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What should i do with a corp that never made any money?

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Egosgame

Junior Member
Last year i Created a delaware corporation because i thought i would be needing it. Well i havent done anything with it. Havent made any money and havent filed any taxes.

Ive been getting notices now that it owes about $12000 (based on the number of shares issued i think.) there is no way i can pay this so im wondering what i should do. Can i dissolve it without paying the taxes?
 


H

HomeGuru

Senior Member
Egosgame said:
Last year i Created a delaware corporation because i thought i would be needing it. Well i havent done anything with it. Havent made any money and havent filed any taxes.

Ive been getting notices now that it owes about $12000 (based on the number of shares issued i think.) there is no way i can pay this so im wondering what i should do. Can i dissolve it without paying the taxes?
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**A: why would you owe taxes if you did not make any money? Note: you did not file the required corporate IRS tax forms and got penalized.
 
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davew128

Senior Member
HomeGuru said:
**A: why would you owe taxes if you did not make any money? Note: you did not file the required corporate IRS tax forms and got penalized.
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It's not an income tax, it's an excise tax from DE for forming a corp there and its based on the number of outstanding shares. The IRS has nothing to do with it....
 
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