Dissolving an Alaska LLC
If you and the 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 Alaska LLC.
We recognize that this process can be overwhelming and frustrating for someone in the midst of winding down an LLC. To avoid the hassles associated, you can partner with our service and we will handle all aspects of dissolving your Alaska LLC for you.
Before you file paperwork
Before anything is filed with the state to formally terminate the existence of the LLC, the 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 dissolution should be recorded in the minutes of the meeting in which it occurred. This can be helpful in the future if someone does not remember providing their consent.
What to file
You need to send duplicate versions of your completed form to the Division of Corporations, Business and Professional Licensing. This piece of paper can be sent by fax, in-person, or by mail. If you are faxing or mailing your request, a credit card payment form must be included. A money order or check can be sent through the mail made out to the state of Alaska.
No original signatures are required to dissolve your LLC, and faxed copies of the articles of dissolution will serve as the necessary paperwork. There is a fee required when dissolving an Alaska LLC and no expedited service is available.
Typically, the filing process will be completed within 10 to 15 days for hand delivered, faxed or mailed documents. Additional time may apply for the return mailing. You will receive a stamped copy of the file by mail.
Impact of dissolution
Once you have dissolved your company, you are no longer eligible to use the company name and it becomes available for other people to acquire.
If the company is involuntarily dissolved, your business name remains safe for six months. However, after that point, someone else can request the business name. If you fail to dissolve properly, the consequences can be severe.
If you fail to file the bi-annual report required by LLCs in the state of Alaska, a penalty of 10% of the amount of the business tax assessed against it from January 1st of that year forward can be applied. A notice of delinquency may be the first sign that you have violated this bi-annual report filing requirement. If you don’t handle that delinquency within 60 days of mailing, and your bi-annual report is not filed within six months of the due date, the government will dissolve your Alaska LLC. After this six-month period has concluded, you will have to file for reinstatement by paying all the penalties and fees, and filing any missing reports if they were filed within two years of the dissolution of your LLC. If more than two years have passed since your LLC dissolution date, you will have to file as a new entity.
Alaska LLCs can also be involuntarily dissolved for administrative reasons like failing to pay penalties or fees, not filing your bi-annual reports, or due to a court decree.
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 Alaska. Swyft Filings can help you with your withdrawal from any states where you are foreign qualified.