How to close an LLC for free in 2019

In the process of operation, there are moments when it is necessary to take strategic decisions concerning financial activities. It turns out that the choice is made in favor of the termination of work and the elimination of the company

Methods and causes of liquidation

Today, there are several ways of closing the LLC with debts, from which the final statute of the liquidated legal entity is determined.

In accordance with the Federal Law “On limited liability”, the following liquidation methods can be distinguished:

• voluntary liquidation;

• good liquidation;

• bankruptcy;

• liquidation of LLC with debts through reorganization.

• The listed procedures may have different legal consequences for the users, but as a result of the liquid, the company is excluded from the process

Reasons for the liquidation of LLC:

• Fulfillment of the goals and objectives of the company, which are provided for in its charter - having achieved them, the company closes, as it becomes unnecessary.

• The organization has a large degree of tax risk in the continuation of its activities.

• The liquidation of the LLC is due to the large volume of costs incurred, which are not able to cover the funds received at the enterprise.

• The closure of the company occurs due to existing disagreements between the owners of the enterprise, as well as upon their withdrawal from the founders. An organization may be liquidated if there are debts to third parties.

• Transformation of the company into another business entity through reorganization.

• Liquidation of the LLC in connection with the termination of the license for the activities or its final closure.