To liquidating

Contact the secretary of state's office for your state and ask for the necessary termination forms.

While the information an LLC needs to provide may differ by state, most require at least the name of the LLC and its members, the filing date, the date the dissolution will be in effect, the reason for making the decision to dissolve and information concerning pending legal actions or unpaid taxes.

And don’t wait for customers to come in to take advantage of the special offer: Market your end-of-season sale heavily on your business’ website, Facebook page, email newsletters, and other marketing vehicles. Smart shoppers have become trained to flock to the clearance racks at the back of the store, so be sure to build a large display to showcase all of your discounted merchandise.

You may also want to place a number of “bargain bins” throughout the store, so you’ll be able to pick up some impulse buyers as well.

Turn your unwanted inventory into a “gift with purchase.” If your unwanted inventory could be useful to the majority of your customers, consider offering the surplus product as a free gift for customers who spend more than a certain amount in your store. Online marketplaces, including Ebay and Amazon, provide an ideal way to sell excess merchandise fast.

You can either use an auction model, in which you can set the lowest price that you’re willing to accept for the item, or use a set pricing structure.

An impulsive decision to liquidate has transaction cost, tax and total return consequences, so consider carefully your reasons for liquidating before entering sell orders.

One option is a sale by the shareholder of the corporate stock to the corporation in a redemption transaction (assuming the shareholder is not the sole owner) or to another shareholder, rather than a sale by the corporation of its assets.Although most states use a similar winding up process, limit the LLCs liability for lawsuits and government fees by first contacting your state's secretary of state to check for any special or state-specific requirements.Make a formal decision to liquidate or dissolve an LLC by taking a vote to dissolve according to procedures outlined in the LLC articles of organization or in an operating agreement.Whatever the case may be, you need to liquidate your surplus inventory — fast. Depending on your profit margins, you may want to discount your products by anywhere from 25 to 75 percent, or offer a “buy one, get one free” deal to make the promotion look attractive.Group marked-down items together for better in-store promotion.

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