Jack

[Black Bart]

About that form 966 you mentioned to Zee Saturday -- does that have to be filed for an S-corp too? If not, then is there anything else (other than the state dissolution papers) required for an S? Thanks.

[S T]

No I am not Old Jack

Hi BB,

Here is the link to the form 966 and instructions [http://www.irs.gov/pub/irs-pdf/f966.pdf[/url]

I also am including an IRS checklist http://www.irs.gov/businesses/small/...=98703,00.html

Doesn't seem like it applies to "qualified" S Corps as long as they were not a "C" Corp prior. I think just your State dissoultion papers and clearance with the Secretary of State and the Tax Dept is all that is needed.

Maybe "google" Dissolution S Corp and the State. I know Calif has regulations to follow.

Sandy

[Black Bart]

Hi Sandy,

Hi BB,


Doesn't seem like it applies to "qualified" S Corps


Sandy

Yeah, I saw that line about "qualified," but I wasn't sure from the wording if that meant it applied only to S Corps that were subsidiaries of charitable organizations or something of the sort. Thanks for responding though.

[rosieea]

I believe the instructions exclude QUALIFIED SUBCHAPTER S SUBSIDIARIES. Most S Corporations must file Form 966.

[OldJack]

I believe rosieea is correct that a S-corp should also file form 966. Filing is for the corporation/shareholder benefit to insure capital gains on liquidation as well as notifying the IRS. However, many corporations liquidate, don't know to file the form, and have no problems from the IRS.