I think you should have your CPA or Tax Professional formally dissolve your corporation as soon as possible. In California, New York and New Jersey for example, being inactive does not mean that you are not required to file a Tax Return and avoid paying the minimum franchise taxes.
If you are in New Jersey for example, you should first file a Final Year Corporation Tax Return for 2010 on the Federal Tax Return, and then file a dissolution with your State as soon as possible. Thereafter, for 2011 you should file an Inactive Tax Return only for NJ State. You would not have to file a Tax Return for the Federal in 2011!
I think you may be responsible for the prior years minimum filing taxes as well! |