The Ftb 1038 form is a document that is used to report the and income of a business. This form is typically filed by taxpayers who are self-employed, and it helps to ensure that the correct amount of taxes are paid on the income earned. There are specific instructions that must be followed in order to fill out this form correctly, so it is important to consult with a tax professional if you have any questions. Filing this form incorrectly can result in penalties and fines, so it is important to take care when completing it. Once the form is filled out correctly, it can be submitted to the IRS for review.
| Question | Answer |
|---|---|
| Form Name | Ftb 1038 Form |
| Form Length | 2 pages |
| Fillable? | No |
| Fillable fields | 0 |
| Avg. time to fill out | 30 sec |
| Other names | ftb publication 1038, ftb form 1038, ftb 1038, 1038 tax form |
STATE OF CALIFORNIA
FRANCHISE TAX BOARD
FTB Publication 1038
Guide to Dissolve,
Surrender, or
Cancel a
California
Business Entity
General Information
Effective September 29, 2006, a tax clearance certiicate is no longer required for the following entity types who intend to dissolve, surrender, or cancel their California business entity:
•Corporations
•Limited liability companies (LLCs)
•Limited liability partnerships (LLPs)
•Limited partnerships (LPs)
•Certain exempt organizations
•Nonproit corporations
Your entity may avoid the minimum franchise or annual tax for current and subsequent taxable years if you meet all of the following requirements:
•Timely ile your inal franchise or annual tax return, including extension, for the preceding taxable year.
•Conduct no business after the last day of the preceding taxable year.
•File the appropriate documents with the California Secretary of State (SOS) within 12 months of the iling date of your inal tax return.
All tax returns remain subject to audit until expiration of the normal statute of limitations. For suspended or forfeited corporations, see SIDE 2.
Forms to File with the California Secretary of State (SOS)
Domestic Stock Corporations – File one or more of the following forms:
•Certificate of Election to Wind Up and Dissolve (Form ELEC STK).
•Certificate of Dissolution (Form DISS STK).
•Short Form Certificate of Dissolution (Form DSF STK). You must meet speciic requirements to ile this form. Go to sos.ca.gov or call 916.657.5448 for more information.
Qualified Foreign and Qualified Foreign
Domestic Limited Liability Companies Organized in California – File one or more of the following forms:
•Certificate of Dissolution
•Certificate of Cancellation
•Short Form Certificate of Cancellation (LLC- 4/8). You must meet speciic requirements to ile this form. Go to sos.ca.gov or call 916.657.5448 for more information.
Foreign Limited Liability Companies – File a Limited Liability Company Certificate of Cancellation (LLC – 4/7). A foreign limited liability company is not eligible to ile the Short Form Certificate of Cancellation.
Domestic and Foreign Limited Liability Partnerships – File a Limited Liability Partnership Notice of Change of Status
Domestic and Foreign Registered Limited Liability Partnerships – File a Limited Liability Partnership Notice of Change of Status
Domestic Taxable Nonprofit Corporations and Domestic
•Certificate of Election to Wind Up and Dissolve (Form ELEC NP).
•Certificate of Dissolution (Form DISS NP).
•A Dissolution Waiver obtained from the California Ofice of the Attorney General. For information regarding the letter or approval, call 916.445.2021.
Nonqualified
FTB Pub. 1038 (REV
Suspended or Forfeited Corporations
SOS cannot accept termination documents if FTB suspended or forfeited the corporation. You must complete all of the following requirements before you submit your termination documents to SOS:
•Pay all outstanding balances due.
•File any delinquent tax returns.
•File FTB 3557 BC, Application for Certificate of Revivor, (Banks and Corporations), FTB 3557 LLC, Application for Certificate of Revivor, (LLCs), or FTB 3557 E, Application for Certificate of Revivor,
For more information regarding the revivor
Domestic Public Benefit, Religious, and Mutual Benefit Corporations
All domestic public beneit, religious, and mutual beneit corporations holding charitable assets in a trust must obtain a Dissolution Waiver from the California Ofice of the Attorney General in order to complete their dissolution. Refer to the California Ofice of the Attorney General’s publication, General Guide for Dissolving a California Nonprofit Corporation at ag.ca.gov for more information. The Dissolution Waiver must be filed with SOS along with the other required documents.
Domestic or Foreign Nonprofit
The law requires
FTB offers telephone assistance for
Forms and Publications
Get FTB forms and publications at ftb.ca.gov or SOS forms at sos.ca.gov. To get California Ofice of the Attorney General forms, call 916.445.2021.
Internet and Telephone Assistance
Website: ftb.ca.gov
Telephone: 800.852.5711 from within the United States 916.845.6500 from outside the United States
TTY/TDD: 800.822.6268 for persons with hearing or speech impairments
Asistencia Por Internet y Teléfono
Sitio web: ftb.ca.gov
Teléfono: 800.852.5711 dentro de los Estados Unidos 916.845.6500 fuera de los Estados Unidos
TTY/TDD: 800.822.6268 para personas con discapacidades auditivas y del habla
FTB Pub. 1038 (REV