What You Need to Know When Closing Your Business

There are various reasons a business may need to file for dissolution beyond just closing its doors and going out of business.  Regardless of the reasons, it is important to take the critical steps necessary to dissolve the business in order to comply with federal and state tax regulations as well as protecting yourself from potential risk and fines.

As a business owner you might have questions such as: What does it mean to dissolve your business?  Why dissolution is important? The risks if you do not formally dissolve? Does the IRS and state tax authorities need to be notified? What  tax forms need to be filed?

Our tax prop has more than 30 years of experience working with small business owners. He has advised many small business owners on the benefits of incorporation and helped companies start, run, and grow their businesses. He is well versed with the ongoing tax compliance requirements required by the IRS and New York State.

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