Obtain the Article of Dissolution Form as the first step. Obtaining the correct form is the first step in submitting an article of dissolution in Colorado. You can request a paper copy by mail or download the form from the Colorado Secretary of State’s website.
Step 2: Finish the Form Once you get the form, fill it out with the necessary data. This information comprises the name of your LLC, the date of dissolution, and the cause of dissolution. The individual or organization receiving the assets of the company must also be identified, along with their name and address.
Step 3: Submit the Form
Once the form has been filled out, send it to the Colorado Secretary of State. The form can be submitted online or by mail. For online submissions, the filing price is $25; for paper submissions, it is $50.
Step 4: Inform Other Agencies
After submitting the article of dissolution to the Colorado Secretary of State, you must inform other organizations of the dissolution, including the Internal Revenue Service (IRS) and the Colorado Department of Revenue. By doing this, you’ll make sure your LLC is no longer liable for any taxes or other costs.
In Colorado, is it Possible to Dissolve a Delinquent LLC? A delinquent LLC may be dissolved in Colorado, yes. However, before submitting the article of dissolution, you must bring the LLC’s filings current and settle any unpaid costs.
How do I Remove a Member from an LLC in Colorado? The processes provided in your LLC’s operating agreement must be followed in order to dissolve an LLC in Colorado. If the member removal clause in your operating agreement is absent, you must abide by the default rules set out in the Colorado Revised Statutes. How is an LLC Taxed in Colorado, in addition? LLCs are taxed in Colorado as pass-through entities, which means that its owners receive a portion of the company’s income and must disclose it on their personal tax filings. The corporate income tax in Colorado does not apply to LLCs.
Which is preferable, an LLC or a sole proprietorship? The response to this query is based on the particular demands and objectives of your company. In contrast to sole proprietorships, which are easier to set up and administer and allow for multiple owners, LLCs offer limited liability protection for owners. To decide which structure is appropriate for your organization, speak with a business attorney or accountant.