How to Close an LLC in Ohio: Everything You Need To Know

Knowing how to close an LLC in Ohio is important if you decide to dissolve your business.3 min read

Knowing how to close an LLC in Ohio is important if you decide to dissolve your business. Members must dissolve an LLC to officially close it. This dissolution is essential to ending the corporation since LLCs are separate legal entities.

In the state of Ohio, LLCs must comply with relevant dissolution procedures as stipulated in the Ohio Revised Code Title 17.

Section 1705.43 of the code details the ways in which LLCs may be dissolved. The LLC's article of organization may specify a termination date or the members may agree to end the business. No matter the reason for ending the LLC, a certificate of dissolution must be filed with the secretary of state.

To close an LLC in Ohio, you must undertake several steps.

Close the LLC's Tax Accounts

All active LLCs have tax accounts with different departments under the state government. Before an LLC can be dissolved, all fines and taxes owed on these accounts must be cleared. The following are some of the taxes that LLCs may owe:

  • Employee withholding tax.
  • Unemployment insurance tax.
  • Ohio commercial activity tax.
  • Sales and use tax.

The procedure for closing the tax accounts is simple. All you need to do is file a final return to the appropriate department or agency. However, some tax accounts may require the submission of additional official paperwork.

If you require expert assistance to close the tax accounts, you should consider hiring a certified public accountant.

File Articles of Dissolution

These forms must be filed to voluntarily dissolve an LLC. Once the forms have been processed, the LLC no longer exists. In the state of Ohio, articles of dissolution must be submitted via regular mail.

The process of LLC dissolution in Ohio is part of a larger process termed “Winding Up.”