Corporate Tax Clearance

One of the many services we perform is the
preparation of prior year corporate tax returns,
federal, state and City to enable either the
dissolution of delinquent corporations or the
clearance by Albany of open tax periods.

Our normal fee for the preparation of inactive prior
year tax returns is $250.00- $500.00 per year. In
the event that the corporation was 'active', i.e. it
had transactions, our fee will be based upon an
hourly rate.

In order to prepare inactive tax returns we require
the following information:

1) Exact name of the corporation.

2) Address to be used on the corporate tax
returns.

3) Federal ID number for the corporation.

4) Whether the corporation is a subchapter S
corporation or a C corporation.

5) The name, address and SS# of each
shareholder and the % owned by each.

6) The periods for which tax returns are necessary
to be prepared.

7) Whether Federal, State or City tax returns are
required.

8) In the case of inactive corporations, what
assets and liabilities the corporation had. (In NY
the tax is lower for corporations that have at least
$1,000.00 in assets).

Interest and penalties are not calculated by this
office, same will be assessed at the time of filing.
The returns are prepared and are sent ready to file
listing the basic taxes due. There is no minimum
federal tax, for NYS the tax is approximately
$325.00 per year with an additional $$55.00 per
year due for C Corporations. The minimum NYC tax
is $300.00 for corporations active in NYC.

Our normal turn-around time is less than one week.
Payment is paid 50% upon order and the balance
upon delivery to the attorney ordering the work.
The attorney must agree to be responsible for the
balance of the fee unless paid in full at time of
engagement.