Forums: Discussions for entrepreneurs and small business.

Hi folks,

I have had the pleasure of having my first startup failure.  Whoo Hoo!

I learned a lot and am moving on the next effort, but before I do I need to end the LLC I started with my partner.

The LLC is in Illinois, and there is a $250 annual fee for continuing to exist.  Can I simply not pay this fee to end the LLC, or is there some form or something I need to submit.  I hope I don`t need to pay any money to do this, cause that would be kind of ridiculous to have to pay a fee to end a company.

Anyway, thanks for your help in advance.

Thanks for your response.

What is the legal difference between filing the Articles of Dissolution and letting the filing expire by not filing the annual report?

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Your Friend and VA,
Tricia Kos, Owner
Quality Business Solutions, LLC
Your Virtual Assistant Destination
http://www.qbs4u.com

I just sent in the dissolution forms because I figured that the State of Illinois would just continue to bill me the annual payment requirements plus late fees until I actually did.

My first business and website is up at seeingfinance.com.  I realized quickly that it fell more into the bucket of cool website than actual business.  But I learned some good things from it, including that you need to pay money to end a business as well as register it in the first place.

Now I am in California and am starting a laundry delivery service geared toward the college community in my hometown.

Starting an LLC in CA is extremely expensive ($800), so I`m looking for other states to get limited liability protection.  I`ll do that once the business is up and running.

Thanks for your answers and question.

Starting a LLC in California does not cost $800.  Mine cost me $85.  $70 to file articles of organization and $15 to expedite the process (3 to 7 business days instead of 4 to 6 weeks).

The $800 is your franchise fee that you pay when  you file your California Franchise Tax Return at the end of the year.

MightyWing