- Follow the operating agreement to dissolve the LLC. Get approval from LLC members.
- Close all business tax accounts with the IRS and state of Arizona. Pay off any outstanding taxes owed.
- File Articles of Dissolution with the Arizona Corporation Commission to provide notice the LLC is ending operations. There is a $35 filing fee.
- Settle remaining debts and distribute assets according to the operating agreement.
The dissolution process takes around 15-20 business days in Arizona. Reinstatement of a dissolved LLC is possible with a $100 filing fee.
Before officially dissolving, make sure to clear all taxes owed and get tax clearance from the Arizona Department of Revenue, which takes about 30 business days.
What is the Article of Dissolution in Arizona?
The articles of dissolution Arizona is the document required to officially dissolve a business entity registered with the state. Dissolution means to end the existence of a legal entity such as a corporation or limited liability company (LLC).
Articles of Dissolution, also known as Articles of Termination in Arizona, are the documents you use to voluntarily dissolve your LLC. Your LLC will cease to exist after this form has been submitted and processed.
How do you write an article of dissolution?
First, you need to be sure to include the legal name of your company. Second, your articles of dissolution should state the date when your company will be dissolved.
A. Dissolution by Delivering Articles
- File Articles of Dissolution with the state – LLCs will have to use Form LL 0020 Articles of Termination. Submit a cover sheet along with the form to the Arizona Corporation Commission.
- A statement that the dissolution was duly authorized by an act of the members or an act of the board of directors and, if applicable, with the approval required pursuant to section 10-11402.
Once this is done, you will need to file Articles of Dissolution with the Arizona Corporation Commission. These articles should include information such as the name of the LLC, the date of dissolution, and the signatures of the members.
Why Dissolve an LLC in Arizona?
There are a variety of reasons why you may choose to dissolve your LLC in Arizona. For starters, if you no longer wish to operate your current business, dissolving the LLC allows you to start fresh with a new venture.
Additional Information
To dissolve your Corporation in Arizona, you submit the completed Form CF: 0030 Articles of Dissolution and one exact copy to the Arizona Corporation Commission (ACC) by mail, fax, or in person.
The process to dissolve an LLC in Arizona involves several steps, including a vote to dissolve, tying up the affairs, and filing a Certificate of Dissolution with the Arizona Corporation Commission. Dissolving an LLC can be due to many reasons such as lack of profitability, change in ownership, retirement, legal disputes, or bankruptcy.