To dissolve a Kentucky LLC, you need to follow specific steps. This includes filing paperwork with the Secretary of State’s office, paying fees, settling debts, and notifying relevant parties. The process takes 3-5 business days and costs about $40.
Key Steps for Closure
- Comply with your operating agreement terms on dissolution.
- Close all tax accounts.
- Submit an Articles of Dissolution form.
Additional Information
- The fee to dissolve is $40, payable when you submit the paperwork.
- If your LLC operated in other states, additional steps may be needed to terminate registrations there. Research requirements for any states your LLC registered in.
- Dissolving an LLC is an important process. Follow key steps to legally close your business to avoid future liabilities or complications.
Reinstating a Dissolved LLC in Kentucky
Can you reinstate a dissolved LLC in Kentucky? To reinstate your Kentucky entity, you need to file a Reinstatement Application, Letter of Good Standing from the Kentucky Department of Revenue, and, for corporations, a Letter of Good Standing from the Division of Unemployment Insurance with Kentucky Secretary of State. Additionally, pay any fees, missing annual reports, and penalties.
Steps to Reinstatement
Step 1: Determine the Reason for Suspension or Dissolution
- Complete the Reinstatement Application form.
- Complete the Reinstatement Annual Report form.
- Optionally include a Statement of Change of Principal Office and Registered Office if needed.
Important Points
- Reinstating a Kentucky LLC requires requesting a reinstatement packet for your entity from the Secretary of State’s website and filing a Certificate of Restoration and all annual reports.
- LLC reinstatement is a complicated process that may confuse some who are not familiar with LLCs. Only persons authorized by the state can reinstate a dissolved LLC.