There are several reasons why a Nevada limited liability company must be dissolved. Some LLCs have a limited duration as described in their formation documents and must dissolve after the date listed there. Other LLCs must dissolve if one of the owners dies or goes bankrupt. Despite the reasons why you are dissolving an LLC, you must follow Nevada's dissolution procedures to formally terminate the company's existence. An LLC is still subject to legal obligations, including lawsuits, even after it has been dissolved.
File for LLC Dissolution in Nevada
Calculate your LLC's final profit and losses by accounting for all of the company's current assets. Meet with other members of the LLC, if your LLC has multiple owners, to compose a detailed list of the company's property, finances and debts. All of your company's financial obligations, including those to the owners, should be met before filing for formal dissolution.
Compensate all of your LLC's current creditors, including owners of the LLC. Nevada requires the owners of a dissolving LLC to pay all of its debts and obligations, or make the necessary provisions to that end, before filing dissolution documents. Creditors must be compensated before the LLC's members receive their portion of the company's final assets.
Distribute the final assets and property of your LLC to its owners in proportion to their ownership or investment in the company. Assets or losses are distributed in direct proportion to each owner's stake in the company unless otherwise stated in the company's operating agreement.
Complete Nevada's form titled "Articles of Dissolution for a Nevada Limited-Liability Company," NRS Chapter 86.531. This short form requires the name of the LLC and the signature of a managing member. If your LLC has no managing member, then a standard member may sign this form.
File for dissolution by submitting the completed form to the Nevada secretary of state's office. The minimum fee for this filing is $100. Expedited processing services or additional companies on the completed dissolution documents incur additional fees.
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