Katie <katiej_1958[at]yahoo.com> wrote:

- quote -

Thanks for the update, Katie. I was unaware of that.

Stu

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On May 15, 12:07*pm, irfansm...[at]gmail.com wrote:
- quote -


California's procedures for dissolving or cancelling a corporation
were simplified a couple of years ago, to everyone's relief. It is no
longer necessary to obtain a tax clearance certificate from the FTB.
Now all that one has to do is (1) file a final return, so designated,
with the FTB and (2) within 12 months of the date of filing the final
return, file the appropriate dissolution or cancellation documents
with the Secretary of State.

For detailed information, see FTB Publication 1038,
http://www.ftb.ca.gov/forms/misc/1038.pdf. The dissolution forms are
available on the Secretary of State's web site, sos.ca.gov

Katie in San Diego

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irfansmith[at]gmail.com wrote:

- quote -

This is more a legal question than a tax one, though there are tax
elements involved.

- quote -

The preparers here will have better information. My understanding is
that you can indicate that the last return is the final one.

- quote -

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.

- quote -

It's not very difficult if you know what you're doing.

Stu

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<< ------------------------------------------------------- > << 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. > << ------------------------------------------------------- >

How does one terminate a California C Corp ?

1. for the IRS..
What forms ( form numbers ) should one use ?

2. For California
What forms ( form numbers ) should one use ?

Also any input on how easy / difficult it is.... would be great.

Regards,
Irfan Smith

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<< ------------------------------------------------------- > << 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. > << ------------------------------------------------------- >