I have termed my current contract company. What does this mean for my LLC?
An LLC belongs to the owner(s) of the business, not the contract company. With this in mind, the business owner has a few options available when it comes to their LLC:
Option 1: I have termed my current contract company and plan to keep my existing LLC.
If your intention is to keep your LLC, and the address on the LLC is still current, then no further action is needed on part of the business owner. If you have not done so already, you will need to ensure that you have provided Abacus CPAs with your most up to date contact information (phone number, address, and email address) as we must have this information to be able to serve as your Registered Agent. Be sure to also annotate your calendar that you will have a Yearly Registered Agency fee due at the first of every year.
Option 2: I have termed my current contract company, but I do not wish to keep my existing LLC.
If you have made the decision not to keep your LLC, and your business is no longer in operation, the business owner of the company will need to take measures to administratively dissolve the LLC with both the Secretary of State and the IRS. Contact us at 417.380.5000 or at email@example.com to learn more about our LLC Administrative Dissolution service.