Dormant Nevada S-Corp: What is the best to do? Hi Tax Guru!!
I have a single owner S-Corp registered in Nevada since March 2009. My business have been dormant since then (3 years now). I have paid my Nevada Secretary of State fees (Annual List Filling + Business License) every year, but as I didn't make any money neither spend money from my business, I never filled federal corporate taxes yet.
I expect my business to become active in few months. So my question is: Will I have to pay penalties for those years without filling income tax (even if my business was inactive)? And, if it's the case, will it be more simple and save me money to just dissolve this business and start a new one?
In other words, is there any legal consequences for a dormant S-Corp that had not filled taxes for 3 years in a row and than become active?
Thank you |