Dissolving a Mississippi LLC
If you and other members of your organization are considering dissolving your LLC, it's important to address the required steps; otherwise, you could face administrative consequences and additional challenges associated with the dissolution of your Mississippi LLC.
Before you file paperwork
Before anything is filed with the state to formally terminate the existence of the LLC, members of the LLC need to take certain actions. As a first step, members of the LLC need to approve the dissolution. This can be done in accordance with the operating agreement of the LLC or through a unanimous consent of the members approving the dissolution. Regardless of the method, the vote on the dissolution should be recorded in the minutes of the meeting in which it occurred. This can be helpful in the event that someone does not remember providing their consent.
What to file
You can complete the entire Mississippi LLC dissolution process and pay the fees online. Printed forms can be submitted via US mail to the secretary of state. In order to dissolve a Mississippi LLC, you will need to submit a filing fee. You are not required to obtain tax clearance from the Mississippi Department of Revenue before initiating a Mississippi LLC dissolution. No expedited processing is currently available.
If you change your mind about dissolution, you have a maximum of 120 days to revoke the dissolution and there is another filing fee.
We recognize that this process can be overwhelming and frustrating for someone in the midst of winding down the business of an LLC. To avoid the hassles associated, you can partner with our service and we will handle all aspects of dissolving your Mississippi LLC for you.
Impact of dissolution
Once formally dissolved with the state, the name of your Mississippi LLC is not protected. Other entities may be eligible to use the name immediately. Every LLC in the state of Mississippi is required to submit an annual report to the office of the Secretary of State. If an LLC fails to file their annual report or assumes that the member vote to dissolve the LLC is enough to terminate business status, the secretary of state can dissolve the company administratively.
Finally, remember that if you are authorized to do business in other states, you will need to follow the necessary procedures within those states to decrease your chances of facing additional consequences outside of Mississippi. Swyft Filings can help with your withdrawal from any state where you are foreign qualified.