You're confusing "winding a business down" with "bankruptcy" in the US.

As long as you follow the law, there is no government "approval" of a dissolution. You notify shareholders and creditors, then resolve any outstanding payments, then dissolve.

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da_chicken 5 days ago | parent [-]

You haven't said anything new. "As long as you follow the law" is basically what I described. You're taking the requirements of clearing your debts and burying them under a phrase, and then claiming you're saying something different.

In part, "following the law" means "clearing any outstanding debts."

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refurb 5 days ago | parent [-]

You seem to have ignored the important distinction - there is no government approval needed.

Even if you have outstanding debts, you can still dissolve the LLC. Of course creditors can cause trouble for doing that, but there is no government approval in the process.

	▲	da_chicken 3 days ago \| parent [-]
		In every state in the US I'm aware of, you must file for a certificate of dissolution with the state department. You can't do so unless you're in "good standing". In effect, you're not allowed to complete the dissolution until the state permits it.