Chapter 15
Dissolutions: Every Beginning Has an End
IN THIS CHAPTER
Understanding what a dissolution means
Examining reasons your LLC may dissolve
Deciding whether a dissolution is right for you
Knowing how the dissolution process works
“Nothing gold can stay.” — Robert Frost
All things eventually come to an end to make room for new beginnings, and your LLC is no different. Sometimes, business simply doesn’t go as planned, and you’re left with no option but to close up shop. Other times, legal or tax technicalities get in the way and force the demise of your business.
Whatever the reason, you must ensure you do things by the book. If you don’t cover all your bases before and after the dissolution, you may be asking for a fiasco later on. So, before dissolving your LLC, I urge you to thoroughly review this chapter, get together with your fellow members, and create a detailed plan for dissolution.
After creating the dissolution plan, make sure your accountant reviews it thoroughly ...
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