If you no longer want to do business with your LLC, you must formally dissolve it. Failure to do so on time may result in tax bills and fines, as well as legal difficulties.
Step 1: Comply with the terms of your Alaska LLC Operating Agreement.
The methods for dissolving an LLC are usually defined in the operating agreement. The following are some frequent disintegration steps:
Holding an election among LLC members to dissolve the LLC
Including the dissolution vote in the meeting minutes of the LLC
Choosing the official date of dissolution
LLC asset distribution
Notifying creditors and resolving any company debt
If your LLC’s operating agreement does not include any dissolution processes, you should contact the state for further information.
Step 2: Close Your Commercial Tax Accounts
Every current Alaska LLC has many tax accounts that are managed by numerous offices of the Alaska State government. Before you may dissolve your LLC, you must first pay off any taxes and/or penalties owing to these accounts.
Here are some of the most typical taxes that your LLC may have to pay:
If you have or have previously had workers in Alaska:
Unemployment Insurance Contribution
If your LLC sells or has previously sold taxable goods or services in Alaska, you must:
Use Tax
Typically, closing your tax accounts is merely submitting a final return with the relevant agency. However, some accounts need producing additional formal papers. If you need help closing your tax accounts, you may consider hiring a Certified Public Accountant.
Step 3: Submit the Articles of Dissolution.
Articles of Dissolution are the documents you must submit in order to voluntarily dissolve your LLC. Once this form has been submitted and processed, your LLC will no longer legally exist.
Business owners in Alaska must file their Articles of Dissolution by mail, fax, or in person.