Delaware Timetable for Canceling Your LLC
If you have stopped using one of your LLCs, make sure to cancel your LLC rather than just letting it go. The Delaware LLC cancellation process will ensure that your business is no longer active, halting any annual fees and tax obligations that you would otherwise have to continue paying. Whether the company didn’t turn out as planned or you feel the company has run its course and it’s time to shut down, Harvard Business Services, Inc. is here to assist with any cancellation needs.
To begin the Delaware LLC Cancellation process, you may file a Certificate of Cancellation with the State of Delaware directly or request that Harvard Business Services, Inc. assist you with the filing. If we assist, we create and fill out all the necessary documentation needed to cancel the company and send it to you for electronic signature. Once you sign the Certificate and return it to us, we will file it with the State of Delaware swiftly.
The cost when filing through Harvard Business Services, Inc. for a Delaware Certificate of Cancellation is $450 plus any applicable franchise tax. The State of Delaware requires that your Franchise tax is paid up-to-date, which also includes the current year. For example, if you would like to file a Certificate of Cancellation in the year of 2024, the Certificate needs to be filed by December 30th, 2024 with the State of Delaware and the 2024 Franchise tax balance also needs to be satisfied. Typically, the 2024 tax would not be due until June 1st, 2025; however, the State requires that it be paid in tandem with the Delaware Certificate of Cancellation. If you were to file the Cancellation on or after January 1st, 2025, then the 2024 and 2025 franchise tax payments need to be paid along with the Certificate of Cancellation. Here at Harvard Business Services, Inc., we understand that your money is important to you and we want to ensure that all avenues are clear before you begin your Cancellation process.
Please note - the turnaround times for canceling an LLC differ when filing directly with the State of Delaware versus filing through Harvard. The State’s typical turnaround time is 3-4 weeks and can be extended during the end-of-year chaos. If Harvard assists you with the filing, the turnaround time is drastically shortened, as our typical turnaround time is 3-5 business days.
Once the Delaware Certificate of Cancellation is approved, we email you the date-stamped Certificate of Cancellation from the Delaware Secretary of State. Our system is updated accordingly to reflect the Cancellation and no additional Registered Agent fees need to be paid to Harvard.
We understand that canceling an LLC due to any circumstance can be frustrating and overwhelming, but we are here to make the process as seamless as possible. Also, as always, if you change your mind, you can always renew your company at any time, and we will be right here to assist you accordingly.
Harvard Business Services, Inc. is here to serve you for all of your business needs, and we are only a short email or call away.
*Disclaimer*: Harvard Business Services, Inc. is neither a law firm nor an accounting firm and, even in cases where the author is an attorney, or a tax professional, nothing in this article constitutes legal or tax advice. This article provides general commentary on, and analysis of, the subject addressed. We strongly advise that you consult an attorney or tax professional to receive legal or tax guidance tailored to your specific circumstances. Any action taken or not taken based on this article is at your own risk. If an article cites or provides a link to third-party sources or websites, Harvard Business Services, Inc. is not responsible for and makes no representations regarding such source’s content or accuracy. Opinions expressed in this article do not necessarily reflect those of Harvard Business Services, Inc.
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There are 4 comments left for Delaware Timetable for Canceling Your LLC
Amnpreet Hawley said: Monday, December 27, 2021I’d like to cancel my LLC before the end of the year.
HBS Staff replied: Tuesday, December 28, 2021Hi Amnpreet, Please call us at 1-800-345-2677 option 2 between the hours of 9 a.m. - 5 p.m. EST to begin the process of cancelling your LLC.
Hiroyuki Kitagawa said: Sunday, December 19, 2021Can I cancel my llc?
HBS Staff replied: Tuesday, December 21, 2021Hi there,
Please fill out this contact form on our website and a member of our filings team will be happy to assist you. www.delawareinc.com/closing-a-delaware-business
Randy Burnett said: Monday, December 13, 2021I would like to cancel my LLC
HBS Staff replied: Tuesday, December 14, 2021Hi Randy,
If you would kindly fill out the form on this webpage, a member of our filings team will be happy to assist you: https://www.delawareinc.com/closing-a-delaware-business/
John urstadt said: Thursday, December 9, 2021I received a blog notice, "it's time to cancel your llc", this is just in case I want to cancel right? I have no desire to do so. It's an odd post
HBS Staff replied: Thursday, December 9, 2021Hi John,
You are on our blog email list and this was just our new blog of the week. December is typically when people who seek to close their businesses do so. This was only to inform of the service we offer.