretary of State. The articles of dissolution should include necessary information such as the company name and ID number.
Winding Up Affairs
After submitting the articles, the LLC must wind up its affairs by liquidating assets and paying off creditors before receiving a certificate of dissolution from the Secretary of State.
Estimated Costs and Considerations
In Tennessee, the dissolution filing costs $20 and additional costs may include legal and tax advice. Consider hiring an LLC service for assistance to avoid potential delays or disputes.
Efficient Dissolution Process
Follow a 4-step guide to dissolve your Tennessee LLC efficiently:
- Follow your Operating Agreement for dissolution procedures and member notification.
- Close business tax accounts by submitting final tax returns.
- File Articles of Dissolution with the Secretary of State.
- Distribute remaining assets to members.