Devoted to Corporate Attorneys, Corporate Lawyers, and Corporate Counsel

The following is not meant to be legal advice.

What is California Form 3555?  In the past, it meant a reporting of the assumption of tax liability/request for tax clearance.  It was a form to be completed when a corporation dissolved.

The form had to indicate the date business ceased, latest income period for when a California tax return was filed, date assets for the corporation transferred to another entity, title and name of officer who signed the tax and dissolution documents.

Along with Form 3555, the dissolving corporation filled out IRS Form 966.  Form 966 dealt with corporate dissolution or liquidation.  The form had to indicate the employer ID number, the type of federal tax returns filed for the corporation such as IRS Form 1120, 1120-IC-DISC, 1120-L, 1120S.

The dissolving corporation also had to request a dissolution approval letter from the Attorney General’s Office.  To do so, the corporation needed its articles of incorporation.  In the letter to the Attorney General’s Office, the corporation writes that it resolves to dissolve and the date of dissolution.  It provides explanations on dissolution such as not be in operation for several years, not having any customers.  It provides a listing of its corporate assets.