Business Status Forfeited In New York

State:
Multi-State
Control #:
US-0046-CR
Format:
Word; 
Rich Text
Instant download

Description

The document is a Resolution Form used by corporations to elect S Corporation status in New York. This form is particularly significant for businesses that have forfeited their good standing status and are seeking to reestablish compliance with state regulations. The form outlines the authority of corporate officers to take necessary actions, including executing documents and certificates relevant to this election. Key features include specific declarations regarding the election of S Corporation treatment, and the ratification of previous actions taken by the officers. Filling out the form involves inserting the corporation's name and the date of the resolution adoption. It is essential that the resolution is signed by the corporation's directors and the Secretary to ensure its validity. This form is beneficial for attorneys, partners, owners, associates, paralegals, and legal assistants as it facilitates the reinstatement of corporate status and compliance with IRS requirements. Additionally, understanding this form aids in advising clients on the tax implications and benefits associated with S Corporation status.
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  • Preview Obtain S Corporation Status - Corporate Resolutions Forms
  • Preview Obtain S Corporation Status - Corporate Resolutions Forms

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FAQ

How to Apply: To start the reinstatement process, call the Tax Department's Corporate Dissolution Unit at 518-485-2639. File any outstanding returns and include payment for any taxes due, whether current or delinquent. Obtain a Written Consent from the Tax Department after all delinquencies have been cured.

New York State Division of Corporations: The official website ( ) provides access to the LLC lookup tool along with a wealth of information about business regulations and requirements in New York. Business Entity Search Database: This online database offers real-time access to LLC information.

New York requires every LLC to file a Biennial Statement every two years with the New York Department of State (DOS). You can file your statement online using the DOS's e-Statement Filing System. In the statement, you'll need to provide the name and address of the LLC's registered agent.

Dissolving Your LLC in New York Step 1: Vote to dissolve the LLC. Step 2: Wind up all business affairs and handle any other business matters. Step 3: Settle debts and assets with creditors. Step 4: Notify tax agencies and settle remaining taxes.

How to Apply: To start the reinstatement process, call the Tax Department's Corporate Dissolution Unit at 518-485-2639. File any outstanding returns and include payment for any taxes due, whether current or delinquent. Obtain a Written Consent from the Tax Department after all delinquencies have been cured.

How long does it take to dissolve an LLC in New York? In normal circumstances, allow approximately 14 days from the date you send your documents to the Department of State to dissolve a New York LLC, which is after you receive tax clearance from the Department of Taxation and Finance, which itself may take two weeks.

Dissolving Your LLC in New York Step 1: Vote to dissolve the LLC. Step 2: Wind up all business affairs and handle any other business matters. Step 3: Settle debts and assets with creditors. Step 4: Notify tax agencies and settle remaining taxes.

Similarly, dissolving an LLC entails a process. Step 1: Decide to close your business. Step 2: Notify creditors and settle debts. Step 3: File final tax returns and get tax clearance. Step 4: Notify licensing authorities. Step 5: File dissolution papers. Step 6: Close business bank account. Step 7: Distribute remaining assets.

6 Steps to Dissolving an LLC in New York Step 1: Vote to Dissolve the LLC. Step 2: Notify Creditors About Your LLC's Dissolution. Step 3: File Final Tax Returns and Obtain Tax Clearance. Step 4: File Articles or Certificate of Dissolution. Step 5: Distribute Assets. Step 6: Close All Accounts and Cancel Licenses and Permits.

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Business Status Forfeited In New York