With an LLC in Georgia, what steps do I need to take to remove myself from the LLC? How much will it cost to do so?
To remove yourself from an LLC in Georgia, you will need to follow these steps: 1. Review the LLC Operating Agreement: Check if there are any specific provisions regarding member withdrawal or dissociation. Follow the procedures outlined in the agreement if applicable. 2. Inform other LLC members: Notify the other members of your intention to withdraw from the LLC. This can be done through a written notice or by discussing it with them. 3. File Articles of Amendment: Prepare and file Articles of Amendment with the Georgia Secretary of State. These documents will update the LLC's records to reflect your withdrawal. The filing fee for Articles of Amendment is $20. 4. Update IRS and state tax authorities: Notify the IRS and Georgia Department of Revenue about your withdrawal from the LLC. Update your tax records accordingly. 5. Settle financial obligations: Ensure that all financial obligations, such as debts, taxes, and liabilities, are settled before withdrawing from the LLC. 6. Obtain a tax clearance certificate (optional): While not required, obtaining a tax clearance certificate from the Georgia Department of Revenue can provide assurance that all tax obligations have been fulfilled. The cost to remove yourself from an LLC in Georgia typically includes the filing fee for the Articles of Amendment ($20) and any legal or professional fees if you choose to seek assistance. The exact cost may vary depending on your specific circumstances and whether you choose to handle the process yourself or hire professional help.
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