When you’ve made the difficult decision to shut down your business, it isn’t as easy as simply closing the doors for good and putting an “out of business” sign out front.
Under Texas law, you must go through the dissolution process in order to dissolve your Texas limited liability corporation (LLC). It may sound complicated, but a good business lawyer can make it easier. Below we go into further detail about the steps you will need to take to successfully dissolve your LLC in Texas.
In order to get your LLC dissolved in Texas, you will need to file a certificate of termination with the Secretary of State. The form itself is pretty standard and will include some basic information, such as:
From there, you will need to decide what your winding up status is. Your options will include:
You will also need to select when the dissolution date is effective by and attach an official tax certificate from the Texas comptroller. This will certify that your LLC is paid up to date on it’s taxes.
The fees for dissolving an LLC in Texas are minimal. You need only pay a $40 filing fee to the state in order to get your certificate of termination filed. You may also need to cover your attorney fees, remaining taxes or debts your LLC owed, and other loose ends to officially shut down your business.
Once your certificate of termination is filed, processing only takes three to five business days. But the entire process will depend on how long it takes your business to work through the winding up process. There are specific tasks you need to meet, including:
Because every business is different, the amount of time it will take to dissolve your LLC could vary considerably. To get a better idea of how long you could expect your dissolution process to take, contact The Curry Law Firm.
Dissolving your LLC in Texas can be a long, drawn-out process if you don’t have the proper legal representation. Don’t get stuck dealing with additional costs when you are trying to move forward with your life.
Get an experienced business attorney to examine your legal documents and prepare your business for the dissolution process. Call The Curry Law Firm to schedule a free, no-risk consultation. We can be reached by phone at 713-678-0013 or through the convenient contact form we have included at the bottom of this page.