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Old 01-10-2011, 08:35 PM
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NYS Tax Penalties for not filing

Dear Tax Guru:

In 2007 a friend and I started our Scorp. Within a year my friend got married and relocated to GA. Due to my friends relocation, we never had the opportunity to do any business. Since we were not doing any business, I did not file any taxes. I honestly, wasn't aware I had to file since the business was not operating.

Our corporation has no bank acct, credit lines, property, loans employees etc. as we never did any business. However, I did file the quarterly sales taxes as I thought that was sufficient. October 2010, I received a letter from NYS stating that I owed taxes for 2008, 2009, 2010.

I completed to tax forms and returned them showing no income/loss. Then i received a letter stating I didn't file a CT-6 shareholder election form and therefore was not being treated as an scorp. Today I received the tax statements saying I owe a substantial amount of money in taxes and penalties as an scorp. Is there anything I can do with regards to the penalties like get them reduced/waived? Should I fill out the Ct-6?

I'm worried, can you please help me?



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Old 01-17-2011, 06:02 PM
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Any response yet?

Hello,

My story is just exactly same as yours. The only difference is - I have not yet received such letter from the government. I was wondering if you can share the penalty amount !!

Thanks



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Old 01-18-2011, 01:50 PM
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Error

Hi xyz_abc, I actully called NYS and found out that I do not owe the amount on the notice of demand. I was a default calculation for not including the # of share holders. I am currently working with NYS to correct this error and an adjusted bill will be sent to me. I hope this helps you.



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