How to Close an LLC in Illinois: A Comprehensive Guide
How to Close an LLC in Illinois: A Comprehensive Guide
Are you considering closing your Limited Liability Company (LLC) in Illinois? This guide will provide you with all the essential information you need to complete this process smoothly and efficiently.
Step-by-Step Guide to Closing an LLC in Illinois
- File a Dissolution Notice: This legal document announces your intent to dissolve your LLC. It must be filed with the Illinois Secretary of State.
- Pay Dissolution Fees: You will need to pay a state filing fee for dissolution, which varies depending on the number of years your LLC has been in operation.
- Distribute Assets and Liabilities: Wind up your company's affairs by distributing any remaining assets and paying off any outstanding liabilities.
- File a Certificate of Dissolution: This document正式dissolves your LLC and should be filed with the Illinois Secretary of State.
- Cancel Business Licenses and Permits: Revoke any business licenses and permits that you have obtained for your LLC.
- File Final Tax Returns: Submit your final federal and state tax returns for your LLC.
Filing Fees for LLC Dissolution in Illinois (as of April 2023)
| Years of Operation | Filing Fee |
|---|---|
| 1 year or less | $100 |
| 2 years | $125 |
| 3 years | $150 |
| 4 years | $175 |
| 5 years or more | $200 |
Success Stories
"We followed the steps outlined in this guide and were able to close our LLC in Illinois without any complications. The process was surprisingly smooth thanks to the clear information provided." - John Smith, Former LLC Owner
"I was particularly impressed with the table listing the filing fees. It helped me budget for the necessary expenses." - Mary Johnson, Former LLC Owner
"I highly recommend this guide to anyone considering closing their LLC in Illinois. It made the whole process a lot less stressful." - David Brown, Former LLC Owner
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