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K&D Resource Areas
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NJ Corporate Dissolutions Required James B. Evans, Jr., JD, LLM, CPA It is essential that the corporation be dissolved with the New Jersey State Treasurer through the Division of Revenue to avoid future Corporation Business tax, penalty, and interest. Every corporation subject to the New Jersey Corporation Business Tax Act must file New Jersey Corporation Business Tax Returns whether the corporation discontinued business or distributed assets in liquidation. A corporation remains subject to at least the minimum tax ($520 in 2009) on an annual basis from its incorporation or authorization date until it legally dissolves through the New Jersey State Treasurer by the Division of Revenue. The failure to dissolve the corporation when the corporation has ceased doing business will result in the legal requirement to continue to file Corporation Business Tax returns with the necessary remittance of the minimum CBT tax.
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