Question
I registered a Corporation I'll only need in 2 Years(!) Leave open or close and register again when I need it?
Hi, I paid a lawyer $500 to register a corporation for me (reasonable amount where I live). Based on new accounting information I received, it looks like I will only use the company in 2 years(!) Should I close the company and open it again when I need one? OR should I just leave it open with no activity for 2 years in order not to pay legal fees again ($500) for registering a new company in 2 years? In other words, if I leave the company open will I have any accounting expenses in the meantime? OR since there is ZERO activity a reasonable accountant should not charge me anything in the meantime? Lastly, if I leave it open, will I have to send a tax return every year, even when company not active? THANKS.
1 month ago - 1 answers
Best Answer
Chosen by Asker
you will have only 1 specific expense; the renewal of the corp at the corporate commission--or whatever you state calls the office that files corp apps. IF you have no activities you need not file any other papers with anyone. and, while you are at it, briefly study the benefits of having a [small?] Research and Development company-division that can account for all your expenses and from which you can take accounting losses until you are earning a profit in 2 yrs. I would be tickled pink to learn what new acct data you picked up that depicts advantages to hold off or whatever for your corp. I would like to know who advised a corp vs an LLC. [it offers protection and no annual fees]
Source(s)
biz teacher
by kemperk
1 month ago
Asker's Rating: 