Process for dissolving a recently-opened Colorado LLC?
I need help dissolving an LLC a couple of friends and I created. It seems as though we jumped into this much too quickly and unfortunately, things did not go as we had planned.
I am in the U.S. and used LegalZoom to file. They filed with both the state I am in (Colorado) and with the IRS.
We filed only a month ago and had no business expenses, no assets, and made absolutely no revenue.
I have not filed anything with the IRS besides the SS-4 to receive an EIN. I have also not activated payment with the EFTPS. I am not filed as an S-Corp.
What do I do to dissolve the LLC? All of the owners are in agreement to dissolve so there is no issue there. What forms do I have to fill out? Do any of us have to claim this business on our personal tax returns next year? How do I file for dissolution with the IRS? If I do have to pay any taxes, how do I calculate them (for both the business and personal returns)?
EDIT:
The state is Colorado. We are registered there and paid the appropriate amount () and have received conformation of our filing.
Also, the IRS says they require a Letter of Dissolution to close an EIN. What exactly should this entail? Their website says Name of Business, EIN, and reason for closure, but I want to make sure there is nothing that we miss.
What are some things we should look out for with closing an LLC?
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Forms for the Colorado LLCs are online. You can find the link to the dissolution form here, and instructions here.
IRS instructions are here. That's what they want:
To close your business account, send us a letter that includes the
complete legal name of the entity, the EIN, the business address and
the reason you wish to close your account. If you have a copy of the
EIN Assignment Notice that was issued when your EIN was assigned,
include that when you write to us at:
Internal Revenue Service Cincinnati, Ohio 45999
Everything is pretty straight forward.
Note that you might be required to file a initial/final tax return if you had any transactions.
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