Step 1: Follow Your Colorado LLC Operating Agreement

1. Holding a vote with LLC members to dissolve the LLC.
2. Recording the dissolution vote in the LLC’s meeting minutes.
3. Determining the formal date of dissolution.
4. Distribution of LLC assets.
5. Notifying creditors and settling any business debts.

How do I close an S Corp in Colorado?

What are 5 steps that are necessary in order to dissolve your Colorado business?

1. Obtain agreement to dissolve according to corporation formalities & contracts.
2. File a Certification of Dissolution (Articles of Dissolution)
3. File federal, state, and local tax returns.
4. Notify creditors, customers, and employees.

How do I close a sole proprietorship in Colorado?

Cancel your business license and seller’s permit, if you have one. Contact the agency that issued it and notify them in writing that you are closing the business, submit your documentation and claim any security deposit paid at the time of issue.

What do you need to dissolve a LLC in Colorado?

You will also need to provide your LLC’s state ID number. You can get some idea of what a statement of dissolution contains by downloading the sample form from the SOS website. However, Colorado requires that all statements of dissolution be filed online using the state’s online filing system.

How to file a statement of dissolution in Colorado?

You can get some idea of what a statement of dissolution contains by downloading the sample form from the SOS website. However, Colorado requires that all statements of dissolution be filed online using the state’s online filing system. There is a $25 fee to file the statement.

Can a LLC be dissolved by a court decree?

While an LLC may be involuntarily dissolved through a court decree, this articles covers voluntary dissolution by the LLC members. In order to voluntarily dissolve your LLC, you first should look to your operating agreement. In most cases, it will contain a section with rules for how to dissolve the company.

Do you have to pay taxes on a Colorado LLC?

NOTE: None of your LLC’s tax accounts can be closed if they have a remaining balance. All taxes, penalties, fees, and interest must be paid in full before you can dissolve your LLC. Articles of Dissolution, known in Colorado as Statement of Dissolution, are the forms that you file to voluntarily dissolve your LLC.