TaxGuru,
I Formed an S-Corp in NYC back in 2004 and i have recently received a notice of estimated deficiency for an amount i can not possibly cover. I was informed by NY taxation and Finances to file my back taxes, pay the taxes and fines, then dissolve the company. My question is, since my company has never made any profit (i actually lost money), and has basically been inactive since its inception, do i still owe the full amount? I am the co owner and have no shareholders. I was later told by the NYS Dissolution Unit that i also had the option of not doing anything and letting NYS dissolve the company on its own, absolving me from personally owing any money. My last question is, is this true? Any help would be greatly appreciated.

Thanking You In Advance, JJ11x