How do I dissolve a sole proprietor LLC, and deal with federal and state taxes I may owe?

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How do I dissolve a sole proprietor LLC, and deal with federal and state taxes I may owe?

I operated a business for less than 2 years, over 3 years ago. I didn’t keep records or report income. I would like to clean up this matter and put it behind me but don’t know where to start.

Asked on February 8, 2012 under Business Law, Connecticut

Answers:

Joseph Gasparrini

Answered 9 years ago | Contributor

To formally dissolve an LLC you need to file a document with the Connecticut Secretary of State called Articles of Dissolution.  To get the form and instructions for completing and filing it, go to the Secretary of State website; click on Business Services and go to Domestic Limited Liability Company forms.  There you can download the form entitled Articles of Dissolution.  You should follow the instructions to complete and file the form, which will dissolve your limited liability company.  However, you still need to deal with the financial aspects of your business operations.  As the sole owner of an LLC, while operating the business you should have reported business income and expenses on Schedule C of your personal federal income tax return.  If this was not done during the years in which you operated the business, you should obtain the advice of an accountant regarding the apppropriate way to deal with reporting of the business income and expenses on your income tax returns.


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