Many business owners decide to establish their limited liability organizations (LLCs) in Delaware because of the state’s well-regarded favorable business legislation. You might eventually need to dissolve your Delaware LLC, nevertheless. A Certificate of Cancellation must be submitted to the Delaware Division of Corporations at that point.
A Certificate of Cancellation is what, exactly? A Certificate of Cancellation serves as a formal dissolution of your Delaware LLC. Your firm will cease to exist in the state of Delaware after the Certificate of Cancellation has been approved and filed. The Delaware Division of Corporations must receive the paperwork for filing.
You must carry out the following actions in order to file a Certificate of Cancellation in Delaware: 1. Download a Certificate of Cancellation form from the website of the Delaware Division of Corporations. 2. Completely fill out the form, making sure to include the name of your LLC, the date of dissolution, and the cause of dissolution. 3. Obtain the signature of an authorized individual, such as an LLC member or manager, on the document. 4. Pay the needed charge, which is $200 at the moment. 5. Mail or deliver the filled-out form and fee to the Delaware Division of Corporations.
You must also terminate the services of any Delaware-based registered agents. You must accomplish this by giving written notice of the dissolution of your LLC to your registered agent. The registered agent will then submit a Certificate of Resignation to the Delaware Division of Corporations once you’ve completed this.
Delaware charges $200 to dissolve an LLC. When you submit your Certificate of Cancellation, you must pay this charge to the Delaware Division of Corporations.
Several variables, including how quickly you can complete and submit your Certificate of Cancellation and whether there are any unresolved tax or legal issues, might affect how long it takes to dissolve a Delaware LLC. The Delaware Division of Corporations typically needs 2–4 weeks to process a Certificate of Cancellation.
The process of submitting a Certificate of Cancellation in Delaware is filling out a form, paying a fee, and delivering the form to the Delaware Division of Corporations. You won’t have to submit yearly reports or pay franchise taxes once your LLC has been formally dissolved. It is advised that you consult a competent attorney or accountant if you have any queries or worries about the dissolution of your Delaware LLC.