My corporation is about to be merged into another entity and that entity will no longer do business in California. How do I know if that entity has filed all of its returns and paid its liabilities?
You can request that the entity obtain a letter of good standing from FTB. A letter of good standing is a statement that all appropriate returns and taxes have been filed and paid. However, the disappearing entity’s returns do remain subject to audit until expiration of the normal statute of limitations. The surviving corporation would be liable for any additional tax that may be assessed. Note: FTB does not issue a letter of good standing for limited partnerships, limited liability partnerships or general partnerships. However, a Certificate of Good Standing for a limited partnership or limited liability partnership may be obtained from the SOS for a fee. For further information, please call the SOS (916) 657-5448.
Related Questions
- My corporation is about to be merged into another entity and that entity will no longer do business in California. How do I know if that entity has filed all of its returns and paid its liabilities?
- My business entity (Corporation, LLC, Partnership, etc) is entirely passive and/or dormant and it is just paying a minimum tax to the Secretary of State. Is it required to get a license?
- How do I notify the department if I no longer wish to conduct business under my licensed entity, corporation, partnership, etc.?
