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Buying a closed/dissolved LLC's

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Ballard916

Junior Member
What is the name of your state (only U.S. law)? California

Hello,

I'm thinking of buying closed LLC's, and have a couple questions.

(1) Dose the status of a closed LLC need to be reopened first before ownership is transferred.

(2) Can I research if the LLC i'm looking to buy has any federal tax liens or BOE,SOS fees myself or do I need to hire an Attorney.

(3) Is there any difference when buying a LLC with a closed from dissolved status.

(4) I was told online that in order to close or dissolve a LLC all taxes must be current. Is this correct?

If you want to add any question I should be asking please do.

Thank you
B.What is the name of your state (only U.S. law)?
 


justalayman

Senior Member
Not sure what you mean with a "closed LLC".

If the members are not actively operating the business, it is still a functional LLC. If the LLC has been dissolved, there is no LLC to purchase.

there are suspended or forfeited LLC's though but that would be different than what I would consider a closed LLC.

here is a site that will answer what appears to be most of your questions:

Closing a Business Entity
 

Ballard916

Junior Member
Let's say for example I know of a LLC that went out of business and they have some valuable items in storage, that they forgot about.

The LLC is forfeited,dissolved,suspended. I want to make an offer to buy this LLC from the owner listed on the SOS website. Then take procession of the items. I read on another site it would cost $350 to reopen a LLC.

Would this be plausible?
 

justalayman

Senior Member
The LLC is forfeited,dissolved,suspended.
they are different are situations as well there are two different entities that can suspend or forfeit the LLC. You would have to know why the LLC is in the situation it is.

If the LLC has been dissolved, there is no reactivating it. You must file for a new LLC which would be meaningless in your situation.

as to the forfeiture or suspension; you would have to figure out why it was suspended or forfeited. You may be able to cure the problem, maybe not.

Then you would have to pay the reinstatement fees on top of whatever it cost to cure the reason for the suspension or forfeiture.

If it is on the SOS site, there is a reason it is there. You need to investigate why it's there.
 

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