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Level 2
posted Sep 23, 2018 2:56:29 PM

How to close down a NY Corporation during the year?

Hi,

 

I have a corporation created last year and didn't run any operations and businesses (so sales and income is $0), I filed the Corporate tax return earlier this year with everything 0. Now I want to close that corporation, based on what I read online I need to obtain tax clearance with NY state, how do I do it? Should I just mail them my last year's tax return and tell them I didn't do any business this year? Or should I file another tax return right now and mark it as my final return?

 

Thanks!

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1 Replies
Level 15
Jul 18, 2019 10:30:03 AM

Basically, you just file a federal and state corporate return marked as "final" and ensure all K-1's issued are also marked "final". What other steps you may (or may not) need to take with the state depends on what type of corporation this is, be it an S-Corp or a C-Corp. You may want to seek professional help on this, as from what I read at https://www.northwestregisteredagent.com/dissolve-new-york-corporation.html it doesn't appear to me to be a simple matter of just filing a "final" corporate return.