Closing my NY small business corporation

[Talll394]

If I do not officially close my New York corporation and just abandon all use and don't pay annual fees/taxes, will the state simply close the company?
In essence closing it for me?

I have decided not to pursue the business.

[adjusterjack]

It takes two years for the state to dissolve your corporation by proclamation. During that time you must continue to file returns and pay taxes.

The state will come after you, personally, for future taxes and fees if you don't properly dissolve your business.

I would think you would want to avoid that.

Do it right.

https://www.tax.ny.gov/bus/doingbus/tr125.htm

[Lexus]

Legally you are obliged to wind-up the corporation when you decided to permanently shut it down, but if you decide to abandon it there is no serious consequences.

[adjusterjack]

Originally Posted by Lexus

if you decide to abandon it there is no serious consequences.

Other than what the state's website says there is.

Jeez.

Usually they just let it die. No big deal.

As long s you don't have any significant income.

[Highwayman]

Originally Posted by ada77

Usually they just let it die. No big deal.

Usually? Where are you getting your stats from?

"They"? Who is "they"?

It only takes about an hour or less to close down an an inactive corp.

Why leave a ticking time bomb there when you can do it the right way.