If you have a limited liability company (LLC) in Nevada, you may need to shut down the business. On the other hand, maybe you’ve started anotherco ...
In West Virginia, this must be done before you formally dissolve your LLC with the state.
Written by: Carolyn Young
Carolyn Young has over 25 years of experience in business in various roles, including bank management, marketing management, and business education.
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For over 15 years, Sarah Ruddle has been a noteworthy leader in the business and nonprofit world.
Updated on July 16, 2024
If you have a limited liability company (LLC) in West Virginia, you may need to shut down the business at some point. On the other hand, maybe you’ve started another company or decided to relocate to another state — whatever the reason, you’ll need to follow the somewhat complicated LLC dissolution process.
If done incorrectly, you’ll still be responsible for annual reports and fees and could face additional penalties. But, lucky for you, this handy guide explains how to dissolve an LLC in West Virginia.
Properly shutting down an LLC involves several crucial steps, as detailed below.
LLC owners must vote to dissolve the LLC. Hopefully, you have an operating agreement that details the process. If not, West Virginia law requires the consent of all members or a judicial decree at the application of one of the members. Once this occurs, you’ll need to draft a resolution to dissolve the LLC.
If you were required to get licenses and permits for your business, you’d need to contact the issuing agencies to cancel them so that you’re not charged renewal fees. If you have any outstanding fees, you’ll likely need to pay them before you are allowed to cancel.
If you owe money to any creditors, you’ll need to notify them in writing of the dissolution and give them detailed instructions on filing any claims for the outstanding debt. In West Virginia, claims must be filed by the deadline specified in the notice, which must be at least 120 days from receipt of the notice.
In West Virginia, this must be done before you formally dissolve your LLC with the state.
Notify any relevant tax authorities of the dissolution and pay any outstanding taxes due.
If you have contracts with vendors, lessors, or any other outstanding financial obligations, you’ll need to ensure all your obligations are fulfilled and all contracts are canceled.
If the LLC has any assets remaining in any form after all financial obligations have been settled, they must be distributed to members based on LLC ownership percentages. If the assets are equipment, property, or other non-cash assets, they’ll need to be sold first so distributions can be made in cash.
In West Virginia, the process to officially dissolve your LLC is to sign into your account on the Secretary of State’s website and fill out the articles of dissolution form.
If you prefer to file by mail, you can request the form from the WV one-stop business center at (304) 558-8000. The mailing address is:
WV One Stop Business Center
13 Kanawha Blvd. W.
Suite 201
Charleston, WV 25302
The fee for filing the dissolution papers in West Virginia is $25.
Regardless of the reason, LLC dissolution must be done right to avoid legal issues and financial penalties. Therefore, it’s highly recommended that you employ the services of an attorney to ensure everything is done correctly and all bases are covered.
The fee for filing articles of dissolution in West Virginia is $25.
West Virginia articles of dissolution are generally processed within 24 to 48 hours.
If you have no plans to operate the LLC in the future, you should dissolve the LLC in West Virginia. However, you’ll still be responsible for annual reporting and fee requirements if you don’t.
You will remain responsible for all your LLC’s filings and fees. If you don’t keep up with them, penalties may accrue.
Dissolution begins with the triggering event, such as a vote of members per the operating agreement. Termination is when all LLC activities stop, including winding up affairs and filing dissolution paperwork with the state. The filing of those documents finally terminates the LLC.
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