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 By this time, corp was revoked and they asked me to reinstate and then dissolve.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