How to Close a Business in Seattle
DRAFT FORM
Time to close up shop?
I’ve got you covered.
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There are two steps to this process:
Part 1 / Alert all agencies - to close the business
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Part 2 / Do the final tax reporting.
Part One - Alert all Agencies / Closing the Business
1 - IF Relevant to you - Close your LLC/PLLC
With the Secretary of State
Referred to as filing a “Certificate of Dissolution”
Paper form - click this link for the form (if this doesn’t work, search on the SOS.wa.gov site for “close LLC”)
Online - sign into the Corps and Charities Filing System. Look on the left nav for “Dissolution/Withdrawal” link. Search for your LLC/PLLC. Select yours, then follow the instructions.
2 - Close WA State Business License
With Washington DOR (Dept. of Revenue)
Referred to as “Close my Account”
Paper Form - Business Information Change Form. Mailing info on the form.
Online - sign into MYDOR. Click “Get Started” or navigate to your “Excise Tax Account” page. Scroll down, at the bottom, you’ll find a link for “Close License Account.”
3 - Close City of Seattle Business License
With City of Seattle
Referred to as “Cancel a License”
Paper - Write a letter, include this info (Name and phone number, Customer number, Legal name of business, Date business closed). Mail to: Finance and Administrative Services, PO Box 94689, Seattle, WA, 98124-4689
Email - Send an email with the info listed above, to: tax@seattle.gov
Online - Fill out an online form. Click here. If it doesn’t work, please call: 206.684.8484
4 - IF Relevant to you - Close your Account with King County
With King County Department of Assessments
Referred to as “Close Account”
Paper Form - Fill out the Advance Tax Request Form. Click here to download. Address on the top of the form. Need more help? Call 206.296.5126 or email: personal.property@kingcounty.gov
NOTES
• Have any special permits? Or licenses? Please contact the issuers of those to find out how to cancel.
• There is NO need to notify the IRS
Part Two - Final Tax Reporting
1 - Make final report to WA State
Due within 10 days after closing your license.
Note - Some of you file ANNUALLY, some of you file QUARTERLY. You will need to make sure that all reports are complete.
Options:
• Go onto MYDOR, log into your account. Navigate to: “Manage Payments and Returns”. Find all reports that are still due - and complete these. If you need help, call 360.705.6705.
• Call the DOR and ask them to help you. 360.705.6705.
• If you use paper forms, these will likely be mailed to you. You can call the above number for assistance.
2 - Make final report to City of Seattle
DUE - Seattle will let you know. Standard due date is by April 30th of the next calendar year.
Options:
Online - Sign into FileLocal to complete your annual report
Paper - You can request paper forms by emailing tax@seattle.gov or, make the request as part of the Online Form for canceling your license.
3 - IF Relevant - Make final report to IRS
If your business had any activity - whether you had a profit or loss, you will need to report it as part of that year’s taxes. If you are a Sole Prop or Single-Member LLC, then it is reported along with your individual taxes … on the Schedule C form. See this page for info on IRS taxes.
For example, let’s say Meghan closes her music business in June of 2021. She made a small profit of $800. Meghan will need to report her business info next year, before April 2022 along with her personal taxes.
If your business had NO activity in its final calendar year, then there is NO need to report anything with the IRS next April.
NOTE
• Final report to King County was covered earlier, with the Advance Tax Request Form
• NO need to do any financial reporting to the LLC / PLLC. (That is done through your WA state business license.)
Phew! Well done. Be sure to give yourself a nice reward for finishing this chapter - whether it was a short experiment, or on-going side gig, or a major career! It’s worth marking the change, and it’s important to treat yo’self for following through all the way to the end. Need some ideas? Click here for a Reward Menu.
I got to be on the Soulful MBA podcast! Airdate: September 17, 2018
This was my first time being on a podcast, and wow, what a pleasure!
♥ ♥ ♥ ♥ ♥ ♥ ♥ ♥
Here’s the Link to listen in: Episode 97 | Jenny Girl Friday: Why Every Business A Sidekick
It’s called Soulful MBA Podcast, hosted by Jeni Barcelos and Sandy Connery. A truly dynamic duo, helping healers and wellness professionals develop thriving online businesses. Read more at: soulful.mba.
Ever feeling like license + tax stuff is super confusing? You’re not alone! In this episode, we get real about the challenges of following tax + license deadlines (and even get to complain a little bit.) I share some strategies + tips, as well as my origin story and the deal I made with my husband.
Read on to find out:
♥ how to get your FREE 1,2,Go Chapters
♥ more resources (including my go-to CPAs,)
♥ and to hear a little more to the story………. :)
A little about the 1, 2, Go Section …… and how to get it for Free
This is the ♥ of the Book. It’s a blue print for getting started. Instead of a business plan……
1 - Get Licensed
2 - Get First Customer
Go - Do your work + Set up Shop!
Section 1 is crafted exactly for Seattle. If you live in a different city, you can use the info to help you investigate what you need in your home town. Sections 2 + Go work anywhere!!! Get started quickly, build momentum, and lay in some useful and helpful habits from the beginning.
To get 1,2,Go for FREE ………simply sign up for Sidekick Services via email. (You can leave the list any time, and there are no strings attached, no up-sales. If you stay on the list, we may ask for a donation from time to time. Like NPR or Wikipedia.)
If you’re already on the list, email me at jennygirlfriday@gmail.com, and I’ll send it to you!
Resources and how to get help
There was a great question in the interview……….how do people normally get help with all this? Meaning state, city, and county taxes, in addition to IRS taxes. I answered what’s typical, that many people miss these details, how many CPAs only handle IRS taxes……and help is hard to find! (That’s why I do what I do!)
However, I forgot to share that there is some help! Here are some strategies and resources.
1 - Many CPAs will help with local taxes! You just have to ask them.
2 - If you live in Seattle, here are my Go-To CPAs. They already include local taxes in their offerings. Luke at TimberTax.co and Alexandra at HipsterMoney.com. They’re both super friendly and fun to work with and know their stuff!
3 - Sign up for my Sidekick Services. I send email reminders for meeting all local tax + license deadlines. If you live in a different city, use these reminders………as prompts to reach out to your city, county, and state to learn more.
4 - Call each level of your local government, and ask what help is available! Many city and state departments have classes, webinars, handbooks…….and will sometimes even offer 1-on-1 consulting for free! If you’re not sure where to start, call your city and ask the business specialist everything you need to know, and which government bodies you’re a part of. (Such as county, bureau, non-incorporated, etc.)
More to the story………..answers I forgot because I was nervous!
More on our Origin Story + How we’ve had to DIG DEEP
After my husband’s first year off, we committed to both being self-employed—because we came to believe in it as a lifestyle, more nourishing to our souls, to be with our children more, and to just see if it could be done in Seattle!
To that end, we built an Airbnb in our basement and emptied half our retirement. (Scary!!) Alex is a musician, and plays fiddle and calls square-dances. He might go back to Camper Vans, he’s also considering other creative work he wants to do. It has been quite a journey! We had to dig deep a lot, and only this year is it starting to get a little easier.
Favorite Rockband
I couldn’t think of one, because I make a ton of Mix CDs of Hip Hop! Current Faves: Cardi B, SZA, Big Sean. Older Faves: T-Pain, Lil Wayne, Ludacris, Missy Elliott, Rihanna
Favorite Hero from Fiction
Liz Lemon, maybe? I wanted to think of a Woman hero…….but they are far and few between. I mostly read non-fiction, and for TV/Movies, I mostly re-watch old favorites: 30 Rock, Parks+Rec, Grey's Anatomy, Lord of the Rings, Pride and Prejudice. I do LOVE the women characters in Black Panther!
A Thing I Say a Lot
To my kids: Did you brush your teeth?
To my clients and friends: If you had a magic wand……what would you do?
Wanna get Sidekick Services? Click here for tax + license reminders, walk-throughs, motivational tips and more. Asking for an annual donation of $5 - $120. Tailored for Seattle, still super helpful in other cities.
Looking for the Book? Click here to find on Amazon. Click here to find in local stores.
♥ ♥ ♥ Thanks for tuning in! I hope to meet you one day….whether in person or in email. And would love to be your Sidekick. ♥ ♥ ♥I think Self-Employed women add vibrancy to our communities and are a gift to the world. You are my hero!
:) Jenny Girl Friday