What is the name of your state?State: NY (NYC)
=============
My sisters and I inherited a commercial property in NYC after our mother passed away. The deed is held by my mother's corporation (which was registered in 1995 and she was 100% shareholder), but the corporation was dissolved in 1999 by NYC due to non-filing of taxes. The property didn't generate income, it was simply held and used as her personal office. She did maintain a bank account after the corporation was dissolved, but the balance was kept below $1000.
My sisters and I are beneficiaries of the estate and would like to gain ownership of the property. Will we have to file back taxes for the years the corporation was inactive? Is there another way to legally acquire the deed for the building? We were thinking of starting our own corporation so that we can start fresh for IRS filings.
Thanks for any advice.
Sara
=============
My sisters and I inherited a commercial property in NYC after our mother passed away. The deed is held by my mother's corporation (which was registered in 1995 and she was 100% shareholder), but the corporation was dissolved in 1999 by NYC due to non-filing of taxes. The property didn't generate income, it was simply held and used as her personal office. She did maintain a bank account after the corporation was dissolved, but the balance was kept below $1000.
My sisters and I are beneficiaries of the estate and would like to gain ownership of the property. Will we have to file back taxes for the years the corporation was inactive? Is there another way to legally acquire the deed for the building? We were thinking of starting our own corporation so that we can start fresh for IRS filings.
Thanks for any advice.
Sara