Settle your financial obligations and open the door to fresh opportunities
Expertly tailored financial services for startups, foreign founders, and growing businesses. Stay compliant, efficient, and financially secure.
Close Your Business the Right Way
Shutting down a company is never easy—it often follows a challenging entrepreneurial journey that can be financially, emotionally, and physically exhausting.
Properly closing your business now can help you avoid unnecessary tax liabilities, reduce personal risk, and settle outstanding debts, preventing future complications.
Don’t let the past hold you back from new opportunities. Let NexusWorks handle your corporate dissolution, so you can move forward with confidence.
No Need To Be the Middleman
Say goodbye to the endless hours spent shuttling information between your accountant and bookkeeper.
Corporate Dissolution Tax Package
Company Expenses
$0 to $5k Revenue
$849
Federal Tax Return Includes all forms in our Corporation or LLCs package
- Extension Filing
- State Tax Filing
- Form 966
- EIN Cancellation
- Form 982
Company Expenses
$5 to $250 Revenue
$1,249
Federal Tax Return Includes all forms in our Corporation or LLCs package
- Extension Filing
- State Tax Filing
- Form 966
- EIN Cancellation
- Form 982
Company Expenses
$250 to $1m Revenue
$1,749
Federal Tax Return Includes all forms in our Corporation or LLCs package
- Extension Filing
- State Tax Filing
- Form 966
- EIN Cancellation
- Form 982
Company Expenses
$1m+ Revenue
Custom
Federal Tax Return Includes all forms in our Corporation or LLCs package
- Extension Filing
- State Tax Filing
- Form 966
- EIN Cancellation
- Form 982
Frequently Asked Question
These FAQs provide a balanced overview of company
services and approaches.
What is a final tax return?
A final tax return is the last tax filing submitted by a business entity to report income, expenses, and other tax-related information up to the date of its closure or dissolution. This ensures that all tax obligations are settled, and the entity’s tax records are closed appropriately.
Are there state-specific requirements for dissolving a business?
Yes, each state has its own procedures and requirements for dissolving a business, which may include filing specific forms, paying outstanding fees or taxes, and obtaining a certificate of dissolution. It’s crucial to consult the relevant state authority or a legal professional to ensure compliance with all state-specific obligations.
How do I cancel my Employer Identification Number (EIN)?
To cancel your EIN, send a letter to the IRS that includes the complete legal name of the entity, the EIN, the business address, and the reason for the cancellation request. This step ensures that the IRS updates its records to reflect the closure of your business.
How can Nexusworks assist with the corporate dissolution process?
We offers comprehensive services to facilitate a smooth and compliant business closure, including:
- Preparation and filing of final federal and state tax returns.
- Completion and submission of Form 966.
- Assistance with EIN cancellation.
- Preparation of Form 982 for discharge of indebtedness, if applicable. Engaging Cleer Tax ensures that all tax-related aspects of your business dissolution are handled professionally, allowing you to move forward without lingering tax concerns.
When is the final tax return due after dissolving a company?
The due date for a final tax return varies depending on the entity type and jurisdiction. Generally, it is due by the 15th day of the fourth month following the date of dissolution. For example, if a corporation dissolves on June 15, the final tax return would typically be due by October 15 of the same year.
What forms are required to dissolve a corporation or LLC?
The specific forms required can vary by jurisdiction, but commonly include:
- Form 966: Used by corporations to report their dissolution or liquidation to the IRS.
- Final Federal and State Tax Returns: To report income and expenses up to the dissolution date.
- EIN Cancellation Letter: To cancel the Employer Identification Number assigned to the business.
- Form 982: Used to report the discharge of indebtedness, if applicable.
