Changing or Closing Your Business

If you sell, close, or discontinue business operations within Los Angeles, you must notify the City of Los Angeles, Office of Finance.  You may also need to contact and inform the County, State, Federal, and other Local government agencies.

 

City Requirements

 

Office of Finance

When you decide to sell, close, or discontinue business operations within Los Angeles, you must cancel your City of Los Angeles' Tax Registration Certificate by sending a letter or by completing a Taxpayer Information Update Form and sending it to the Office of finance.  

Taxpayer Information Update Form
Complete this form to update the Office of Finance with your new information.
Taxpayer Information Update Form

Mailing Information
Office of Finance Special Desk Unit
200 North Spring Street, Room 101
Los Angeles, CA 90012

Email
finance.customerservice@lacity.org

 

County Requirements

 

Los Angeles Registrar-Recorder/County Clerk

When closing your business and will no longer be using your fictitious business name, you will need to submit a Statement of Abandonment.

 

Statement of Abandonment
Complete this form to update the County of the change in your business.
Statement of Abandonment

 

State Requirements

 

Employee Development Department

If you have employees, you must provide them with information about Unemployment Insurance Benefits and pay final state payroll taxes. To submit your payroll taxes, file a Payroll Tax Deposit and Quarterly Contribution Return and Report of Wages along with payment to the CA Employment Development Department (EDD) within ten days of closing your business. Learn more about the closing requirements from the EDD.

 

Employee Development Department Website
Access this webpage for information on closing your business if you have employees

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Board of Equalization

Whenever you sell or close a business that obtained a seller’s permit, you need to close out your account with the CA Board of Equalization (BOE). If your business is a corporation or a limited liability company, you may be asked to pay any unpaid taxes, interest and penalties. The BOE has created a Closing Out Your Seller’s Permit guide and provides additional instructions online to help you navigate this process.

 

Board of Equalization Website
Access this webpage for information on closing your business if you obtained a seller's permit"

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Federal Requirements

 

Internal Revenue Service

When you close or sell your business, you must file final employment tax returns with the IRS. You also must file returns to report disposing of business property, to report the exchange of like-kind property, and/or to change the form of your business. The IRS Closing a Business guidelines provide all the information you need to close, sell, or declare bankruptcy for your business with the IRS.

 

Internal Revenue Service Website
Access this webpage for IRS required information on closing your business

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Department of Labor

If you have employees, be sure to follow US Department of Labor (DOL) regulations. The DOL instructions for downsizing and closing explain the federal rules for laying off employees, and offer services to assist you through a layoff as well as plan for and avoid future layoffs.

 

US Department of Labor Website
Access this webpage for DOL requirements on closing your business if you have employees

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