how to close your llc in nj [Last Infos]

Last updated : Sept 24, 2022

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hi this is Fred Neiman you know in business many of the analogies to life can be found with life comes birth and eventually comes death the same holds true for businesses a business is born by the filing of certificates and it dies by the act of filing for dissolution and that's what this page is about the dissolution of a limited liability company in the state of New Jersey read it over get the information you need when you're done if you need assistance in to solving your New Jersey limited liability company or want to begin the process of having another members LLC dissolved give me a call we'll address the situation in the fax I'll give you some direction and then you can make an informed decision

Thanks for your comment Genaro Rutigliano, have a nice day.
- Renate Hamai, Staff Member

[Applause] hey guys this is robert with malawi law we help entrepreneurs just like you start their businesses without dealing with the complicated legal forms and we are also the number one highest rated business law firm for entrepreneurs with more than fifteen hundred five star google reviews today we are going to talk about whether you should dissolve your llc if you are no longer using it and whether you can put your llc on hold to avoid paying fees so many of our clients formed llc's in the past and they no longer use them and they wonder if they should dissolve it or not they also realize that they have been getting notices from the state informing them that they owe money despite the llc making no money or even operating at all and for our clients they're wondering if they have to pay these fees or the money to the state so in this video i'm going to address both of these questions so let's get started also keep in mind that unlike sole proprietorships where p where there is not a whole lot you have to do to wind up the business or close the business with llc that's a little bit more complicated and you'll likely have to file some documents with your secretary of state so first let me inform you that dissolving your business is another name for closing or shutting down your business so to begin or so to begin let me explain that one of the common reasons people choose to dissolve their llc's when they are no longer conducting business is to avoid paying the annual state renewal fees to keep the llc active if your llc is no longer conducting business then you can't just simply do nothing and you can't just not pay the state the annual fees if you do do this then the state may continue to charge you the annual fees and may even charge you interest on certain fees that they have not been paid eventually the state will also suspend your llc and you will continue to rack up these fees and once this happens then the state will not let you officially dissolve the llc until all taxes and fees have been paid so in reality you will just continue to incur the annual state fees until you pay the state what it is owed and properly dissolve the llc for example some states such as delaware will charge you a 200 late fee and will also charge you interest if you don't pay the franchise tax fee so in order to avoid these late fees and penalties and potentially the interest fees then it is important to officially dissolve your llc the right way and in accordance with your state's requirements so ultimately there is no need to be alarmed if your llc has been inactive but be sure to not wait too long to dissolve it otherwise you risk having to pay hefty fees to your state of incorporation so now you're probably wondering how to properly dissolve your llc and generally dissolving your business just involves filing a form to the business division of your state's secretary of state's office the state may also require that you pay the state fee and send payments along with the dissolution documents for some states there is no charge and for others the fee can be hundreds of dollars it is important to check with the business division at your secretary of state's office to find out the exact procedure so overall don't get too overwhelmed if you're in this situation but keep in mind that you shouldn't wait too long if you are no longer using your llc then it is important to dissolve it so that you can avoid getting hit with many of the fees and potential interest payments also some states won't let you officially dissolve the llc until you pay everything that is owed to them so it is important to not just let your llc incur fees each year because eventually the state will try to collect the money from you so if you're an entrepreneur looking to dissolve your business or start a business in the united states then click on the link below to schedule a free consultation with us during the phone call we will be able to determine your specific requirements to dissolve the llc in your state and we will explain the advantages of doing so and we can also determine if you should keep your llc opened and just use it for a different business purpose so go ahead and click the link below and also if you have any questions just post them below and my team and i will try to get to them as soon as possible i'll see you guys in the next video

Thanks Gia your participation is very much appreciated
- Renate Hamai

About the author

Renate Hamai

I've studied database management at Louisiana State University in Baton Rouge and I am an expert in native american religions. I usually feel loved. My previous job was adult literacy and remedial education teachers I held this position for 7 years, I love talking about cycling and ocarina playing. Huge fan of Henry Cavill I practice still rings and collect premiums.