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My Client has an online book business with an online store…

My Client has an...

My Client has an online book business with an online store through shopify. They registered their business as a corporation in New York in 2016. Then moved to Alabama in 2017. They operate their business from their apartment and distribute the books themselves. The failed to register their business in Alabama for 2017 how do they fix this and where do they pay their taxes Income, Local etc

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Answered in 11 minutes by:
3/15/2018
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®, CERTIFIED FINANCIAL PLANNER ®, Professional
Category: Finance
Satisfied Customers: 2,626
Experience: IRS Licensed Enrolled Agent, CDFA ® CFP ®, MBA
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My name is***** will assist you today.

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Your client will have to register their business with the state of Alabama and dissolve the corporation in NY.

To register with the state of Alabama, the taxpayer will register with the state, using the link below. You are able to pay your business privilege tax and sales tax through the online site.

https://revenue.alabama.gov/

_____

To dissolve your New York LLC, you must submit the completed Articles of Dissolution form to the New York Department of State by mail, fax or in person, along with the filing fee.

https://www.dos.ny.gov/forms/corporations/1366-f.pdf

Please let me know if this has answered your question or if you have any additional questions.

When you have no further questions a positive rating of 5 stars is much appreciated.

Thank you!

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Customer reply replied 4 months ago
What would be their dissolution date?
Customer reply replied 4 months ago
Also its a C Corporation

There dissolution date is any date that the clients choose, but can not be a previous date such as last year.

They are able to use the form in the link I provided for C Corps and LLC's

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Customer reply replied 4 months ago
Okay so they can dissolve this month and set up one for Alabama. But which state would they file their taxes for income and sales for 2017?

For 2017 they would file in NY and in Alabama if they earned any income while living in AL.

I would set up the Alabama C Corp first and then dissolve the NY C Corp. Once the proper paper work is completed, the state of Alabama will approved the C Corp generally the same day.

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Customer reply replied 4 months ago
Can they set it up as a foreign corporation in Alabama and not dissolve the NY. They may be moving back to NY in a year or 2. Would the local tax be done the same way both NY and AL?

Yes the may set up as a foreign corporation and then they would pay tax to NY and AL

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Customer reply replied 4 months ago
Okay. Looks like its better to dissolve
I agree with that opinion
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®, CERTIFIED FINANCIAL PLANNER ®, Professional
Category: Finance
Satisfied Customers: 2,626
Experience: IRS Licensed Enrolled Agent, CDFA ® CFP ®, MBA
Verified
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