It’s not easy to decide to close a firm, but when the time comes to move on, it’s crucial to do it properly. If you are the owner of an LLC in New Hampshire, you must properly dissolve your business in accordance with state rules and regulations. Here is a step-by-step tutorial on closing an LLC in New Hampshire.
Holding a meeting with all members to debate the decision is the first stage in closing an LLC in the state of New Hampshire. According to RSA 304-C:137 of the New Hampshire Revised Statutes Annotated, the operating agreement of an LLC must indicate the number of votes necessary to dissolve the business. If the agreement is silent on this topic, a majority of the members must agree to dissolve the organization.
The Certificate of Dissolution must then be submitted to the New Hampshire Secretary of State. Important details regarding the LLC must be provided on the form, including the name and address of the business, its creation date, its reason for dissolution, and its effective date. The New Hampshire Secretary of State will collect $35 as filing fees for the Certificate of Dissolution.
You must pay up any outstanding debts, taxes, and creditors’ claims prior to dissolving the LLC. Give notice of the company’s dissolution to your creditors and pay off any outstanding debts. If the LLC has any remaining assets after satisfying its debts, divide them among the members in accordance with their ownership stakes. Cancel Business Licenses and Permits in Step 4
You must revoke the LLC’s business licenses and permits once the debts have been paid in full and the assets have been divided. To find out which permits you need to cancel and how to cancel them, contact the State of New Hampshire. A final tax return could also need to be submitted to the New Hampshire Department of Revenue Administration.
Any commercial activity involving the sale of goods or services to clients in order to make a profit is referred to as a business. A business can exist as a sole proprietorship, partnership, corporation, or limited liability company, among other structures. Entrepreneurs should select the sort of business that best meets their objectives because each one has unique legal and tax ramifications.
In conclusion, closing an LLC in New Hampshire necessitates abiding by all applicable laws and rules. Organize a meeting of all members, submit the Certificate of Dissolution to the Secretary of State, settle all outstanding debts, and cancel all business permissions and licenses. You can officially dissolve your LLC and start a new chapter in your life by doing this.