Q: I just made an LLC in December in California through incfile. I wish to cancel it. Please help!!
I can't afford to $49/monthly fees and I can't afford $119 for statement of information (CA state fee $20 and processing fee $99). Times are tough right now and I just can't afford it. I started an LLC cause i was trying out affiliate marketing thingking it'll be easy can earn right away. And can't afford to bleed money while trying to learn affiliate marketing specially I haven't earned a single dime. I haven't figured it out yet. I'm not techy at all. So it was a very dumb decision. So please Help!!!!
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- California
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- Answered
A:
To cancel your LLC in California, you will need to follow these steps:
File a Certificate of Cancellation with the California Secretary of State. You can do this online or by mail. The fee for filing the form is $35.
Once the Certificate of Cancellation has been filed, you will need to complete and file the final tax return for your LLC with the California Franchise Tax Board.
You may also need to close any business licenses or permits you have obtained for your LLC.
It is important to note that if you do not properly cancel your LLC, you may continue to be responsible for filing annual reports, paying taxes, and maintaining your LLC.
Regarding your monthly fees, you will need to contact Incfile to cancel any ongoing services they are providing for your LLC.
I would also recommend seeking the advice of a qualified attorney or accountant to ensure that you have properly canceled your LLC and are not liable for any outstanding obligations or taxes.
If you want to get out of a contract, there are some tips that I can offer:
Negotiate a mutual termination: If both parties are willing to terminate the contract, you may be able to negotiate a mutually agreed-upon termination. This would involve both parties signing an agreement to terminate the contract and outlining any relevant terms, such as any remaining obligations or compensation owed.
Breach of contract: If the other party has breached the terms of the contract, such as failing to perform their obligations, you may be able to terminate the contract based on their breach. However, it's important to review the contract to determine if there are any specific procedures or requirements for terminating the contract due to a breach.
Termination clauses: Review the contract to see if there are any termination clauses, such as a termination for convenience clause, that would allow you to terminate the contract under specific circumstances. Again, make sure to review the contract to determine any specific requirements for invoking these clauses.
Seek legal advice: If you are unsure about the terms of the contract or your options for terminating it, consider seeking legal advice from a qualified attorney. They can review the contract, advise you on your options, and help you negotiate a termination if possible.
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