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Dissolve LLC - New York

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  • Dissolve LLC - New York

    How is an LLC dissolved? I have a New York LLC with my partner but we just decided not to go ahead with the planned business and never signed an oiperating agreement. What do I have to about that? My partner says just to stop paying the fees and forget about it. Is that right?

    Thanks -- Ron

  • #2
    My understanding* is NY law requires an operating agreement, so you are not in compliance there, and of course will be further out of compliance when you stop making the required filings/fee payments/taxes. The best course of action is to consult a local attorney for actual legal advice on how to address your legal issue. Failing that, you might contact the NY SOS to see how to dissolve the LLC.

    (Also, LLC don't have partners; they have members. The terminology can be important, as if you talk about "partners", lawyers and other you speak with may assume you have a general or limited partnership instead of an LLC.)

    * I am not licensed to practice law in New York, so can only provide a general pointer or two here - for NY-specific legal advice, retain a local lawyer who has passed the NY bar exam and who has been educated in, and continues to educate him/herself, New York law.
    Last edited by Calif Business Lawyer; 03-17-2007, 04:12 PM.
    California Business Lawyer Jonas M. Grant, Esq., Law Office of Jonas M. Grant, P.C., Los Angeles, California
    Postings are general information only; do not constitute legal advice or form an attorney-client relationship; are not updated and thus may be out of date; and should not be relied upon to resolve specific legal issues. For legal advice, retain an attorney in your state. IRS Circular 230 Notice.