If you’re a business owner in Wyoming and you’ve chosen to close or dissolve Wyoming LLC, you must follow the law to avoid future legal or financial problems.
Wyoming makes it easy to get rid of a limited liability company. Here are the steps you must take:
Step 1: Gather the members for a meeting
The first step is for all the members of the LLC to get together and vote on a motion to end the company. To pass the motion, you will need more than half of the votes.
Step 2: File the Articles of Dissolution
You need to file articles of dissolution with the Wyoming Secretary of State after passing the motion. The pieces can be filed online or by mail. These things should be written in the articles of dissolution:
- The name of the LLC
- The date of dissolution;
- The reason for dissolution;
- The signature of the person who is allowed to do so;
Step 3: Tell your creditors and pay off your debts.
Once you’ve filed the articles of dissolution, you need to let all of the LLC’s creditors know and pay off any bills or obligations that are still open. You can do this by sending a letter to all of your creditors and giving them a certain amount of time to send in their claims.
Step 4: File Final Tax Returns
The next step is to send the IRS and the Wyoming Department of Revenue the LLC’s final tax reports. You will need to talk to your lawyer or a tax expert to make sure that all of your tax obligations are taken care of.
Step 5: Cancel your licenses and permits
Lastly, you need to cancel all licenses and permits that the state or local government gave to the LLC. This includes licenses, permits, and registrations for businesses.
By doing these things, you can properly dissolve your Wyoming LLC and avoid any future legal or financial liabilities. If you need help with the process, you can talk to a business attorney or call a professional LLC service provider like Company EasyFiling.
Nabin Adhikari
