TaxGuru,
I opened S Corp in Dec 2005. Since then I have been filing 0$ taxes to State and Federal. I was not aware of Annual Report of Minimum CBT. When I came to know about Annual Report fee of 50$, I paid along with some fine and wanted to dissolve the corp. By this time, corp was revoked and they asked me to reinstate and then dissolve. For reinstating I already paid close to 400$. Now there is letter from Divn.of Taxation that I have to pay the minimum CBT from 2005 until 2008 (almost 2000$). I heard that for INACTIVE corps. the minimum tax is 250$. Is that correct? Is there any way I can dissolve this corp without paying the amount of 2000$? Appreciate your advise and feedback.
Regards
A frustrated "corp" owner

If the corporation has no assets, I am not sure what the state can do. In Vermont the minimum fee is waived for a corporation with no activity. Try talking to someone at the state. I have seen corporations that have gone under and the owner has never filed the final return or dissolved it. Eventually the state will get the hint the company is insolvent (a letter stating such would not hurt).

Hi vunnavahh,

Did you get a chance to contact state?I am in same boat as you.Today i received one more letter for this saying i need to pay roughly $2k.

PLease share your experience.