Victory Building If it does not, you … Articles of Dissolution are the forms that you file to voluntarily dissolve your LLC. Also, you have to file a final report when you dissolve, so if your franchise taxes are not current, BCS will not allow you to dissolve your LLC. Before you can dissolve your LLC, you must first pay off all taxes and/or fines owed to these accounts. How Do I Prove Licensure When Forming a NY Professional Entity? Little Rock, AR 72201-1094, Physical address: You can also access forms on BCS website or by contacting BCS. Become a member for special access to members-only videos, live streams, live chats, behind the scenes, and MORE! Is Northwest a National Registered Agent? You do not need to do so in states where you're planning to keep the LLC open. Formally Dissolve The LLC Or Corporation. Incfile prepares the Articles of Dissolution for you, and files them to the state for $149 + State Fees. The members of an LLC must vote to dissolve the company. Submit the original dissolution form, a Final Franchise Tax Report, and a check for fees to BCS by mail or in person. How Do I Cancel Registered Agent Service? How Does NW Help Me Establish Business Privacy? Arkansas Secretary of State State Capitol 500 Woodlane Street, Suite 256 Little Rock, AR 72201 501-682-1010. Once this document has been filed and processed, your LLC will no longer legally exist. Here are some of the common taxes your LLC may owe: Closing your tax accounts usually involves simply filing a final return to the appropriate agency. Arkansas Secretary of State Handle final returns for income tax and sales tax. Step 1: Follow Your Arkansas LLC Operating Agreement. If you do not file your franchise tax report and fees, there is a $25 penalty fee. To dissolve your Arkansas corporation, submit a completed dissolution form to the Arkansas Secretary of State, Business and Commercial Services (BCS) by mail or in person. Arkansas Corporations. Do I Need my Registered Agent's Signature? To dissolve an Arkansas LLC or Arkansas corporation, you'll need to submit articles of dissolution to the Arkansas Secretary of State. Arkansas requires business owners to submit their Articles of Dissolution by mail. What Exactly Does “Doing Business” in Another State Mean? You will need to make arrangements to pay all … For most LLCs, the steps for dissolution will be outlined in the operating agreement. Statement of Dissolution (Limited Liability Company) filed pursuant to §7-80-802 and part 3 of Article 90 of Title 7 of the Colorado Revised Statutes (C.R.S.). In Arkansas, you must file a Final Report at the same time as your Articles of Dissolution and pay the $150 minimum tax. Company Dissolution in Arkansas The Process. When you sign up for registered agent service with Northwest, the articles of dissolution form is in your online account. Name of Official Document: Form # Online Fee: Paper Fee: Online Form: PDF Form: … Things you need to do before you Dissolve an Arkansas LLC. DE Nonprofit Certificate of Incorporation, Watch Out for "Corporate Records Service". If you have been revoked by BCS, you just have to file your delinquent annual report/franchise tax and pay all your late fees in order to reinstate. Choose to view the in All Arkansas LLCs are required to submit an annual franchise tax report to Arkansas BCS by May 1 each year. 250 However, some accounts require submitting other official paperwork. Arkansas BCS processes dissolutions within two business days. Some common dissolution steps include: Holding a vote with LLC members to dissolve … All Rights Reserved. It's always better if you take control of the … As an essential business, we’re open, fully operational, and all services are active and available! California: Form:Amendment to Articles … 2010 Arkansas Code Title 4 - Business and Commercial Law Subtitle 3 - Corporations And Associations Chapter 32 - Small Business Entity Tax Pass Through Act Subchapter 9 - … There is a $50 filing fee to dissolve your Arkansas LLC. Google Map | Contact Us The $150 tax and the annual report together are known as the Annual LLC Franchise Tax Report. You get the advantages and protections of larger Arkansas corporations but with much simpler rules and regulations. Some common dissolution steps include: If your LLC does not have any set dissolution procedures in its operating agreement, you should consult the state for further instruction. Our free account and tools will help you get started and maintain your business. 1. 1998 – 2021 Copyright © Northwest Registered Agent, LLC. You cannot … What is the Cost to Form a Nevada Business? The form requires the following … No, you do not need to include tax clearance with your dissolution documents. You cannot file articles of dissolution online. Briefly, the benefits of starting an Arkansas … Little Rock, AR 72201. How to Register a Business Name in Arkansas, "Providing actionable and accessible guides and tools to help you succeed", Holding a vote with LLC members to dissolve the LLC, Recording the dissolution vote in the LLC’s meeting minutes, Determining the formal date of dissolution, Notifying creditors and settling any business debts. How Do I Change a Sole Proprietorship to an LLC? If you need assistance in closing your tax accounts, it may be helpful to hire a Certified Public Accountant. To dissolve a company in Arkansas first step is to have a meeting of its members (for LLC) or directors/shareholders (for corporation) and … All taxes, penalties, fees, and interest must be paid in full before you can dissolve your LLC. Home / Start an LLC / Arkansas LLC / Dissolve an Arkansas LLC. Business and Commercial Services, Mailing address: If your LLC operating agreement has a procedure for voting on dissolution, you should follow it. Do I Need to Register My Business or Hire an RA first? Every active Arkansas LLC has various tax accounts that are maintained by different departments within the Arkansas State government. How to Move Your Business to Another State, How to Move Your Business and Change Your Entity Type, Get a Canadian Certificate of Good Standing. Arkansas Secretary of State Executive Office State Capitol, Suite 256 500 Woodlane … Apostille, Certified Copy & Certificate of Good Standing, Canadian Business US Registration by Province, Franchise Taxes & More (CA, DE, NM, TX, WY). Once you have filed your papers to form the LLC, there are a … Want more All Up In Yo' Business? Hold a Shareholder meeting to approve Dissolution of the Arkansas Corporation 3. To dissolve an LLC in Arkansas, simply follow these three steps: For most LLCs, the steps for dissolution will be outlined in the operating agreement. If you no longer wish to conduct business with your LLC, it is important to officially dissolve it. You must file a final return for the year you close your … How to Start a Virtual Personal Trainer Business, How to Start a Virtual Assistant Business, How to Start a Social Media Consulting Business, How to Start a Freelance Writing Business, How to Start an Online Course Development Business, How to Start a General Contracting Business, How to Start a Non-Medical Home Care Business, How to Start a Drone Photography Business. 1401 West Capital Ave., Ste. Filing Method:Online or paper form via mail. Does NW Offer Total Corporation Services to Companies? Dissolve your LLC in all states where it had a place of business. How Do I Change My Corporation's Par Value? How Do I Find a Company's Registered Agent? Hold a Members meeting and record a resolution to Dissolve the Arkansas LLC 2. The dissolution of a corporation package contains all forms to dissolve a corporation in Arkansas, step by step instructions, addresses, transmittal letters, and other … With a corporation, all business associates need to vote on closing the business. Arkansas: Form:Articles of Dissolution for Limited Liability Company. We’ll walk you through how to file and pay this tax here: Arkansas … You are responsible for taking the necessary actions to notify creditors prior to dissolving a Arkansas LLC and winding up the company. Can My Business Mail Be Sent to My Registered Office Address? To dissolve your Arkansas LLC, you submit the completed form Articles of Dissolution for Limited Liability Company to the Arkansas Secretary of State, Business and Commercial Services (BCS) by mail or in person. Why Choose NW to Form My LLC or Corporation? How to Dissolve an Arkansas Corporation by the Board of Directors Most corporations must be dissolved by the board of directors, and we discussed the necessity of … If your Arkansas LLC just does not file its annual report and/or franchise tax, you will be charged penalty fees and eventually you may be revoked by BCS. You’ll need to formally dissolve the legal entity with your state. Include the filing fee as well as the franchise tax for the current year. Can I Sign Up If I Don't Know My Company Name Yet? Create an operating agreement. If you voluntarily dissolve your LLC or corporation, you lose your name once BCS has formally dissolved your company. If you … How Much Does Registered Agent Service Cost? How Are Partnerships Different From LLCs? Your Arkansas registered agent may be able to help with the dissolution process. If you walk in your documents they will file them while you wait. File the Arkansas LLC Articles of Dissolution, Mail to:Arkansas Secretary of State1401 W. Capitol, Suite 250Little Rock, AR 72201. All for free. The articles of dissolution must include: The Name of the … Failure to Properly Dissolve Your LLC. Cancel your … Enter your information below to create your free account. Once the board directors are elected by shareholders through exercising their corporate voting rights or shareholder rights, the directors of the board … … When Should I Turn a Sole Proprietorship Into an LLC? All LLCs operating in Arkansas must file an annual report and pay a flat-rate tax of $150 each year. Hold a Directors meeting and record a resolution to Dissolve the Arkansas Corporation 2. The secretary of state will charge 10% interest per year on the tax and penalty from the due date until it is paid. You can also have a professional service provider file your Articles of Dissolution for you. For instance, Arkansas could involuntarily dissolve your LLC if you fail to pay your LLC’s franchise taxes or any financial penalties within 60 days of the due date, fail to submit your annual … What Are the Pros & Cons of Incorporating in Wyoming? Checks should be payable to Arkansas Secretary of State. If you have reached the point where it's time to close shop and shut down operations, you'll need to learn the rules about going out of business. The total tax, penalty, and interest for any one year will not be more than twice the tax owed by the corporation. To dissolve your Arkansas LLC, you submit the completed form Articles of Dissolution for Limited Liability Company to the Arkansas Secretary of State, Business and Commercial Services (BCS) by mail or in person. The minimum final franchise tax for LLCs is $150. State Capitol Make checks payable to Arkansas Secretary of State. Top [1] | 2-4-109 and 7-90-304 , … In order to dissolve a foreign LLC in Arkansas, you will need to file the Application for Cancellation by Foreign Limited Liability Company. another tab or to download the PDF. Resolve financial obligations. Fee:$45 Online fee; $50 Paper fee. Will the FDIC Insure Money Held by an LLC or Corporation? What Are the Pros & Cons of Incorporating in Delaware? A limited liability company (LLC) is a type of business entity that’s ideal for startups and small- to medium-sized businesses. If your corporation hasn’t issued shares, you need the approval of your Board of Directors to dissolve … NOTE: None of your LLC's tax accounts can be closed if they have a remaining balance. Failure to do so in a timely fashion can result in tax liabilities and penalties, or even legal trouble. File a Final Return and Related Forms. Arkansas LLCs that have been administratively dissolved (revoked) are protected for seven years following the date of dissolution. 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