I have a client who is retiring and closing his S corporation as of the end of May. What is the proper procedure to closing the corporation?
I know that I have to notify state - found dissolution of corporation on sunbiz.org. I have filed the final 941 and final state unemployment and marked them as final. I can't file the final 940 until January when the forms are available, correct?
When do I file the final Form 1120S? Does it have to be done before the end of the year? I found a Form 966, Corporate Dissolution or Liquidation. That says it has to be filed within 30 days.
What about the S status? Is there anything I do about that?
What about the assets of the business? most were purchased 5 or 6 years ago. Only a computer and monitor purchased in 2015. These were expensed. They will become personal use property. If he decides to do any work in the future, it will just be as a consultant and he would use the computer for that at that point.
I am sure there are some things that I am missing. Please let me know so I can do this correctly.

Thank you.

Linda F