K
Kevin F
Guest
My California LLC took a line of credit (unsecured) and it has outstanding balance. Unfortunately the business is doing very poorly ("it's the economy, stupid") and I'd like to dissolve it.
Can I do so without notifying the bank first?
I understand the the bank will come after me (I personally guarantee the LOC) and it looks as if I'll have to file for bankruptcy, but I wonder if I violate any law by dissolving the LLC without informing the bank.
Last question - if I dissolve now I won't have to pay $800 when I file the LLC tax return? What is the deadline to file so I won't owe the $800?
Thanks.
Can I do so without notifying the bank first?
I understand the the bank will come after me (I personally guarantee the LOC) and it looks as if I'll have to file for bankruptcy, but I wonder if I violate any law by dissolving the LLC without informing the bank.
Last question - if I dissolve now I won't have to pay $800 when I file the LLC tax return? What is the deadline to file so I won't owe the $800?
Thanks.