What is West Virginia LLC Dissolution? |
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A West Virginia LLC is created when the WV Secretary of State approves the Articles of Organization.
A record of the West Virginia LLC is added to the list of LLCs which have officially registered with
the West Virginia Secretary of State.
Once a LLC is registered with the West Virginia Secretary of State, that LLC immediately has both reporting and tax
obligations which incur penalties if the obligations are not met by the required deadlines.
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A West Virginia LLC is created when the WV Secretary of State approves the Articles of Organization.
A record of the West Virginia LLC is added to the list of LLCs which have officially registered with
the West Virginia Secretary of State.
Once a LLC is registered with the West Virginia Secretary of State, 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 West Virginia LLC with the West Virginia Secretary of State and want to cease business activities
you have to let the WV Secretary of State know that you intend to close your company.
Only after the WV Secretary of State has made sure that all of the obligations of the West Virginia LLC have been fulfilled will
the Secretary of State approve of the closure of the company.
When the West Virginia Secretary of State approves the closing of a WV LLC, that West Virginia LLC is said to be
Dissolved.
The process of Dissolving a West Virginia LLC is called West Virginia LLC Dissolution.
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Why do I need to Dissolve a West Virginia LLC? |
As soon as a West Virginia LLC is registered with the WV Secretary of State, that LLC is responsible for
recurring obligations of the West Virginia Secretary of State and the West Virginia Department of Revenue.
If the West Virginia LLC does not file reports or pay taxes then that WV Limited Liability Company could be responsible for
penalties which go up as time goes by.
Unless you Dissolve your West Virginia LLC with the West Virginia Secretary of State that WV Limited Liability Company will be responsible for
all recurring fees and penalties.
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What do I have to do to Dissolve a West Virginia LLC? |
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West Virginia LLC Dissolution is one part of a larger process commonly called the "Winding Up" process.
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West Virginia 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 West Virginia Secretary of State;
and things that you have to do after the WV Secretary of State has approved Dissolution of the West Virginia LLC.
What you have to do both before and after the West Virginia LLC is Dissolved largely depends on if the West Virginia LLC has commenced business
and how many assets, debts and liabilities, if any, that the WV Limited Liabilty Company has.
If the West Virginia LLC has not commenced business then the WV Limited Liability Company Dissolution process is easier.
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What do I have to do before I Dissolve a West Virginia LLC? |
Things you need to do before you Dissolve a West Virginia LLC.
1. Hold a Members meeting and record a resolution to Dissolve the West Virginia LLC
2. File all required Annual Reports with the West Virginia Secretary of State
3. Clear up any business debt
4. Pay all taxes and administrative fees owed by the West Virginia LLC
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1. Hold a Members meeting and record a resolution to Dissolve the West Virginia LLC
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If the West Virginia LLC has any Members then a meeting should be held and a vote to Dissolve the West Virginia Limited Liability Company taken.
Minutes of the meeting should be recorded and retained in the business records.
If the West Virginia LLC does not have any Members then the Organizer(s) have to apply for Dissolution of the West Virginia LLC.
- We can transcribe and compile minutes or approvals into a form that is legally recognized by the West Virginia Secretary of State.
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2. File all required Annual Reports with the West Virginia Secretary of State
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The West Virginia Secretary of State will not approve the Dissolution of a WV LLC until all required
reports have been filed.
- We can file any required Annual Report with the WV Secretary of State.
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3. Clear up any business debts
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All creditors of a West Virginia 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.
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4. Pay all taxes and administrative fees owed by the West Virginia LLC
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The West Virginia Secretary of State will definitely not approve the Dissolution of a West Virginia LLC until all
outstanding taxes and applicable registration and administrative fees have been paid.
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What do I have to do after I Dissolve a West Virginia LLC? |
Things you have to do after you Incorporate in West Virginia.
1. Distribute all remaining assets of the West Virginia LLC
2. Close all business bank accounts of the West Virginia LLC
3. Cancel all local business licenses and permits
4. File Form 966 with the IRS
5. Cancel the IRS account associated with the WV LLC's Federal Tax ID (EIN)
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1. Distribute all remaining assets of the West Virginia LLC
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If the West Virginia LLC has any remaining assets, these may be divided according to the Members' ownership interests
in the WV Limited Liability Company.
All distributions to LLC Members must be reported to the IRS.
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2. Close all business bank accounts of the West Virginia LLC
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If there are any business accounts that have been opened for the West Virginia LLC then those accounts must be closed.
If Company Business accounts are left open there may be liability and obligations of the Dissolved West Virginia LLC which could
lead to legal problems down the line.
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3. Cancel all local business licenses and permits of the WV LLC
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If the West Virginia 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 West Virginia LLC.
This includes business registration licenses as well as reseller permits.
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4. File IRS Form 966
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Most Dissolved West Virginia LLCs must file IRS Form 966 with the US Internal Revenue Service.
If a West Virginia 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 West Virginia LLC has been legally Dissolved
so that it may take the appropriate actions.
- We can prepare IRS Form 966 for you to file.
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5. Cancel the IRS account associated with the WV LLC's Federal Tax ID (EIN)
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A Federal Tax ID, or Federal Employer Identification Number (EIN), is like the Social Security Number for the West Virginia LLC.
Once the IRS links an EIN to a West Virginia LLC, that EIN stays with the West Virginia LLC even after the Company has been Dissolved by the
West Virginia Secretary of State.
When the IRS processes the final tax return for the West Virginia 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 West Virginia LLC down the line then the IRS will reactivate the old EIN for your new Business.
Before a West Virginia LLC can close an EIN account, it must be in Good Standing with the IRS.
The West Virginia LLC must have filed all required tax returns and paid any applicable fees and penalties due to the IRS.
The West Virginia 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.
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How long does it take to Dissolve a West Virginia LLC? |
The time it takes to Dissolve a West Virginia 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 West Virginia Secretary of State usually takes around 2-4 business days to process the Articles of Termination.
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The time it takes to Dissolve a West Virginia 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 West Virginia Secretary of State usually takes around 2-4 business days to process the Articles of Termination.
Processing times for West Virginia LLC Dissolution filings vary depending on the work load of the
Secretary of State's staff.
We've found that normal processing of West Virginia Dissolution filings takes the state around 2-4 business days.
PLEASE NOTE: WE CANNOT GUARANTEE WEST VIRGINIA SECRETARY OF STATE PROCESSING TIMES.
We are dependent on, and have no control over, the staff and systems of the West Virginia Secretary of State .
In our experience 2-4 business days is the time it usually takes the West Virginia
Secretary of State to process a West Virginia Dissolution filing.
We get your West Virginia LLC Dissolution filing to the WV Secretary of State ASAP.
Once it is at the state we have no control over the West Virginia Dissolution approval process.
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How much does it cost to Dissolve a LLC in West Virginia? |
The total cost to Dissolve a West Virginia LLC varies depending on exactly what is required for each specific
WV Dissolution.
We charge $224.00 plus any state fees for our West Virginia LLC Dissolution services. This includes:
- Same day processing
- Transcribe minutes of Members meeting which proposes Dissolution
- Prepare and file Articles of Termination with the West Virginia 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 WV Secretary of State
- Priority Mail Delivery of all documents
- Unlimited Customer Support
We also offer these West Virginia LLC Dissolution services separately as explained on the right side of this web page.
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What do I have to do if I want to Dissolve a Foreign LLC that is tied to a WV Domestic LLC? |
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If there are Foreign LLCs in states other than West Virginia that are tied to the Domestic West Virginia LLC then
each of those Foreign LLCs must be Dissolved before the West Virginia LLC is legally Dissolved.
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How long before someone can use my LLC name in West Virginia after I Dissolve? |
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A West Virginia LLC company name becomes available for anyone to use when the West Virginia Limited Liability Company is Dissolved by the West Virginia Secretary of State.
There are no LLC company name protections in West Virginia once a West Virginia LLC has been Dissolved by the WV Secretary of State.
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Do I have to publish a Notice of Dissolution of the West Virginia LLC? |
There are no state of West Virginia requirements for the publication of a Notice of Dissolution of a West Virginia LLC.
While the West Virginia Secretary of State does not legally require the publication of a Notice of Dissolution of a West Virginia LLC, publication is
a good way to notify anyone who might have a claim against the West Virginia LLC.
Evidence of publication might prove useful down the line if someone makes a claim against the WV Limited Liability Company after
the West Virginia LLC has been dissolved.
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