How to Dissolve Your Wyoming LLC: A Step-By-Step Guide for Business Owners

Whether you’re strategically shifting your company, restructuring it, or it’s the end of your

business venture, you may need to dissolve your Limited Liability Company (LLC). Regardless of your reason, it’s important to understand the correct process to dissolve an LLC in Wyoming to avoid any legal troubles.

Below is a step-by-step guide to help you.

Step 1: Members’ Meeting

Step one to dissolve your LLC is to hold a meeting with your members where you should vote on whether or not to dissolve the LLC. Be sure to record the vote in the meeting minutes.

The operating agreement of your LLC should outline the process for dissolvent as well as include the required majority vote.

Step 2: Settle All Outstanding Debts

After holding your members’ meeting and before you can dissolve your LLC, it’s very important you settle any outstanding debts your business has, including any obligations to other parties. If there are insufficient funds tied to your LLC, you may need to sell the assets of your business to come up with the necessary funds to cover your debts.

Step 3: File Articles of Dissolution with Wyoming’s Secretary of State

After you’ve settled all of your debts, you will then need to file an Articles of Dissolution with the Secretary of State of Wyoming. This form can be found on the Secretary of State’s website. It does require information such as the name of your LLC and the date you will effectively dissolve your company.

This form has a filing fee.

Step 4: Close Out All Remaining Business Activities

Once you’ve filed the Articles of Dissolution form, you’ll need to close all of your remaining business activities, including closing all business bank accounts, canceling your permits or licenses, and notifying all relevant parties of the dissolution.

Step 5: Make Sure To File Final Federal and State Tax Returns

Finally, you’ll need to file your LLC’s last federal and state tax return. You must indicate that these are your company’s final tax returns.

Conclusion:

Dissolving an LLC requires much more work than ceasing operations. Following the steps above and making sure to file the proper paperwork with the Wyoming Secretary of State’s office is extremely important to ensure that you meet all legal obligations.

We recommend that you consult a legal or business professional to make sure you comply with all regulations when you dissolve your LLC.

While the process seems like a lot, following these steps can help dissolve your LLC in Wyoming without legal complications.