How do you close an S-Corp? - Spidell

How do you close an S-Corp?

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Message Board How do you close an S-Corp?

This topic contains 3 replies, has 2 voices, and was last updated by Lynn Freer 1 week, 5 days ago.

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  • #175956
    Shirley Stetson
    Participant

    Client is trying to close her S Corp. We filed a final 1120S in 2016. She has filed her forms and CA is still showing her active on the SOS. Please advise
    Thank you
    Shirley Stetson

  • #175958
    Lynn Freer
    Participant

    You may be eligible for involuntary dissolution where you file returns but are forgiven the $800 tax if there is no income. Check FTB’s website and search for voluntary dissolution or if you attended Spidell’s tax update, everything you need is in the PDF manual sent to you in early February.

  • #175960
    Shirley Stetson
    Participant

    Thank you Lynn for your help and quick response. I did take the seminar in January and also in May. I am only 3 years in on my own and I appreciate all the wonderful guidance I can get. Have a blessed Sunday.
    Sincerely
    Shirley Stetson

  • #176218
    Lynn Freer
    Participant

    You’re welcome.