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Lane
Lane, JD, CFP, MBA, CRPS
Category: Tax
Satisfied Customers: 10122
Experience:  Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
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My ex-husband and I had a business which I managed. It was

Customer Question

My ex-husband and I had a business which I managed. It was given sub-chap S
for our joint return. We were divorced and have not filed jointly since 2011. Did
the sub s die with divorce?
Submitted: 1 year ago.
Category: Tax
Expert:  Lane replied 1 year ago.
Hi,
The S-Corp is actually a tax election ... the underlying business entity could have been an LLC or a regular corporation that elected S-Corp taxation.
For TAX purposes there should have been a FINAL 1120-S (tax return for an S-Corp) done ... where the FINAL box is checked on the 1120-S.
From a state business entity law perspective the Corporation should have been dissolved with the secretary of state.
The divorce itself, although it should have dealt with property settlement of the OWNERSHIP of the entity between would not have dealt at all with the dissolution or filing the final return.
let me know if you have questions ...
Lane

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