Why Irs Form 966 Certified Copy Resolution 2016-2023

Instructions and Help about Why Irs Form 966 Certified Copy Resolution

Hi I'm Jeff Lovell a staff accountant with a a accounting and today we're going to talk about how to dissolve a corporation there are three main types of corporate dissolutions voluntary administrative and judicial this video is going to focus on voluntary disillusions by the shareholders shareholders can voluntarily dissolve the corporation by authorizing the disillusion filing a certificate or article of disillusion with the state Secretary of State's office filing IRS Form 966 and then winding down operations to authorize the dissolution a meeting of the board of directors is held at least two-thirds of the shareholders must vote in favor of the motion to dissolve the corporation the vote is recorded in the meeting minutes and a formal resolution is drafted for smaller corporations this entire process could be done in an attorney's office once the formal resolution is adopted it is written up and signed by both a corporate officer and by a representative of the shareholders which is then submitted along with an article of dissolution to the Secretary of State's office a copy of the Illinois version of this form is on the screen for a sample company called money pit on the screen here you have an example of the second page filled in for the same company and here you have a copy of IRS Form 966 filled in for that same company along with the IRS form a certified copy of the resolution of the corporate dissolution is sent or a plan for the liquidation of the corporation once these forms are filed the corporation can wind down its operations it should notify various state offices such as the Department of Revenue or the employment office and file any final tax returns by checking the box indicating it's the final return...