Dissolution of an LLC in San Diego

dissolution of an LLC in San Diego

What is required to close a business?  What steps are involved in the dissolution of an LLC in San Diego and why is it important to have the assistance of an experienced attorney?  The legal process for closing the doors of an LLC in California is known as a “dissolution.”  If the owner or owners of an LLC do not take the necessary steps to properly close their company, they remain exposed to liabilities, taxes, penalties and accumulating interest.

In some cases the LLC has achieved the goals for which it was established, and you simply need to conclude the affairs of the company and close the books.  In other situations, unexpected developments or changing business factors have lead the owner or members of an LLC to reach a difficult decision: “It’s time to close our doors.”  The dissolution of an LLC in San Diego can be quite emotional for the parties involved, and this often leads to volatility and member disputes.

The experienced San Diego business attorneys at the Watkins Firm understand all of these perspectives, and work to provide sound counsel and an effective process to move you through to completion.  We work to quickly and efficiently resolve existing disputes and contingent liabilities.  The process involves identification of all assets and receivables, debts and liabilities and payroll obligations.  The State of California provides legal priority for payment of outstanding debts and a smooth process to notify appropriate state and local agencies.

We must ensure that proper tax filings are completed, and final paperwork submitted to all interested parties.  Finally, any remaining funds are distributed based upon the agreements established in the LLC operating agreement or corporate documents or subsequent settlement agreements.

If you are interested in learning more about the dissolution of an LLC in San Diego we invite you to contact the Watkins Firm or call 858-535-1511 for a free consultation to learn more.

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