S Corp Address

[Questionguy101]

An S-corp has been out of business in 2007 and the sole owner has moved to another state. Now the sole owner has to file the 2007 Form 1120-S which is also the final one. Which address should the sole owner use on the Form 1120-S? The former business address of the S-corp or his current mailing address?

I think it makes more sense to put his current mailing address on the form so he can receive the correspondence from the IRS. But, on the other hand, his current mailing address is not the address of the S-corp so I don't know if it's appropriated to use it on the Form 1120-S.

[Bees Knees]

You always use the current mailing address for all tax forms. The location of the business is irrelevant.

[ED SMITH]

Normally you would use the current address, but I would make an exception if the client moved to California. CA has a $800 franchise fee required of corps and LLC's. The CA FTB would pick up on the federal filing and be demanding that a 100S be filed along with the $800 fee. They are very aggressive.

[S T]

Calif

Ed is right on this.

Doesn't matter if you are an S Corp or an individual, if you are moving from Calif, make sure all of the investment records, pensions, etc have another address.

If you are moving to Calif, be aware that you will be targeted by Franchise Tax Board for filing a return, or will at least have to make numerous explanations as to why you shouldn't be filing a return.

I had 2 retired teachers, that migrated and left to Nevada, and for 3 years, they were "hounded" by FTB as to why they were not filing a return. We finally found out that even though their retirement from Ca STRS address was changed, their investment accounts had not changed addresses, so they kept "popping up" on the FTB as owing a return and possible tax.

Calif is relentless in trying to collect any and all tax!

Sandy