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At some point, a business venture may find it necessary to cancel its LLC. There are many reasons business owners could decide to cancel their LLCs, such as:
Typically, the first thing business owners will want to do is talk to a tax professional and/or attorney to determine if cancelling the LLC is the best option for the company. If the circumstances call for the LLC to be cancelled, it is best to then consult your LLC Operating Agreement, which usually outlines your cancellation process.
However, if you are canceling a Delaware LLC, Delaware law offers another option:
Before you can cancel your LLC, you should typically terminate all your LLC’s business affairs, such as:
Franchise Tax Fees:
Business Bank Account:
The most important step in the Delaware LLC cancellation process is to file a Certificate of Cancellation.
Please keep in mind that once a Delaware LLC is canceled, the company name becomes available for anyone else in the state to utilize.
Harvard Business Services, Inc. can help you cancel your Delaware LLC in a professional and prompt manner. After you contact us in regard to cancelling your Delaware LLC and you submit your payment, we will expertly assemble the required paperwork and forward it to you via email or fax for your signature. After you sign and return it to us by fax, mail or email, we will file the Certificate of Cancellation with the Delaware Secretary of State within 24 hours.
The Delaware Division of Corporations generally takes three to five (3-5) business days to return the receipt of filing to us; once we receive it, we immediately forward it to you via email for your records.
It is very important to complete the cancellation process of your Delaware LLC; if you do not legally and officially cancel your LLC, your company will continue to be held responsible for the annual Delaware Franchise Tax Fee as well as your LLC's annual Registered Agent Fee until either the Registered Agent resigns or until the state of Delaware voids the company.
What Else Should You Do?
Ready to cancel your Delaware LLC? Contact us via phone at 1-800-345-2677, email, Skype (Delawareinc) or Live Chat with one of our experienced specialists.
Since 1981, Harvard Business Services, Inc. has helped form 157,104 Delaware corporations and LLCs for people all over the world.
Harvard can provide assistance throughout the life of your company. These custom services are the most popular with our clients: