Closing a business is a difficult decision, but it is sometimes necessary. There are many reasons why a business might close, such as financial difficulties, changes in the industry, or personal reasons. It is important to plan carefully and take the appropriate steps to close out your business properly.

Among other important tasks, you may need to cancel your business licenses, permits, and file a final tax return. Below is helpful information on what needs to be considered if you have a business in Georgia.

Note!  Taxpayer must be compliant with DOR (all required returns on file). Additionally, closing an account will not stop collections or the obligation to pay liabilities.

  • File Final Tax Returns

    Most business should:

    • File a final Federal tax return
    • File a final State tax return with the Georgia Department of Revenue.  The type of return you file and related forms you need depends on the type of business you have

  • Corporation, Partnership, LLC

    When filing your final Corporation, Partnership, LLC state tax return:

    • Attach a written explanation 
    • Check the box on the return indicating this is your final return

    Use the following forms (find tax forms):

    • Corporation - Form 600, Form 600S, or Form 600T
    • Partnership - Form 700
    • LLC - Form 600, Form 600S, or Form 600T

  • Sole Proprietor

    When filing the federal individual tax return, Sole Proprietors should:

    • Submit Schedule C (Profit or Loss from Business) with their federal tax return (1040 or 1040-SR). Refer to the IRS website for additional information

    When filing the final state tax return, Sole Proprietors should:

    • File your individual return using Form 500
    • Follow the requirements for Corporation, Partnership, LLC above, as needed

  • Sales & Use Account

    You can submit a request to cease or close the Sales & Use business account via phone, the Georgia Tax Center (GTC), or by written request.

    Close a Sales and Use business account using GTC:

    • Log on to GTC
    • Select the Sales and Use Account > See more…
    • From the Management box > select Request to Close Account
    • Read the instructions, enter the cease date, and submit the request
    • Allow up to 48 hours for an account update

    Close a Sales and Use business account by written request:

    • The owner and/or POA (POA must be on file to process request) will need to submit a letter on company letterhead with the effective date and their signature requesting DOR to close the business.  Submit to [email protected]

  • Withholding Account

    You can submit a request to cease or close a Withholding business account via phone, the Georgia Tax Center (GTC), or by written request.

    To close Withholding business account using GTC:

    • Log on to GTC
    • Select the Withholding Account >  See more…
    • From the Management box > select Request to Close Account
    • Read instructions, enter cease date, and submit request. Allow up to 48 hours for an account update

    To close a Withholding business account by written request:

    • The Owner and/or POA (POA must be on file to process request)
    • Will need to submit a letter on company letterhead with the effective date and their signature requesting DOR to close the business to [email protected]

  • Additional Information

    You may also need to:

    • File Dissolution documents with the Secretary of State’s office
    • DOR - Cancel Permit(s), License(s), Business Name(s)
    • Refund Overpayments (within statute)

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