Any entrepreneur may find it challenging to decide to close a business. If you are unclear of how to close a business in Louisiana, the procedure might be much more perplexing. Fortunately, Louisiana’s laws are very specific about what must be done in order to legally terminate your firm. Here is a step-by-step instruction manual to assist you.
File Articles of Dissolution as the first step The filing of Articles of Dissolution with the Secretary of State is the initial step in closing a business in Louisiana. Using this legal document, your company will be formally dissolved and deleted from the state’s records. The Articles of Dissolution can be submitted online or by mail. Along with your firm name and state filing number, you must also include an authorized signatory’s signature.
Alert the Louisiana Department of Revenue in Step 2 You must inform the Louisiana Department of Revenue that your business is closing after submitting the Articles of Dissolution. A final tax return must be submitted, and any unpaid taxes must be paid. Penalties and interest may apply if a final tax return is not submitted on time.
Step 3: Inform Additional Agencies
You might also need to inform other organizations of your firm closure, depending on the nature of your industry. For instance, if you have employees, you must notify and give final paycheck information to the Louisiana Workforce Commission. Any business licenses or permissions that are no longer required may also need to be canceled.
Here are the procedures you must take if you want to establish a single proprietorship in Louisiana:
Step 1: Pick a Business Name
In Louisiana, your company name must be original and not in use by another company. On the website of the Louisiana Secretary of State, you can determine whether your preferred business name is available.
Step 2: Register Your Business You are not needed to register with the Louisiana Secretary of State if you are a sole proprietorship. Nevertheless, you might need to acquire any licenses and permits required for your firm.
Step 3: Obtain an EIN
The IRS may require you to obtain an Employer Identification Number (EIN) even if your business is a sole proprietorship. This will enable you to start a business bank account and, if necessary, hire staff. Louisiana trademarking a name or logo
The price to register a logo in Louisiana is $225 for each type of products or services. The price to register a name as a trademark in Louisiana is $225 for each class of products or services.
In conclusion, there are a number of procedures that must be followed in order to close a business in Louisiana, including submitting Articles of Dissolution, notifying the Louisiana Department of Revenue, and contacting additional authorities as required. Choosing a company name, registering your firm, and, if required, obtaining an EIN are all steps in the process of starting a sole proprietorship in Louisiana. Last but not least, the cost of trademarking a name or logo in Louisiana is $225 per class of products or services. Entrepreneurs may make sure they are abiding with Louisiana’s laws and safeguarding their intellectual property by following these recommendations.
The page does not mention how long it takes to register a business in Louisiana; instead, it discusses how to close a business in Louisiana. The processing time for business formation documentation, according to the Louisiana Secretary of State’s office, varies depending on the type of business and the manner of filing. Online filings typically take 3-5 business days, while mailed filings require 5-7 business days.