Dissolving an Arizona LLC
How to Terminate an Arizona Limited Liability Company
To dissolve your LLC in Arizona a filing must be made with the Arizona Corporation Commission. A Articles of Termination must be filed "if all of the known property and assets of a limited liability company have been applied and distributed . . . ." A.R.S. § 29-3702. There is no publishing requirement for terminating an Arizona Limited Liability Company.
Considerations before terminating an Arizona LLC:
Income Tax Advice. Discuss with an experienced income tax advisor of any potential adverse federal or state income tax consequences of filing the Articles of Termination.
Consent to Terminate. Approval of the termination by the members should be done in writing. Review your operating agreement to ensure any necessary procedures are followed.
No more creditors outstanding. Check to ensure that all creditors have been paid. Distributing assets to the members and terminating a company when money is owing to creditors is not in compliance with Arizona Law. If done, a creditor may sue you personally for the recovery of debt plus potentially their attorney fees and costs.
No more assets. All assets of the LLC should be distributed or assigned to the members by written instrument. This could include titled property, cash, or personal property.
Can Thunderbird Law, PLLC handle the filing of the dissolution of my LLC with the Corporation Commission?
We offer preparing and filing Articles of Terminations for Arizona LLC's. We offer flat fee pricing to handle such a request for $495. This flat fee includes an expedited filing fee charged with Corporation Commission. We will also prepare a member consent to document the approval of termination and an assignment of property, if necessary. Click below to get started.
Any reference to law or statute on this page was referencing the law as of October 2020. The law may have changed since this posting.