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Fransmart's existing and previous franchise advancement portfolio brands have actually opened thousands of restaurants globally. Fransmart and their partner brands are dedicated to franchise development growth. Follow Fransmart on Facebook, Connected, In, Instagram, Twitter and You, Tube. For additional information, see www. fransmart.com. Ashlyn Ellisashlyn@fransmart. com703-842-5400.

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Background Domestic corporations (corporations developed under the laws of New york city State) must pay income franchise and other taxes to New York State. More In-Depth pays the earnings franchise tax in exchange for the privilege of exercising its corporate franchise, doing business, using capital, owning or renting residential or commercial property, maintaining an office, or deriving invoices from activity in the state.

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The procedure of voluntary dissolution brings the existence of the corporation to an end, and eliminates the corporation's responsibility to submit returns and pay taxes and charges to New york city State in the future. The dissolution procedure includes both the Tax Department and the New York City Department of State. A domestic corporation that willingly liquifies does not end its responsibility to file returns and pay taxes and fees if it continues to conduct service, even if business is carried on entirely outdoors New york city State.

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Procedure for voluntary dissolution Voluntary dissolution is generally a two-step process: Acquiring written consent from the Tax Department1 (which will inspect to see if the corporation owes back taxes and if it has filed all its returns)2; and Filing documents with the New york city Department of State, consisting of a Certificate of Dissolution.