I have an LLC (in New Jersey) that I created about 8 years ago purely for tax purposes. I was self-employed at the time, and I thought by having an LLC, I could write off a bunch of expenses, and save on self-employment taxes. Anyway, I almost never used it, and it's just been sitting there, useless. I just got a certificate of revocation in the mail.
I just want to get rid of the business and be done with it. So the question is - should I:
- Reinstate the business ($375 - $275 reinstatement fee + $100 annual fee) in order to dissolve it?
- Don't take any action, just let it be revoked and leave it alone.
- Something else?
I fear if I go route #2, I'll be penalized or somehow pay for bad standing in the future (or if I decided to create another business in the future, which is a possibility).
Ideally, I'd like to properly dissolve the business, but I don't want to pay $375 to do so.