S Corporation in Georgia in existence since November 1991 acting as property owner/management/apartment rental business. We have filed all tax returns, etc. each year with both State and Federal agencies. We owner financed the sale of all property in 2005 with final payoff realized in 2009. We wish to dissolve the S Corporation but have been informed by our CPA that there may be a tax consequence as a result of the gifting of properties to various charities (3 times) during our years of operation. We have no intention of getting back into the rental business, and the last "income" would have been the payoff received in August of 2009. Currently, we pay a CPA annually to prepare our return and the State of Georgia an Annual Registration Fee, as well as a Net Worth Fee. Our CPA is very busy this time of year (like all others) and has asked us to wait until after April 15th so that he can research the "quirkiness" of dissolving and any tax consequence we might incur. We are paying somewhere in the neighborhood of $800-$900 per year just to have the S Corp. sit in what will be a non-active state going forward. I have visited the State of Georgia Secretary of State web site and have all instructions for dissolving. My question for you is this: Do you have any information regarding the tax liability of dissolving a GA. S Corp. that has previously gifted property?