[whatsgood141]

I started a corp 4 years back to run a business from home. I never actually used the corp for anything because I just couldn't fit it in to my life. 4 years later I still have this corp and I simply want to close it out. I never file any returns for the 4 years I had it because I never use it. My question is do I file for those years and if so how? And how do I close it once and for all?

[Clough]

Hi, whatsgood141!

I have been watching for four days now to see if this question that you had posted in Small Business would get answered properly. So far, no one has responded to it. I really care that questions get answered! So, I decided to clean up the title a bit and move it to this topic area because of the kind of knowledgeable people who usually frequent this topic area.

Considering the subject matter, it will hopefully get more exposure to those best able to answer it in this topic area. This might not be the perfect topic area, but I'm sure that it will get some really intelligent answers here!

Thanks!

[MukatA]

1. All domestic corporations in existence for any part of a tax year must file an income tax return (Form 1120) whether they have taxable income. S-corporation files Form 1120-S. Generally, a corporation must file its income tax return by the 15th day of the 3rd month after the end of its tax year.
2. For federal purpose, on the final return, you select Final Return.
3. Also you must also file tax return where the corporation is registered. For example, Delaware Corp files Form 1100 Corporation Income Tax Return.
4. You must also file State Franchise or Income tax return. For example, for CA, minimum tax is $800 every year except for the first year of existence.
5. Most of the tax people here do individual income tax returns so you should consult a CPA.

[Clough]

Now, there we go! Your question got answered by an Expert! Yea!