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My business is set up as a California corporation, and I want to dissolve it. Some people say I need not do anything and that eventually I will stop receiving notices from the Franchise Tax Board. Others say I should file a Form 3555 Request for Tax Clearance and a Secretary of State final filing. Who is correct?
You should file corporate resolutions dissolving the corporation with the Secretary of State and complete Form 3555 Request for a Tax Clearance certificate with the Franchise Tax Board. Unless the FTB receives confirmation of the dissolution from the SOS, it will maintain that the corporation is still active, and you will need to file corporate tax returns and pay minimum taxes. Go online to find more information about how to dissolve a California corporation.
Rob Seltzer is principal of Robert Seltzer, CPA, PFS, in Beverly Hills. You can reach him at (310) 278-9944.
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