The California 3555 form is a request for a tax clearance certificate specifically for corporations. This certificate confirms that all taxes have been paid or secured, allowing for the proper dissolution of the corporation. It is essential to complete this form accurately to ensure compliance with state regulations.
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The California 3555 form, also known as the Request for Tax Clearance, plays a crucial role for corporations in the state. It serves as a formal request to the Franchise Tax Board (FTB) for a tax clearance certificate, which is essential when a corporation is dissolving or ceasing operations. The form requires detailed information about the corporation, including its name, California corporation number, and federal employer identification number. Additionally, it asks for the current address and phone number, as well as the dates relevant to the business's commencement and cessation. One of the key aspects of this form is the confirmation that all taxes have been paid or secured, as the FTB will only issue the tax clearance certificate under these conditions. The form also inquires about any ongoing IRS examinations or adjustments to the corporation’s income tax, ensuring that all tax liabilities are accounted for. Furthermore, it includes sections for both individual and trust assumptions of tax liability, allowing for a structured approach to handling any outstanding obligations. Completing the California 3555 form accurately is vital for a smooth dissolution process, and it ensures compliance with state tax laws.
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 a crucial step in obtaining a tax clearance certificate for your corporation. This certificate indicates that all taxes have been paid or secured. It’s important to ensure that all sections are completed accurately to avoid delays in processing. Below are the steps to guide you through the process of filling out the form.
After completing these steps, ensure you keep a copy of the filled-out form for your records. It’s also advisable to check in with the Franchise Tax Board if you have any questions or need further assistance.
The California 3555 form, also known as the Request for Tax Clearance Certificate, is used by corporations to request a tax clearance certificate from the California Franchise Tax Board (FTB). This certificate is essential for confirming that all taxes owed by the corporation have been paid or secured. It is often required when a corporation is dissolving, merging, or transferring assets to another entity.
Any corporation, limited liability company (LLC), or limited liability partnership (LLP) that is dissolving or ceasing operations in California should complete this form. Additionally, if another corporation will continue the business after a merger, the new entity may also need to provide information on this form. Individual taxpayers assuming tax liability for the corporation must also fill out the appropriate sections.
The form requires several key pieces of information, including:
Additional financial information may also be required, especially if an individual or trust is assuming tax liability.
Once the California 3555 form is submitted, the FTB will review the information provided. If all taxes have been paid or secured, the FTB will issue a tax clearance certificate. However, be aware that all returns remain subject to audit until the expiration of the normal statutes of limitation. If there are any outstanding tax liabilities, the FTB may not issue the certificate until those issues are resolved.
The completed California 3555 form should be mailed to the following address:
Ensure that you keep a copy of the form for your records before sending it in.
If you need help with the California 3555 form, you can contact the Franchise Tax Board directly at (916) 845-4124. They can provide guidance on completing the form and address any specific questions you may have. Additionally, assistance is available for individuals with disabilities through designated phone lines.
Incomplete Information: Many individuals fail to fill in all required fields. Ensure that every section is completed, including corporation name, California corporation number, and federal employer identification number.
Incorrect Dates: Providing inaccurate dates can lead to processing delays. Double-check the dates for business commencement, cessation, and the latest income period for which a tax return has been filed.
Missing Signatures: Some forget to sign the form. Ensure that the appropriate parties sign where indicated, as missing signatures can result in rejection of the application.
Failure to Report IRS Activity: Not indicating any IRS activity can cause issues. If there has been any examination or redetermination, it is crucial to disclose this information.
Incorrect Financial Statements: Submitting financial statements that are not detailed or accurate can hinder approval. Ensure that all required financial information is included and correctly presented.
Improper Mailing Instructions: Failing to specify an alternate mailing address for the tax clearance certificate can lead to complications. If the certificate needs to be sent elsewhere, provide complete and accurate mailing details.
When submitting the California 3555 form, several other documents may be required to ensure a smooth process. Each of these forms serves a specific purpose and provides essential information for tax clearance and liability assumptions. Below is a list of documents that are commonly used in conjunction with the California 3555 form.
Understanding the documents associated with the California 3555 form is crucial for ensuring compliance and expediting the tax clearance process. Each document plays a vital role in providing the necessary information to the Franchise Tax Board and should be prepared carefully to avoid delays.
The California Form 3555, Request for Tax Clearance, shares similarities with the IRS Form 4506, Request for Copy of Tax Return. Both documents are used to verify tax compliance. While Form 3555 is specific to California corporations seeking a tax clearance certificate, Form 4506 allows individuals and entities to request copies of their tax returns from the IRS. Both forms require identification information, such as a taxpayer identification number, and they serve as official requests to ensure that tax obligations have been met.
Another similar document is the California Form 592, Resident and Nonresident Withholding Statement. This form is used by payers to report withholding on payments made to nonresidents. Like Form 3555, it ensures compliance with state tax laws. Both documents require detailed information about the entity involved, including tax identification numbers and addresses. They also focus on ensuring that all tax liabilities are properly reported and settled.
The IRS Form 941, Employer's Quarterly Federal Tax Return, also resembles Form 3555. This form is used by employers to report income taxes, Social Security tax, and Medicare tax withheld from employee wages. Both forms require accurate reporting of tax obligations and can affect the issuance of clearances or certificates. They ensure that all taxes owed are accounted for, which is crucial for compliance with tax regulations.
Form 1065, U.S. Return of Partnership Income, is another document with a similar purpose. This form is used by partnerships to report their income, deductions, gains, and losses. Like Form 3555, it requires detailed financial information and ensures that all tax liabilities are reported. Both forms help maintain transparency in financial dealings and ensure that tax obligations are fulfilled.
The California Form 100, California Corporation Franchise or Income Tax Return, is directly related to the California Form 3555. Form 100 is used by corporations to report their income and calculate taxes owed. Both forms require corporations to provide identifying information and details about their financial activities. They are essential for determining tax status and compliance within the state.
Another related document is the IRS Form 1120, U.S. Corporation Income Tax Return. Similar to Form 100, this form is used by corporations to report their income, gains, losses, and deductions. Both forms require detailed financial information and are crucial for tax compliance. They ensure that corporations fulfill their tax obligations at both the federal and state levels.
The California Form 568, Limited Liability Company Return of Income, is also comparable to Form 3555. This form is used by LLCs to report their income and pay any applicable taxes. Like Form 3555, it requires detailed financial disclosures and serves to confirm compliance with tax laws. Both forms help ensure that all tax liabilities are settled before a business can cease operations.
Form 990, Return of Organization Exempt from Income Tax, is another document with similar functions. Nonprofit organizations use this form to report their financial activities and ensure compliance with tax regulations. Both Form 990 and Form 3555 require comprehensive financial reporting and help organizations maintain their tax-exempt status while ensuring all obligations are met.
Finally, the California Form 3519, Payment for Automatic Extension for Corporations, shares a purpose with Form 3555. This form allows corporations to request an extension for filing their tax returns while ensuring that they pay any taxes owed. Both forms are vital for maintaining compliance and provide a structured way for corporations to manage their tax responsibilities.
When filling out the California 3555 form, it is important to follow certain guidelines to ensure accuracy and compliance. Below is a list of things you should and shouldn't do.
Following these guidelines will help facilitate the processing of your request for a tax clearance certificate.
This form is also applicable to limited liability companies (LLCs) and limited liability partnerships (LLPs). Any business entity that needs a tax clearance can use it.
A tax clearance certificate is only issued when all taxes have been paid or secured. Ensure all dues are cleared before submission.
If a business is closing or dissolving, completing the 3555 form is essential for settling tax liabilities with the Franchise Tax Board.
Any ongoing IRS examinations or determinations must be disclosed on the form. Transparency is crucial for processing.
Even with a tax clearance certificate, all returns remain subject to audit until the expiration of the normal statutes of limitation.
A detailed financial statement is required when assuming tax liabilities. Ensure all necessary documents accompany your submission.
The California 3555 form must be mailed to the specified address. Electronic submissions are not accepted.
Different sections apply depending on whether you are an individual, trust, corporation, or other entity. Fill out the relevant section only.
Businesses that are continuing operations but need a tax clearance for other reasons can also use this form.
Specify the mailing address on the form itself. Changes after submission may not be accommodated.
Here are key takeaways about filling out and using the California 3555 form: