Withdrawal from a US State: don’t tip-toe out the door
If you stop doing business in a US State, be sure to notify your payroll service, your attorneys and your accountants. They will ensure that you complete the necessary forms needed to relieve you of tax responsibilities in that State. If you fail to formally withdraw from the State and/or notify the State following the correct procedures, the State may prepare and file returns on your behalf, generally consistent with prior returns you filed while doing business in that State. You are at risk of being hit with minimum franchise, payroll and other state taxes.
Before making any decisions based on the above information, please contact BNKJ or another trusted professional accountant or advisor.
This prestigious award, which carries a $2,000 gift to a charity of the winner’s choice, recognizes exemplary service among Georgia's charitable advisors. Nominees have served at least 10 years in the field of planned giving and uphold superior standards in the field, increasing the quality and quantity of planned gifts to charities in Georgia. Past award winners include Ben White in 2005, Henry Bowden in 2006, Stephen M. Berman in 2007 and Zoe Hicks in 2008.
In choosing the winner, the selection committee cited Dick’s work in helping his clients meet their charitable goals, and benefitting scores of Georgia charities in the process. They also recognized Dick’s dedication to fundraising efforts on behalf of charitable organizations.
The Georgia Planned Giving Council is the statewide affiliate of the National Committee on Planned Giving, now known as the Partnership for Philanthropic Planning. Its membership consists of non-profit professionals, professional advisors and others throughout Georgia committed to promoting planned giving to charitable organizations.
BNKJ would like to thank the University of Georgia Alumni Association for selecting the firm to be one of only 100 members of the inaugural class of the Bulldog 100: Fastest Growing Bulldog Businesses. The Alumni Association chose BNKJ based on the firm’s tenure in the State of Georgia and the financial success and growth of our firm. We proudly accept this honor, and feel very fortunate to have such successful, wonderful clients, friends and employees that are the reason for BNKJ’s health and strength as a business.
Proud Members of the American Institute of Certified Public Accountants (AICPA) and the AICPA Employee Benefit Plan Quality Center
BNKJ is proud to have been a founding sponsor and 21 year supporter of the Kennesaw State University Cox Family Enterprise Center. Congratulations to KSU, Coles College of Business, which Fortune Small Business named one of the six best places in the United States for family business education.
Babush, Neiman, Kornman & Johnson, LLP (BNKJ, LLP)
Certified Public Accountants and Consultants
5909 Peachtree Dunwoody Road, Ste 800 | Atlanta, GA 30328
Tel 770-261-1900 | www.bnkj.com
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