The California 3555 form is a document used to request a tax clearance certificate for corporations in California. This certificate confirms that all taxes have been paid or secured, allowing for the proper dissolution or transfer of business assets. It is essential for corporations to complete this form accurately to ensure compliance with state tax regulations.
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The California 3555 form, also known as the Request for Tax Clearance, serves as a crucial document for corporations seeking to dissolve or surrender their business status in California. This form requires essential information about the corporation, including its name, California corporation number, and federal employer identification number. It also asks for details regarding the business's operational timeline, such as the dates it commenced and ceased operations. To receive a tax clearance certificate, the corporation must demonstrate that all taxes have been paid or secured. The form also includes sections that address any ongoing IRS activities, such as audits or examinations, which could affect the corporation's tax obligations. Additionally, it provides specific instructions for individuals or entities assuming tax liability, ensuring that all responsible parties understand their obligations. The California Franchise Tax Board reviews this form to confirm compliance with tax laws before issuing the necessary clearance certificate. Accurate completion of this form is essential, as it not only facilitates the dissolution process but also safeguards against potential future tax liabilities.
Request for Tax Clearance
CALIFORNIA FORM
3 5 5 5
Certificate — Corporations
Corporation name
California corporation number
Current address
Phone number
Federal employer identification number
(
)
Date business commenced
Date business ceased or will
Latest income period for which a
Date filed:
in California:
cease in California:
California tax return has been filed:
We will issue a tax clearance certificate when all taxes have been paid or secured. All returns remain subject to audit until expiration of the normal statutes of limitation.
Please indicate the status of ANY IRS activity:
Has the IRS redetermined the corporation’s income tax
Is the IRS or the FTB currently examining the corporation
liability for any prior years that you have not previously
or has it notified the corporation of a pending examination?
reported to us? ❏ Yes ❏ No
❏ Yes ❏ No If yes, indicate the years involved:
If yes, send us a copy of the Revenue Agent’s Report.
Current examination:
__________________________
Pending examination:
Complete pages 2 and 3 of this form for an individual or other entity assumption of tax liability. Complete page 4 for a corporation, limited liability company, or limited liability partnership assumption of tax liability.
If we are to issue the tax clearance certificate on a taxes paid basis, please check this box and provide a copy of your final tax return. ❏
Supplemental Information. Please furnish the following information if another corporation will continue to conduct the business in California after the merger of the original corporation.
Name of transferee
California corporation number of transferee
Date assets transferred to transferee
Section of the Internal Revenue Code applicable to the transfer of
taxpayer’s business or assets: ______________
If we are to mail the tax clearance certificate to somewhere other than the corporation listed above, please complete the following: (We will send a copy of the tax clearance certificate to the Secretary of State.)
Name
Address
Phone number (
Mail completed form to: DOCUMENT FILING SUPPORT UNIT
SECRETARY OF STATE – BUSINESS FILINGS 1500 11TH STREET
SACRAMENTO CA 95814
For more information concerning this form, telephone the Franchise Tax Board at (916) 845-4124.
Assistance for persons with disabilities: We comply with the Americans with Disabilities Act. Persons with hearing or
speech impairments, call: from voice phone (800) 735-2922, or from TTY/TDD (800) 822-6268.
FTB 3555 C1 (REV 09-2001) PAGE 1
Please complete Section A or B below.
A. INDIVIDUAL ASSUMPTION OF TAX LIABILITY
( )
I unconditionally agree to file or cause to be filed with the Franchise Tax Board, under the provisions of the Bank and Corporation Tax Law, all tax returns and data required and to pay in full all accrued or accruing tax liabilities, penalties, interest, and fees due from the above named corporation at the effective date of dissolution or surrender.
My net worth (assets minus liabilities) is not less than: $ _____________________ .
(We require a detailed financial statement [PAGE 3].)
Name of individual assumer (print)
Social security number
Date
Signature
B. TRUST ASSUMPTION OF TAX LIABILITY
This trust unconditionally agrees to file or cause to be filed with the Franchise Tax Board, under the provisions of the Bank and Corporation Tax Law, all tax returns and data required and to pay in full all accrued or accruing tax liabilities, penalties, interest, and fees due from the above named corporation at the effective date of dissolution or surrender:
Name of trust
Trust federal identification number
Trustee’s name (print)
Trustee’s signature
FOR PRIVACY ACT NOTICE, SEE FORM FTB 1131.
FTB 3555 C1 (REV 09-2001) PAGE 2
FINANCIAL STATEMENT FOR INDIVIDUAL OR OTHER ENTITY
Corporation number
Statement of Assets and Liabilities
Item
Present
Liabilities
Equity in
value (A)
balance due (B)
asset
Cash
Bank accounts
Stocks and bonds
Cash or loan value of insurance
Household furniture
Real property
Vehicles
Other assets (describe)
Federal taxes outstanding
Loans
Other (include judgements)
Net assets
(Total column A less total column B)
$
General Information (Please attach additional schedules if necessary.)
Net annual income
Source (name of business or employer)
Banks and savings and loan accounts (names and addresses)
Description and license number of each vehicle
Stocks and bonds (name of company, number of shares, etc.)
Real property (brief descriptions and locations)
I certify that the information above is correct to the best of my knowledge.
Assumer’s name (print) _____________________________________________________________________________________________________
Assumer’s address
____________________________________________________________ Phone number (
_______________________
Assumer’s signature
__________________________________________________________________________
FTB 3555 C1 (REV 09-2001) PAGE 3
CORPORATION, LIMITED LIABILITY COMPANY, OR LIMITED LIABILITY PARTNERSHIP ASSUMPTION OF TAX LIABILITY
The Assumption of Tax Liability
of (1) __________________________________________________________ )
A corporation
) ________________________
California Corporation number, Secretary of
State file number, or federal employer
by (2) _________________________________________________________ )
identification number
A corporation, limited liability company, or limited liability partnership
(Name of assumer) __________________________________________________ unconditionally
agrees to file with the Franchise Tax Board all tax returns and data required and pay in full all tax liabilities, penalties, interest and fees of (1) _________________________________________
_________________________________________________________________________________; at the
effective date of dissolution or surrender of the corporation.
(2) _________________________________________
Exact corporation, limited liability company, or limited liability partnership name
_______________________________________
_________________________________________
Printed name and title of officer/manager/partner/member
Signature and title of officer/manager/partner/member
State of _______________________________
County of _____________________________
On ________________________________________ before me, the undersigned, a notary public in and for
said state, personally appeared _______________________________________________________________
_______________________________________________________________________________________
personally known to me (or proved to me on the basis of satisfactory evidence) to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the entity upon behalf of which the person(s) acted, executed the instrument.
WITNESS my hand and official seal.
Signature ________________________________________________________
Name __________________________________________________________
(typed or printed)
Note: LLC, LLP, and corporation assumers must provide a financial statement.
FTB 3555 C1 (REV 09-2001) PAGE 4
Filling out the California 3555 form is an important step in securing a tax clearance certificate for a corporation. This certificate confirms that all taxes have been paid or secured. Here are the steps to complete the form accurately.
What is the California 3555 form?
The California 3555 form, also known as the Request for Tax Clearance, is used by corporations to obtain a tax clearance certificate from the Franchise Tax Board (FTB). This certificate confirms that all taxes have been paid or secured, allowing for the dissolution or surrender of a corporation in California.
Who needs to fill out the California 3555 form?
Any corporation in California that is looking to dissolve or surrender its business must complete the California 3555 form. This includes corporations, limited liability companies, and limited liability partnerships that want to ensure all tax liabilities are settled before ceasing operations.
What information is required on the form?
The form requires basic information about the corporation, such as its name, California corporation number, current address, phone number, and federal employer identification number. Additionally, it asks for details about the business’s tax history, including dates of commencement and cessation, and the latest income period for which a tax return has been filed.
What happens after I submit the California 3555 form?
Once you submit the form, the FTB will review it. If all taxes are paid or secured, they will issue a tax clearance certificate. Keep in mind that all returns are subject to audit until the normal statutes of limitation expire.
What should I do if the IRS is currently examining my corporation?
If the IRS is examining your corporation or has notified you of a pending examination, you must indicate this on the form. You should also provide details about the years involved and submit a copy of the Revenue Agent’s Report if applicable.
Can another corporation assume the tax liabilities of the dissolving corporation?
Yes, another corporation can assume the tax liabilities. The form includes sections for both individual and trust assumptions of tax liability, allowing the new entity to take responsibility for any outstanding taxes of the dissolving corporation.
What if I need the tax clearance certificate mailed to a different address?
If you want the tax clearance certificate sent to a different address than the corporation’s, you must provide that information on the form. The FTB will also send a copy to the Secretary of State as required.
Is there assistance available for individuals with disabilities when filling out the form?
Yes, the FTB complies with the Americans with Disabilities Act. For assistance, individuals with hearing or speech impairments can call specific numbers provided by the FTB for support.
Where do I send the completed California 3555 form?
You should mail the completed form to the Document Filing Support Unit at the Secretary of State’s office in Sacramento. The address is: 1500 11th Street, Sacramento, CA 95814.
Filling out the California Form 3555 can be challenging, and mistakes can delay the processing of a tax clearance certificate. One common error is failing to provide the correct corporation name and California corporation number. These details must match the official records to avoid confusion. If the information does not align, it may lead to unnecessary complications or rejection of the form.
Another frequent mistake involves not indicating the status of IRS activity. The form requires information on whether the IRS has redetermined the corporation’s income tax or is currently examining any prior years. Omitting this information can raise red flags and prolong the review process. It is crucial to answer these questions accurately to ensure a smooth submission.
Many individuals also overlook the requirement for a detailed financial statement. This statement is necessary for both individual and trust assumptions of tax liability. Without it, the Franchise Tax Board may not process the form. Providing a comprehensive financial overview helps establish the ability to pay any outstanding liabilities.
Lastly, failing to check the appropriate box regarding the tax clearance certificate can lead to confusion. If the certificate is to be issued on a taxes paid basis, this must be clearly indicated. Additionally, if the certificate is to be mailed to a different address, that information should be filled out completely. Neglecting these details can result in delays in receiving the necessary documentation.
The California 3555 form, known as the Request for Tax Clearance, is a critical document for corporations seeking to dissolve or surrender their status in California. Alongside this form, several other documents are often required to ensure compliance with state tax obligations. Below is a list of these documents, each serving a specific purpose in the tax clearance process.
Understanding these accompanying documents is vital for corporations navigating the dissolution process in California. Each document plays a role in ensuring that all tax obligations are fulfilled, thereby facilitating a smoother transition for the business and its stakeholders.
The California Form 3555 is a request for a tax clearance certificate, often required when a corporation is dissolving or transferring its business. This form shares similarities with several other documents related to tax liabilities and business operations. Below are four documents that are comparable to the California 3555 form, along with explanations of their similarities:
When filling out the California 3555 form, it is essential to follow specific guidelines to ensure accuracy and compliance. Here are four important dos and don'ts:
Misconceptions about the California 3555 form can lead to confusion for individuals and businesses alike. Understanding these common misunderstandings is crucial for ensuring compliance and making informed decisions. Below are five misconceptions explained in detail.
Understanding these misconceptions can help individuals and businesses navigate the complexities of the California 3555 form more effectively. It is always wise to seek assistance if there are uncertainties regarding the process or requirements.
Filling out the California 3555 form is an important step in obtaining a tax clearance certificate for corporations. Here are key takeaways to consider: