Form It-966 - Notice Of Corporate Dissolution Liquidation Or Withdrawal Page 2
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1
2Additional Information concerning Form IT-966
This form is required for all corporations and or organizations dissolving or liquidating in
Indiana.
A Power of Attorney (POA-1) is needed if someone other than a corporate offi cer requests a
clearance for a corporation or organization effecting dissolution, liquidation, or withdrawal.
A corporation may formally request the department issue a clearance to a corporation effecting
dissolution, liquidation, or withdrawal if:
1. All necessary tax returns(including the fi nal tax return) have been fi led in a timely manner.
2. All tax payments and liabilities due or determined due to the department have been paid.
3. The form of notifi cation (Form IT-966) was fi led with the department within thirty (30)
days of the issuance of a certifi cate of dissolution, decree of dissolution, the adoption of a
resolution or plan, or the fi ling of a statement of withdrawal.
The request for clearance must be made in writing by the offi cers and directors of the corporation
within thirty (30) days after the fi ling of the form of notifi cation with the department. The issuance
of a clearance under IC 6-8.1-10-9(g) releases the offi cers and directors from personal liability
under IC 6-8.1-10-9.
If the corporation does not request the department issue a clearance to a corporation effecting
dissolution, liquidation or withdrawal, the department has one (1) year from the date of this form
or the fi ling of all necessary tax returns, including the fi nal tax returns, whichever is later, to assess
any tax or liabilities that may be due the department. The corporate offi cers, directors remain
personally liable for any acts or omissions that result in the distribution of corporate assets before all
state or county tax liabilities have been satisfi ed. An offi cer or director held liable for an unlawful
distribution under IC 6-8.1-10-9 is entitled to contribution from every other director who voted for
or assented to the distribution and from each shareholder for the amount of distribution accepted
by the shareholder.
A not-for-profi t organization that is dissolving, liquidation or withdrawing from Indiana must fi le
Form IT-966. If the not-for-profi t organization requests clearance be issued, the not for profi t or-
ganization must be duly registered with the department and have fi led all necessary Forms NFP-20
and IT-20NP, if applicable.
For any questions regarding this form, you may call (317) 233-0389.
Mail the form to:
Indiana Department of Revenue
Enforcement Division / Corporate Dissolutions
100 North Senate Ave., Room N241
Indianapolis, IN 46204-2253
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