Legal Question in Business Law in Minnesota
Active c- corp
The C-corp I formed 10 years ago is not appropriate for what I am doing now but chose to keep it active by filing a -0- return each year. Would there be any advantages to just keep doing what I am doing now (Legally active but nonfunctional) or should I just shut it down? Thanks.
Asked on 12/22/08, 2:43 pm
1 Answer from Attorneys
David Anderson
Anderson Business Law LLC
Re: Active c- corp
If you are generating Taxable income- you immediately convert to sub S corp (perhaps LLC).
What is your current business?
Answered on 12/22/08, 2:53 pm
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