Hi,

I started a CO S-Corporation in 2005 with my wife and I being the 2 shareholders. I ran the Busiuness for 2 years but closed the doors in 2007. The books have basically been closed since then with the only remaining asset being a $40,000 Fanchise Purchase price which I have been amoritizing over 15-years through a section 197 intagible asset depreciation schedule. To further complicate things I have moved to UT. My questions are: Can I disolve the S-Corp and still write of the original franchise purchase for the next 10 years? Or will I need to keep my S-Corp active in CO? Or, will I need to create a new Corp in UT in order to keep the writeoff?

Any help is greatly appreciated.