What is an Articles of of Cancellation in Maryland?
Once you have decided to close down your business, you will file the Articles of Cancellation with the Department of Assessments and Taxation, Maryland to terminate your active LLC.
How to File Articles of Cancellation?
- The first step to file your final tax returns to the Internal Revenue Service and State (if applicable).
- Pay all liabilities includig State Taxes, Sales Tax (if applicable) and Payroll Taxes (if applicable).
- Your company must be in a good standing in order to file a certificate of dissolution.
- You have to liquidate and distribute the Corporation assets to the stockholders.
- You have to notify and surrender licenses if applicable.
- Prepare articles of cancellation to terminate Maryland LLC and include
- The name and principal office address of the Limited Liability Company
- The name and address of a Maryland resident who shall serve for one year after termination
- The name and address of each member who was designated to wind up the affairs of the company
- The company has no known creditors ( ) OR Notice of Termination was sent by registered mail, postage prepaid, return receipt requested to all known creditors of the company on the date
- To terminate a Maryland Limited Liability Company (LLC) an originally executed "Articles of Cancellation" must be submitted to Department of Assessments and Taxation
- Any provision the parties decide is relevant may be added to the Articles of Organization. Documents must be typed or printed in black ink and
- The correct filing date must be provided when required.
Useful Link:
http://dat.maryland.gov/Pages/default.aspx
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