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California Franchise Tax Board question My delaware

California Franchise Tax Board question My...
California Franchise Tax Board question
My delaware corporation is registered with California as a foreign corporation. We had operation in 2015 in California but no longer doing it in 2016. What should I do with my 2016 corporation tax? Do I still file it with California? Am i still subject to the $800 minimum franchise tax? What form shall i fill out to tell FTB that I no longer have operation in California but may do it again in the future years??
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Answered in 1 hour by:
2/9/2017
Lev
Lev, Tax Preparer
Category: Finance
Satisfied Customers: 33,140
Experience: Personal Investment, Tax Preparation
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A foreign corporation is a corporation incorporated or formed in another state or country.

Once a foreign corporation qualifies with the Secretary of State to do business in California it is subject to the franchise tax.

For all years after the year of registration - your corporation is subject to an annual $800 minimum franchise tax if it is doing business in the state, whether your corporation is active, inactive, operating at a loss, or filing a short period return for less than 12 months.

To terminate - your corporation must file a Certificate of Surrender (Form SURC).

Here is the form

http://bpd.cdn.sos.ca.gov/corp/pdf/foreign/corp-surc.pdf

Sorry if you expected differently.

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Customer reply replied 1 year ago
Thanks you. After filing the Certificate of Surrender, if the corproation decide to do business in California again, what procedure does it need to go through?

That woudl be the same procedure to file with the Secretary of State to do business in California

http://www.sos.ca.gov/business-programs/business-entities/faqs/#form-question7

File a Statement and Designation by Foreign Corporation (Form S&DC–S/N [for foreign general stock or nonprofit corporations], Form S&DC-PC [for foreign professional law or accountancy corporations] or Form S&DC–INS [for foreign insurer corporations) and attach to the completed form a valid certificate of good standing by an authorized public official of the foreign jurisdiction under which the foreign corporation is incorporated.

Lev
Lev, Tax Preparer
Category: Finance
Satisfied Customers: 33,140
Experience: Personal Investment, Tax Preparation
Verified
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