To liquidating

Liquidation is also sometimes referred to as winding-up or dissolution, although dissolution technically refers to the last stage of liquidation.The process of liquidation also arises when customs, an authority or agency in a country responsible for collecting and safeguarding customs duties, determines the final computation or ascertainment of the duties or drawback accruing on an entry.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.If the LLC has no dissolution procedures in place, a vote to dissolve must follow state-specific LLC rules and regulations.The court may dismiss the application if the petitioner unreasonably refrains from an alternative course of action.Liquidating a limited liability company involves more than simply making a decision to cease business operations by closing the doors.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.Depending on the state, the LLC may also be required to submit a list of all debts, liabilities and remaining LLC assets.

You can do this by choice, but bankruptcy may also liquidate debt to satisfy your creditors.Liquidation may either be compulsory (sometimes referred to as a creditors' liquidation) or voluntary (sometimes referred to as a shareholders' liquidation, although some voluntary liquidations are controlled by the creditors, see below).In addition, the term "liquidation" is sometimes used when a company wants to divest itself of some of its assets.If you’re using a set price, be sure to research what other sellers are charging for the same product: Online marketplaces offer access to a broad network of customers, but have much heavier competition than selling locally.It can take some time to market your products online, so consider asking an assistant or intern to photograph the items and list them on your sites of choice.