Closing / Pausing a Business

[Tamgerine]

I registered as a legal business in my state so I could pay my taxes like any good old American does. However, I have just recently been informed that I am likely deploying overseas within the next few months. I found some information on my local SBA website, but I am hoping for some advice from those who have been in business much longer than I have.

Would closing my business completely be my best option? Is there some sort of hiatus status my business can be in? If I need to re-locate my business upon my return, to I have to close it in my state and re-register it in another, or is there re-location paperwork that can solve that problem? Does it look bad on my tax records if I close a business every time I deploy and re-open it upon my return?

I would appreciate any advice that can be offered. Thank you!

 

[The_Traveler]

Call the Secretary of State of North Carolina

 

[KmH]

Yep, it depends on the laws in North Carolina and the city the business is registered/licensed in.

 

[MLeeK]

There are ways to do both. You can report your sales taxes as 0 sales, we do that with our two months that my husband and I shut everything down each year. Or, you can shut down.
I'd say you have to decide based on the likelihood of where you will go when you come back.
I am assuming by your post that you are military. Go to JAG and get advice.