When you need to dissolve a company in Louisiana there are several factors you must consider, which are as follows:
- What type of business entity is being dissolved?
- Are there any remaining assets in the business, and will there need to be a liquidation?
- Are there any outstanding debts?
- Are the business owners all in agreement about dissolving the company?
We have provided specific details on how you can dissolve a business in Louisiana the correct way by providing you with the appropriate forms, information about the dissolution process, and what to do if you change your mind and need to undo a dissolution of your company.
This is How You Dissolve an LLC in Louisiana
The dissolution process in Louisiana is pretty much the same as it is in most other states. You will need to fill in an online or paper form called “articles of dissolution”, which you file to the Louisiana Secretary of State, with the fee attached.
Once you have completed this step, you will be eligible to then submit a statement of termination, which must include the name of your business, and a declaration that your business is terminated.
How much does it cost to dissolve an LLC in Louisiana?
The fee to dissolve an LLC in Louisiana is $100, with an optional additional fee of $30 for expedited processing (within 24 hours), and an express expedited fee of $50 (2-4 hours). Here is the form you will need to fill out, and at the bottom of the page is the mailing address for the Secretary of State in Louisiana.
Dissolving an LLC in Louisiana is required by law, and the process to dissolve a business in Louisiana is certainly no walk in the park. You will need to complete multiple steps before entering a proper Louisiana LLC dissolution. To eliminate potential liability, lawsuits, and additional fees, you should consider using the services of a Business Filing Services Company that can affordably dissolve your Louisiana LLC for you.
How to Dissolve a Corporation in Louisiana
A corporate dissolution (for a C-Corporation or S-Corporation) in Louisiana can be done whether a company has issued shares or has not yet issued shares. Here are the two scenarios:
- If a company has issued shares, the Articles of Dissolution must be approved via a shareholder meeting.
- If the company has not yet issued shares, the dissolution must be approved by a majority of the business owners or the Board of Directors of the company.
In order to successfully dissolve your Louisiana corporation, you must follow the same process as dissolving an LLC in Louisiana. Filing for articles of dissolution with the Secretary of State requires a form to be filled out.
Once the document has been filed with the correct fee of $75, you can now look into the termination of your company, by following the same process as you have done for the dissolution.
To dissolve a Corporation in Louisiana, there are multiple requirements and non-compliance that can lead to serious legal consequences. To dissolve your Louisiana Corporation the right way, you should consider using the services of a Business Filing Services Company that can do this for you at an affordable, flat fee.
How do I Dissolve a Sole Proprietorship or Partnership in Louisiana?
The process for discontinuing businesses in Louisiana really does depend on how the business has been legally organized and the structure of the company itself. So, for a Sole Proprietorship in Louisiana, you are not required to file a form or pay any filing fees.
Sole Proprietorship Dissolution
The process is straightforward, you must pay off any outstanding debts that your business may have incurred, there is no dissolution paperwork to fill out, once the debts have been paid, you simply need to terminate accounts and move on.
For a Partnership in Louisiana, you must follow the same process for LLCs and Corporations, there is another form that is required to be filled out sent to the Secretary of State.
Filing Requirements – Actions for Dissolving LLCs and Corporations
To officially end the existence of a Louisiana business, it is important that financial debts get settled, bank accounts are closed, outstanding tax obligations (such as sales taxes, business taxes, and state taxes) are paid, and all payroll obligations are fulfilled.
Companies going through a voluntary dissolution must be in good standing with the Secretary of the State for the state of Louisiana and need to adhere to all state laws surrounding the dissolution process, which, in Louisiana’s case, are pretty straightforward.
Once a Louisiana company has been dissolved, and its Articles of Incorporation or Articles of Organization are no longer valid, you should make the Internal Revenue Service aware that the Louisiana business has been dissolved.
This notification to the IRS should be in the form of a letter that includes the Business Name, its Federal Tax ID Number (EIN or FEIN), the business address, and the reason for the dissolution.
The Louisiana company will need to file a final tax return after you have filed for dissolution (both a federal tax return and state tax return) with the IRS and the Louisiana Finance Department.
Why Do I Need to Dissolve My Louisiana Company?
If you are going to be dissolving your business, you may wonder why go forward with paying the filing fees and submitting paperwork to dissolve the company? Doesn’t the business just stop once you decide to stop? No, it doesn’t – failing to dissolve a company properly can lead to penalties, potential lawsuits, and other fees until the company is formally dissolved with the Louisiana Secretary of State.
It is more cost-effective to pay to dissolve your Louisiana company the correct and legal way than it is to face penalties, unknown taxes, and late fees.
The simplest, and most efficient way to dissolve a business in Louisiana is to utilize the services of a professional Business Filing Services Company that will do it all for you. This will eliminate unnecessary administrative costs and potential liability and will ensure it is done correctly and according to Louisiana law.
Here is the address to send your dissolution documents:
Secretary of State (Mailing Address)
P. O. Box 94125
Baton Rouge, LA
Secretary of State (Physical Office Address)
8585 Archives Ave.,
Baton Rouge, LA