Domestic Dissolutions
There are typical actions that are taken when closing a business. You must first dissolve your company with the state registered. Then you must file an annual return for the year you go out of business. If you have employees, you must file the final employment tax returns, in addition to making final federal tax deposits of these taxes. Also attach a statement to your return showing the name of the person keeping the payroll records and the address where those records will be kept.
The annual tax return for a partnership, corporation, S corporation, limited liability company or trust includes check boxes near the top front page just below the entity information. For the tax year in which your business ceases to exist, check the box that indicates this tax return is a final return.
Delaware Highlights
Delaware requires the company to pay the current year annual fees before you can dissolve your company. Reports for 2016 are collected in 2017. In order to dissolve in the year 2017, you pay the 2017 taxes normally due in 2018.
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