Maryland  |  Business Law

Legal Question

Asked on: 7/31/12, 1:58 pm

Me and my friend incorporated (LLC) our investment business in 2010 in the state of Maryland. We have an EIN and an account ($20k) in Fidelity to make the investment.

However we were very inactive and only invested in 3-4 stocks, with a total loss of around $1500.

Now we came to know about annual personal property report (PPR) filing with our state, which costs $300. We used to pay Incorporate.com a fee of over $200 to be our registered agent until last year.

We haven't yet file any tax return, since we thought we didn't owe one (no profit).

With all the costs mounting, we have decided to dissolve the LLC. We want to know what steps are involved. Also, do we still need to file the PPR for this year? What about tax returns? Any other forms to file before we can dissolve the llc?

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