This content has been marked as final. Show 5 replies
C corporation tax liability in california
YES, being the president of the company, You could be financially responsible for the tax liability.
Do you have a Lawyer??, an Accountant??
I do not have a lawyer or an Accountant. Is there some way I can dissolve the corporation and avoid being responsible for the tax and have the debt considered to be just another debt of a failed business?
You need to file one of both of these forms to dissolve the corporation (the first form explains):
I don't think that makes your tax liability disappear, however (it wouldn't in most states).
C corporation tax liability in california1 of 1 people found this helpful
Yes, Do you have an accountant?? A Lawyer??
1 of 1 people found this helpful
Corporations have fairly rigid guidelines for operations. I'm not positive about CA, but most state laws are worded such that failure to do anything that is required by the Secretary of State leaves the officers and stockholders of a corporation vulnerable to personal action and responsible for tax liabilities and corporate debts. I hope you can get this resolved quickly. Good luck.
Go to original post
Reply to original post
i currently own/owned a C corporation in california at which annually we have to pay a 800 tax. unfornutaley we were in the housing market and our company was no longer able to sustain itself. to make a long story short we have lost a lot and have since then gone out of business. it has been a couple of years and our corporation hasnt been dissolved, officially, through the secretary of state. I was wondering if this could make "me" ,being the president of the company, financially responsible for the tax liability?