There are a few crucial measures you must follow if you are a business owner in Georgia and have decided to dissolve your enterprise in order for the process to run properly. What you should know is as follows.
Holding a vote among your shareholders (if your company is a corporation) or members (if your LLC) to approve the dissolution is the first stage in dissolving your firm. This typically calls for a two-thirds majority vote.
Second Step: Submit Articles of Dissolution to the Secretary of State
Following the vote, you must submit Articles of Dissolution to the Georgia Secretary of State’s office. This paperwork must be filed for a price of $100. Online or mail-in filing is an option.
Step 3: Inform All Relevant Parties
After submitting your Articles of Dissolution, you must inform all creditors, clients, and other parties that your company is dissolving. Additionally, you must revoke any licenses, permits, or registrations your company has with federal, state, or municipal authorities.
Step 4: Resolve All Debts and Obligations
You must resolve all unpaid debts and obligations before your company can be formally dissolved. This includes any unpaid rent, taxes, or other bills. In Georgia, does an LLC require a business license? Yes, a business license is necessary for all LLCs working in Georgia. You might also need to apply for more licenses and permits from local authorities depending on where your company is located. Do I need a business license in Georgia? All companies doing business in Georgia must have a business license. The cost of the license varies according to the business’s location and type. Do I need a business license to sell online in Georgia? A business license is necessary if you’re selling products or services online in Georgia. On your online transactions, you could additionally need to gather and submit sales tax.
In conclusion, it might be difficult to dissolve a business in Georgia, but if you follow the steps listed above and make sure you have all the required licenses and permits, you can make the process go smoothly and prevent any future legal or financial problems.
The Georgia Secretary of State’s website allows for online company name reservations, which may be completed in about 15 minutes. The company name will be held for 30 days once the reservation is authorized.