Home: Message List - Responsilbility for taxes after statutory merger

Re: Responsilbility for taxes after statutory merger

dublincpa — Thu, 26 Feb 2009 18:13:08 GMT

Email me with details and I will help walk you through it.

Re: Responsilbility for taxes after statutory merger

mirror_nyc — Thu, 26 Feb 2009 15:42:25 GMT

LUCKIEST, would you like to provide any inputs ?

Re: Responsilbility for taxes after statutory merger

mirror_nyc — Tue, 24 Feb 2009 20:56:51 GMT

My name is Rajiv.

Thanks in advance for your help.

Re: Responsilbility for taxes after statutory merger

LUCKIEST — Tue, 24 Feb 2009 20:28:48 GMT

Responsibility for taxes

Who are you?? Even a first name?? Go to Members page and share some info

Then I will share some answers. LUCKIEST

Responsilbility for taxes after statutory merger

mirror_nyc — Tue, 24 Feb 2009 20:25:32 GMT

A single member LLC (filing schedule C for taxes) was merged into a C-corp in November 2008 in New Jersey (section 368 - type A) . The LLC ceased to exist and the C-Corp was the surviving entity. The C-Corp assumed 100% of the assets and liabilites of the single member LLC. The LLC had only a cash balance as an asset. The LLC and the C-Corp are in the same line of business.

Any ideas on...

Q1 - Whether the 2008 income and expenses for the LLC (from Jan 2008 to November 2008) can be reported entirely thru the C-Corp ?
Q2 - Does the owner of the LLC need to file any tax returns (the LLC was NOT closed BUT merged ) ?

Does the corporation law states that the merger has to be between the entities of the "same type" (e.g. C-corp to C-corp) ??

thank you for any insights...