irfansm
...@gmail.com wrote:
> How does one terminate a California C Corp ?
This is more a legal question than a tax one, though there are tax
elements involved.
> 1. for the IRS..
> What forms ( form numbers ) should one use ?
The preparers here will have better information. My understanding is
that you can indicate that the last return is the final one.
> 2. For California
> What forms ( form numbers ) should one use ?
For a California corporation you need to first pay all taxes, and then
request a tax clearance certificate from the Franchise Tax Board. Once
you get that, you have a limited time (I don't recall off the top of my
head - perhaps 30 days) to finalyze the internal corporate documents.
Then there are other documents that gets filed with the Secretary of
State to document final termination.
Go to the California Secretary of State's website, and they will tell
you just what is needed.
> Also any input on how easy / difficult it is.... would be great.
It's not very difficult if you know what you're doing.
Stu
--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>
