In New York, a corporation may voluntarily dissolve. By doing so, the corporation effectively ends any obligation to pay future taxes and fees to the state. The process of dissolution for corporations involves the IRS and the New York Department of State, though the process is different for non-profits. At Joseph Falco Accounting, we assist corporations in the process of filing for voluntary dissolution. The procedure for filing for voluntary dissolution involves a two-step process which is simplified with the help of a certified CPA. Allow us to help you through the process and avoid the hassle and confusion of filling out and filing the paperwork yourself.
Procedure For Voluntary Dissolution
- Obtain written consent from the Tax Department (which will check to see if the corporation owes back taxes and if it has filed all its returns)
- File paperwork with the New York Department of State, including a Certificate of Dissolution.
This process seems simple enough, but there’s no better way to go about filing dissolution than allowing a professional to handle it completely. It is essential to ensure that your corporation has filed returns for all of its years of operation as well as verify that your corporation owes no back taxes — allow us to verify that you’re ready to start the dissolution process before you begin and have to correct errors.
In order to dissolve your corporation, you must get consent from the IRS. Getting consent requires completed tax returns for each year you’ve been in business. If you need to file tax returns from previous years, or your business owes back taxes, our firm can be incredibly valuable in providing the correct form and assisting you in completing it and ensuring that payments on back taxes are submitted in conjunction with your filing.
Let us help you through the process of dissolving your corporation so you can devote your time and effort to other necessary tasks. Call us today and schedule a free consultation.