DOR improves process to expedite business closures
The Indiana Department of Revenue (DOR) has made the process of closing a business account easier on Hoosiers.
Until now, DOR required businesses to provide certain documents to verify the closure of a business, such as bank records or proof of dissolution. This extra step unfortunately resulted in many businesses never closing their accounts with DOR. To improve the process, DOR now allows businesses to close their tax accounts by simply filing a Business Tax Closure Request (Form BC-100).
DOR simplified the process after analyzing the number of inactive businesses that never officially closed their accounts, which often resulted in unnecessary billing for estimated taxes owed. By reducing the amount of avoidable bills being sent, this measure will save businesses and the state time and money.
“The State of Indiana offers a simple process to open a business online, therefore closing a business should be just as simple.” said DOR Commissioner Adam Krupp. “Through feedback from our customers, we realized DOR’s process needed improvement and, as a result, have a more efficient method to enable DOR to continue to try to provide Hoosiers with best-in-class customer service.”
To learn more about how to close your business visit the DOR website at www.in.gov/dor and click on the “business tax” link on the menu.