I own a seasonal business that did not end up doing any business in 2014. I would like to dissolve the business at this point. Do I have to wait until February and file a 2014 return as "final," or can I just file an amended 2013 return now and mark it "final" (everything else the same)? The business is an S corporation with no employees or shareholders other than myself.

Thanks!

When you terminate an S corp, you must file a request to dissolve with the state in which thebiz was incorporated. The state will verify that the corp does not owe any state taxes . Once you receive the state's approval, you may file your final tax return wth the IRS.You must prepare and file a final S-corp income tax return and Mark the "Final Return" box at the top of each return. Marking the "Final Return" box tells the IRS you are closing the S-corporation.you can use the old s-corp entity if you plan to continue business with it by filing an amended Form 1120S return to change the final box on your prior return. However, this is not required and can be burdensome

Thanks Wnhough, but how does the state verify that I do not owe taxes if I haven't filed a final return yet?