From: Lakeland, FL

My daughter and I formed an LLC (I know you're not a fan of them - it was recommended by our lawyer). She and her husband are considering a major career move so we are considering disbanding the LLC.

Can we do this ourselves?

Thanks.

 

 

Hi Lynn,

Please don't misunderstand my dislike of LLCs. That's only in California, where they're SO expensive.

Can you disband it?

I don't know. If there are no assets and the company doesn't owe anyone money, maybe.

But I also don't know Florida corporate law. There may be some glitch or expectation or liability of which I'm not aware.

But you may be able to get help and still do it relatively cheaply. Talk to these guys at the Company Corporation.

I think they do dissolutions, too.

And you may want to read the next Tax Watch article on MarketWatch.com for another important tip.

Best wishes,
Eva Rosenberg, MBA, EA