How to Dissolve a LLC in Maryland (How to legally Close a Maryland Business)
MARYLAND BUSINESS SERVICES CORPORATION Incorporate in Maryland Maryland Professional Corporation Maryland Nonprofit Corporation MD Corporation Foreign Qualification Maryland Corporation Annual Report Maryland Corporation Dissolution LLC Form a LLC in Maryland MD LLC Foreign Qualification Maryland LLC Annual Report Maryland LLC Dissolution OTHER MARYLAND BUSINESS SERVICES Maryland Good Standing Certificate Maryland Apostille Maryland DBA Name Maryland Registered Agent MD Corporation Kit and Seal Maryland Certified Copies MD Business Reinstatement MD Company Name Reservation MD Tax Status Compliance Certificate MD Attorney Good Standing Certificate Maryland Property Deed MD Employer Requirements QUICK ENTRY FORMS Maryland Incorporation Maryland LLC MD Professional Corporation MD Nonprofit Corporation MD Foreign Corporation MD Foreign LLC MD LLC Dissolution MD Corporation Dissolution CORPORATE GLOSSARY   Administrative Dissolution Agent for Service of Process Apostille Apportionment Articles of Incorporation Articles of Organization Assumed Name At Will LLC Authorized Shares B Corporation Benefit Corporation Board of Directors Business Dissolution Business Entity Bylaws Certificate of Existence Certificate of Status Certified Copy Close Corporation Common Stock Conversion Corporate Bylaws Corporate Name Reservation Corporate Stock DBA Disregarded Entity Dividends ESOP Excise Tax Federal Tax ID Ficticious Name Foreign Qualification Franchise Tax General Partnership Good Standing Certificate Incorporator Involuntary Dissolution IRS Form 966 ITIN Limited Liability Company Limited Partnership Liquidation LLC LP Majority Shareholder Meetings Merger Nexus Non-Stock Corporation Nonprofit Corporation Obligated Member LLC Organizer Paid-in Capital Paid-in Surplus Par Value Personal Service Corporation Preferred Stock Privilege Tax Professional Corporation Professional Service Proxy Registered Agent Registered Office Reporting Requirements Revocation S Corporation Series LLC Service Mark Shareholder Sole Proprietor Stated Capital Statutory Agent Stock Certificate Term LLC Trade Name Trademark Trust Trustee Winding Up	What is Maryland LLC Dissolution? A Maryland LLC is created when the MD Department of Assessments and Taxation approves the Articles of Organization. A record of the Maryland LLC is added to the list of LLCs which have officially registered with the Maryland Department of Assessments and Taxation.  Once a LLC is registered with the Maryland Department of Assessments and Taxation, that LLC immediately has both reporting and tax obligations which incur penalties if the obligations are not met by the required deadlines.   more... less... A Maryland LLC is created when the MD Department of Assessments and Taxation approves the Articles of Organization. A record of the Maryland LLC is added to the list of LLCs which have officially registered with the Maryland Department of Assessments and Taxation.  Once a LLC is registered with the Maryland Department of Assessments and Taxation, that LLC immediately has both reporting and tax obligations which incur penalties if the obligations are not met by the required deadlines.   If you've registered a Maryland LLC with the Maryland Department of Assessments and Taxation and want to cease business activities you have to let the MD Department of Assessments and Taxation know that you intend to close your company.  Only after the MD Secretary of State has made sure that all of the obligations of the Maryland LLC have been fulfilled will the Department of Assessments and Taxation approve of the closure of the company. When the Maryland Department of Assessments and Taxation approves the closing of a MD LLC, that Maryland LLC is said to be Dissolved.   The process of Dissolving a Maryland LLC is called Maryland LLC Dissolution. If a Maryland Limited Liability Company has any creditors they must be notified after Dissolution of the Maryland LLC has been approved by the Maryland Department of Assessments and Taxation. If a Maryland LLC has been Forfeitted by the MD Department of Assessments and Taxation , in addition to filing all missing Personal Property Returns, that MD LLC must file for Reinstatement before it may legally be Dissolved by the Maryland SDAT. Why do I need to Dissolve a Maryland LLC? As soon as a Maryland LLC is registered with the MD Department of Assessments and Taxation, that LLC is responsible for recurring obligations of the Maryland Department of Assessments and Taxation and the Maryland Department of Assessments and Taxation.  If the Maryland LLC does not file reports or pay taxes then that MD Limited Liability Company could be responsible for penalties which go up as time goes by. Unless you Dissolve your Maryland LLC with the Maryland Department of Assessments and Taxation that MD Limited Liability Company will be responsible for all recurring fees and penalties. What do I have to do to Dissolve a Maryland LLC? Maryland LLC Dissolution is one part of a larger process commonly called the "Winding Up" process.   more... less... Maryland LLC Dissolution is one part of a larger process commonly called the "Winding Up" process. There are things you need to do before you can request approval of LLC Dissolution from the Maryland Department of Assessments and Taxation; and things that you have to do after the MD Department of Assessments and Taxation has approved Dissolution of the Maryland LLC.  What you have to do both before and after the Maryland LLC is Dissolved largely depends on if the Maryland LLC has commenced business and how many assets, debts and liabilities, if any, that the MD Limited Liabilty Company has.  If the Maryland LLC has not commenced business then the MD Limited Liability Company Dissolution process is easier. What do I have to do before I Dissolve a Maryland LLC? Things you need to do before you Dissolve a Maryland LLC.   1. Hold a Members meeting and record a resolution to Dissolve the Maryland LLC   2. File all required Annual Personal Property Returns with the Maryland Department of Assessments and Taxation   3. Clear up any business debt   4. Pay all taxes and administrative fees owed by the Maryland LLC more... less... 1. Hold a Members meeting and record a resolution to Dissolve the Maryland LLC If the Maryland LLC has any Members then a meeting should be held and a vote to Dissolve the Maryland Limited Liability Company taken. Minutes of the meeting should be recorded and retained in the business records. If the Maryland LLC does not have any Members then the Organizer(s) have to apply for Dissolution of the Maryland LLC. We can transcribe and compile minutes or approvals into a form that is legally recognized by the Maryland Department of Assessments and Taxation. 2. File all required Annual Personal Property Returns with the Maryland Department of Assessments and Taxation The Maryland Department of Assessments and Taxation will not approve the Dissolution of a MD LLC until all required reports have been filed. We can file any required Annual Personal Property Return with the MD Department of Assessments and Taxation. 3. Clear up any business debts All creditors of a Maryland LLC should be given notice of the pending LLC Dissolution. Each creditor should be given a mailing address to which they may submit claims as well as a deadline by which claims may be submitted. 4. Pay all taxes and administrative fees owed by the Maryland LLC The Maryland Department of Assessments and Taxation will definitely not approve the Dissolution of a Maryland LLC until all outstanding taxes and applicable registration and administrative fees have been paid. less... What do I have to do after I Dissolve a Maryland LLC? Things you have to do after you Incorporate in Maryland.   1. Distribute all remaining assets of the Maryland LLC   2. Close all business bank accounts of the Maryland LLC   3. Cancel all local business licenses and permits   4. File Form 966 with the IRS   5. Cancel the IRS account associated with the MD LLC's Federal Tax ID (EIN) more... less... 1. Distribute all remaining assets of the Maryland LLC If the Maryland LLC has any remaining assets, these may be divided according to the Members' ownership interests in the MD Limited Liability Company.  All distributions to LLC Members must be reported to the IRS. 2. Close all business bank accounts of the Maryland LLC If there are any business accounts that have been opened for the Maryland LLC then those accounts must be closed. If Company Business accounts are left open there may be liability and obligations of the Dissolved Maryland LLC which could lead to legal problems down the line. 3. Cancel all local business licenses and permits of the MD LLC If the Maryland LLC has obtained any state, regional, county or city business licenses or permits, each of those must be cancelled to avoid any reporting or fiscal obligations of the Maryland LLC. This includes business registration licenses as well as reseller permits. 4. File IRS Form 966 Most Dissolved Maryland LLCs must file IRS Form 966 with the US Internal Revenue Service. If a Maryland LLC is required to file IRS Form 966, the filing is required within 30 days after the final Dissolution plan is approved. Filing IRS Form 966 lets the Federal Government know that the Maryland LLC has been legally Dissolved so that it may take the appropriate actions. We can prepare IRS Form 966 for you to file. 5. Cancel the IRS account associated with the MD LLC's Federal Tax ID (EIN) A Federal Tax ID, or Federal Employer Identification Number (EIN), is like the Social Security Number for the Maryland LLC.  Once the IRS links an EIN to a Maryland LLC, that EIN stays with the Maryland LLC even after the Company has been Dissolved by the Maryland Department of Assessments and Taxation. When the IRS processes the final tax return for the Maryland LLC, they automatically make the EIN inactive.  However, the account associated with the EIN is not automatically closed.  Closing the account associated with the EIN lessens the likelihood of any problems with the EIN account, or with the IRS, in the future. If you should decide to revivie the Maryland LLC down the line then the IRS will reactivate the old EIN for your new Business. Before a Maryland LLC can close an EIN account, it must be in Good Standing with the IRS.  The Maryland LLC must have filed all required tax returns and paid any applicable fees and penalties due to the IRS.  The Maryland LLC cannot close its EIN account until the IRS has received payment for any tax amounts the Company may owe. We can prepare the formal documents which you can sign and submit to the IRS in order to close the account associated with your EIN. How long does it take to Dissolve a Maryland LLC? The time it takes to Dissolve a Maryland LLC varies depending on how long it takes to complete the actions that are required in each specific case - holding meetings, closing accounts, distributing assets, etc. Once the initial actions are completed, the Maryland Department of Assessments and Taxation usually takes around 7-8 weeks to process the Articles of Cancellation.    more... less... The time it takes to Dissolve a Maryland LLC varies depending on how long it takes to complete the actions that are required in each specific case - holding meetings, closing accounts, distributing assets, etc. Once the initial actions are completed, the Maryland Department of Assessments and Taxation usually takes around 7-8 weeks to process the Articles of Cancellation. Processing times for Maryland LLC Dissolution filings vary depending on the work load of the Department of Assessments and Taxation's staff.  We've found that normal processing of Maryland Dissolution filings takes the state around 7-8 weeks. PLEASE NOTE: WE CANNOT GUARANTEE MARYLAND DEPARTMENT OF ASSESSMENTS AND TAXATION PROCESSING TIMES. We are dependent on, and have no control over, the staff and systems of the Maryland Department of Assessments and Taxation . In our experience 7-8 weeks is the time it usually takes the Maryland Department of Assessments and Taxation to process a Maryland Dissolution filing. We get your Maryland LLC Dissolution filing to the MD Department of Assessments and Taxation ASAP. Once it is at the state we have no control over the Maryland Dissolution approval process. How much does it cost to Dissolve a LLC in Maryland? The total cost to Dissolve a Maryland LLC varies depending on exactly what is required for each specific MD Dissolution. We charge $224.00 plus any state fees for our Maryland LLC Dissolution services. This includes: Same day processing Transcribe minutes of Members meeting which proposes Dissolution Prepare and file Articles of Cancellation with the Maryland Secretary of State Prepare US IRS Form 966 for you to sign and file Prepare documents to cancel Federal EIN account Certified copy of Dissolution filing from MD Secretary of State Priority Mail Delivery of all documents Unlimited Customer Support We also offer these Maryland LLC Dissolution services separately as explained on the right side of this web page. What do I have to do if I want to Dissolve a Foreign LLC that is tied to a MD Domestic LLC? If there are Foreign LLCs in states other than Maryland that are tied to the Domestic Maryland LLC then each of those Foreign LLCs must be Dissolved before the Maryland LLC is legally Dissolved. How long before someone can use my LLC name in Maryland after I Dissolve? A Maryland LLC company name becomes available for anyone to use when the MD Limited Liability Company is Dissolved by the Maryland Department of Assessments and Taxation. There are no LLC company name protections in Maryland once a Maryland LLC has been Dissolved by the Maryland Department of Assessments and Taxation. Do I have to publish a Notice of Dissolution of the Maryland LLC? There are no state of Maryland requirements for the publication of a Notice of Dissolution of a Maryland LLC. While the Maryland Department of Assessments and Taxation does not legally require the publication of a Notice of Dissolution of a Maryland LLC, publication is a good way to notify anyone who might have a claim against the Maryland LLC.  Evidence of publication might prove useful down the line if someone makes a claim against the MD Limited Liability Company after the Maryland LLC has been dissolved.	MARYLAND LLC DISSOLUTION SERVICES For $224.00 our Maryland LLC Dissolution Services include: Same day processing explain We will start processing your Maryland LLC Dissoltion filing on the same day that you submit your order.  We get your MD LLC Dissolution filing to the Maryland Department of Assessments and Taxation as fast as possible.  Once they get the application, the MD Department of Assessments and Taxation usually takes 7-8 weeks to process a Maryland LLC Dissolution filing. Transcribe minutes of Members meeting which proposes Dissolution Prepare and file Articles of Cancellation with the Maryland Department of Assessments and Taxation Prepare US IRS Form 966 for you to sign and file Prepare documents to cancel the Federal EIN account linked to the Maryland LLC Certified copy of LLC Dissolution filing from MD Department of Assessments and Taxation Priority Mail Delivery of all documents Unlimited Customer Support A LA CARTE MARYLAND DISSOLUTION SERVICES If you don't need our complete Maryland LLC Dissolution package we offer our Dissolution services separately check the box next to any option, price will be calculated automatically Transcribe Member meeting minutes - $75.00   explain After the decision is made to Dissolve a Maryland LLC, a meeting of all Members of the MD LLC must be held to approve the LLC Dissolution. A majority of LLC Members must approve the Maryland LLC Dissolution plan. The approval actions should be documented and kept in the business records. We will transcribe the minutes of the Member meeting into a format that is legally acceptable in the state of Maryland. We will also compile a formal resolution to Dissolve the Maryland LLC for your records. Prepare and file Articles of Cancellation - $75.00   explain As soon as the preliminary Maryland LLC Dissolution actions are completed we will prepare and file the Articles of Cancellation with the Maryland Department of Assessments and Taxation in the quickest way possible Prepare IRS Form 966 - $65.00   explain Most, but not all, Dissolved Maryland LLCs must file IRS Form 966 with the US Internal Revenue Service. If you are not sure about your specific IRS Form 966 filing requirements you should contact an accountant. If a Maryland LLC is required to file IRS Form 966, the filing is required within 30 days after the final Dissolution plan is approved. Filing IRS Form 966 lets the Federal Government know that the Maryland LLC has been legally Dissolved. We will prepare IRS Form 966 for you to file. Prepare EIN cancellation documents - $65.00   explain A Federal Tax ID, or Federal Employer Identification Number (EIN), is like the Social Security Number for the Maryland LLC.  Once an EIN is linked to a Maryland LLC by the IRS, that EIN stays with the Maryland LLC even after the Company has been Dissolved by the Maryland Department of Assessments and Taxation. When the IRS processes the final tax return for the Maryland LLC, they automatically make the EIN inactive.  However, the account associated with the EIN is not automatically closed by the IRS.  Closing the account associated with the EIN lessens the likelihood of any problems with the EIN account - or with the IRS - in the future. We will prepare formal documents to get your Maryland LLC's EIN account closed as quickly as possible. Processing fees $224.00 Maryland Dissolution fees $225.00 Optional services $0.00 Total cost $449.00 OUR ADVANTAGE We start processing your Maryland LLC Dissolution order as soon as it arrives. We get your documents to the Maryland Department of Assessments and Taxation in the quickest possible way.  We guarantee our work.  If you're not satisfied with our Maryland Dissolution services we will refund 100% of your processing fees. We've been helping LLCs legally Dissolve in Maryland for over ten years.  Our A+ BBB rating speaks for itself! 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