

How to hibernate a company - tty123

I want to hibernate my company (s-corp, delaware) for a year and revive it back; what steps can 'take? Pls give me some perspective 
Definitely will talk to cpa/attorney. Did any one do this? Appreciate sharing your exp thanks
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philiphodgen
1\. Keep filing your annual stuff in Delaware.

2\. Don't forget to keep paying your resident agent in Delaware.

3\. You undoubtedly registered your Delaware corporation in your home State
because you're doing business there. Keep up to date with the annual filings
there.

4\. Very important: keep filing tax returns. Even if you have zero income. Two
reasons. (1) It is required. Corporations file even with zero income, unlike
humans. (2) Your corporation is spending money (see items 1 - 3 above) so you
might as well make a little tax loss that you can use to shelter future
profits.

5\. Talk to your CPA about other peculiarities specific to you. E.g., sales
tax returns if you've been filing them. E.g., payroll tax returns. E.g., local
business license. In all of these cases, if you are just hibernating for a
year it is easier to keep filing stuff with zero written on it than to log out
of the system for a year then log back in.

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damoncali
I'm assuming there is no revenue...

Just let it sit for a year doing nothing. The Delaware franchise taxes are
minimal - much less than the fees and headaches you'll experience shutting
down and restarting a company. I'm not aware of any "hibernate" option.

