3 Ways to Move LLC to Another State | What Happens to LLC if Move Out of State

[@ElizabethPW]

Check out this TUTORIAL / WALKTHROUGH video of the conversion/domestication process: kzbin.info/www/bejne/p6a5gqWbj7WpaMU

[@eventrightllc]

Thank you so much for this. Military family here, moving from UT (where our LLC is formed) to FL, and we'll be there for only 3 years. We're thinking the Foreign LLC may be best for us, since as you mentioned, we'll be moving again in such a short time.

[@ElizabethPW]

Right that can make a lot of sense. In some places (like Texas) having a foreign LLC is super expensive but in most it is not much, and makes sense

[@ahan.analytics]

I've been trying to figure out what to do about my LLC registration after moving to another state. This is the FIRST place I learned about the option of conversion! Thanks so much!

[@ElizabethPW]

Great! Also look at "domestication" which is what they call it in some states (pretty much the same as conversion)

[@franksedem2388]

I just watched this and thank you for the info. Also very impressed you took the time to answer almost all the questions in the comments. 👍🏿

[@ElizabethPW]

Thanks and you're welcome!

[@DavonDukes]

I found out that when you foreign register to the new state you can then once have both registered you can cancel old living state at that point and not loose your LLC OR EIN

[@ElizabethPW]

Hm if you have a foreign registration then you'd keep your current registration. The way to set it up so you can cancel is to do a "conversion" or "merger" or "domestication" process

[@DavonDukes]

@@ElizabethPW Al states doesn’t allow domestication tho

[@briangmys188]

Dissolved LLC in La and Started new one in AZ. Should I start over bookeeping from day new LLC was formed and how do I transfer Inventory and COGS and stuff to new company.

[@ElizabethPW]

Think of it like you sold the biz (the assets and the goodwill/branding) to a new "owner" -- you'd have a day of "closing" where you close out the old LLC books and start the new LLC books. Usually makes sense to pick the start of a month or quarter.

[@nigelgh01]

Thank you, very well explained.

[@danique-instyle]

Love how easy you explained it! Thank you!

[@ElizabethPW]

Great to hear!

[@yayasis029]

I created an LLC in California last year for e-commerce business and so far I haven’t done anything with it nor made any money on it. Option 1 is for me but question is what will happen to the money in my business account. Once I dissolve can I just take it out? Since I don’t have assets or any debt?

[@ElizabethPW]

When you dissolve you first must pay off any creditors (vendors, loans, credit cards, etc.) and pay off any taxes or govt bills that will be due. Then once all that is paid, you can pay the money to yourself from the bank account.

[@OfficialRogersBros]

The only thing that’s holding me back is the amount of years that I have invested in my current LLC. I don’t want to lose that… Other than that I would have no problem dissolving it and starting back over. Is it worth merging based off of years alone? My income isn’t great yet, but I’m under the impression that year is in business matter.

[@ElizabethPW]

Can be good to merge so you can keep the business's credit rating

[@marlatransportllc9024]

Hi 👋 and thnx for video..I have trucking MI LLC to NY…I don’t have any idea for plates or any new taxes..

[@ElizabethPW]

Are you asking if you need plates in Michigan or New York? My understanding is that there are reciprocity agreements between states but I recommend speaking with the DMV to determine where you need plates.

[@malicenchains4205]

Thank you for the information

[@lizconnolly2603]

Thank you so much!! This was super helpful! I am in the events business and am moving to a new state in a few months. I have already established 2 events in my current state and may gain more business here, all after I move. I want the option to operate in both states, so I'm wondering if the second option is best for me. This was a great launching pad to more research I'll do! :)

[@ElizabethPW]

Yeah if you are going to be operating in both states, it can make sense to just leave the business in one state and register as a foreign LLC in the other state

[@ElizabethPW]

For example, here's the page with the rules & different forms to "convert" an LLC from another state into a California LLC: www.sos.ca.gov/business-programs/business-entities/conversion-information

[@Toomer14]

Thanks

[@wanetahw]

This was great info. Thank you!

[@ElizabethPW]

You are so welcome!

[@triunfa_conamanfi]

Thank you so much for the information. I would like to do the domestication but Massachusetts does not allow that and I am making money for disolved the LLC. I just need to filling an LLC in the new state and I won’t have any problem? How much it is the consultation with you; thanks!

[@ElizabethPW]

Here are my phone consults - calendly.com/elizabethpw

[@911lucy69]

Heights It's a Wonderful video thank you I do have a question can I hire a paralegal to do the merger and conversion

[@ElizabethPW]

Generally paralegals can help you fill out forms but they cannot give legal advice. (Some accountants will help with that too.) The rules about paralegals might be changing in some places (similar to how Nurse Practitioners can now write prescriptions).

[@doyinsolaoloyinde3368]

This video is wonderful! Thank you so very much! I am trying to weigh my options in registering my LLC in Delaware vs New York but operating in another state. Which of these states have higher tax expectations for LLC registered with them but operating in another state. Thank you

[@ElizabethPW]

The issue is if you are operating in a 3rd state, you'll also have to register in that state, so make sure you factor in those costs. Here's an article about Del vs NY www.upcounsel.com/incorporating-in-delaware-vs-new-york

[@amyodida4262]

Thank You! This is so helpful

[@ElizabethPW]

Glad it was helpful!

[@deborahadejoro3962]

Thank you so much for the great information shared. Question does this apply to me since my business is telemedicine platform only with business address been in Texas but, am relocating to Washington State and I plan to continue my business via telemedicine only.

[@ElizabethPW]

In a virtual service business like that, it makes sense to move whenever you either need to register in that new state (think about if you need a medical license in the new state -- similar rules) or if it makes sense for tax reasons (depends on your tax situation)

[@rebeccahales5545]

Hi! Wonderful video. Thank you so much. I had a question about moving my LLC from NYC to CT. I started my business in CT first, then merged it into NYC business and now we moved back to CT after 9 years. Will the back and forth moving effect the merge?

[@ElizabethPW]

It shouldn't matter that you already moved from CT to NYC in the past. The only pending problem is if you left anything done in CT (like unpaid taxes/filings).

[@jorgeortega9576]

Thanks for the knowledge. I have heard about the umbrella LLC. I move around too often and have properties all around the US. I do have a single LLC in Florida. Does a foreign umbrella LLC is something that I should dig in?

[@ElizabethPW]

It really depends on why you want it -- it may not keep you from needing to register as a "foreign LLC" in the state where you are located, if you have "nexus" in that state (physical and/or economic)

[@lamonteasterjr]

What about keeping the EIN & business credit history?

[@ElizabethPW]

If you want to keep the same EIN then the business needs to be the same, so you'd want a domestication (not a merger or dissolution)

[@Therealdivinegoddess]

Hello. Thank you for this video. Is the merger/ conversion option the same as domesticating your business?

[@ElizabethPW]

Great question. Domesticating is similar to merger/conversion, but it is a bit more simple (fewer forms/complexity). Great option if it is available in your state.

[@Therealdivinegoddess]

@@ElizabethPW ok, great! Thanks so much!

[@TheSillyvagabond]

Thanks for the great video. Very helpful. For option 3 (Merger/Conversion), does that mean if It's from NY to Florida, the LLC will no longer have to pay NY taxes anymore once it's Florida? (online business) Any info appreciated. Thanks.

[@ElizabethPW]

If it is no longer formed under NY law and it does not have another reason to be registered there (like employees or a physical location), then it would not file a tax return in NY. But it might still pay sales taxes in NY if it makes enough sales there (nexus is 100 sales/year or $500K/year).

[@TheSillyvagabond]

@@ElizabethPW Thanks. As long as it doesn't have to pay the ny income tax.

[@bettymorales6351]

I did an articles of conversion to move my llc from NY to NC. I am the soleowner and attempting to do the articles of dissolution. I was trying to search if me putting no members in llc will affect the new one I create. because the vote or written consent of members is still me😭

[@ElizabethPW]

You can just have one member/owner that's you

[@chrystalneraasen5598]

Great Video - Just moved from FL to NV, small business, just me - might move again in a year or two, & I want the cheapest option. Would you suggest Option 1 or 2? Thanks!

[@ElizabethPW]

Assuming the business doesn't have a big tax issue (usually due to assets like land, inventory, equipment, lots of cash), if someone is moving every year, I'd leave it in the old state and just register (option 2) until they stop moving (then do option 1 or 3). The only difference is if they are moving to a state where there is a huge $ difference between forming an LLC and registering a foreign LLC (like in Texas).

[@TitledAsh]

What are the downsides of dissolving llc and starting over in new state. Trying to figure out should i dissolve or convert

[@ElizabethPW]

It can create tax problems, like if the old LLC had property or money and it is distributed to the owners and then put into the new LLC. But if it does not, then it can make sense. Also the LLC loses any credit rating when the new one is started.

[@adriennemoore2]

HI! This video is super helpful!I have a question about my situation. I created an LLC in my hometown and moved. I have not officially started the business not even an ein yet. Which option would be helpful for me? I believe the dissolution and reform but will my business name still be available? If you can help please let me know. Thanks!

[@ElizabethPW]

Right usually if someone hasn't actually started the business yet, it is easiest to dissolve and reform in the new state. You need to change the business name database for the new state to see if the name is available (having it in the old state ins't a problem - each state is independent).

[@a_truckerslifewith_tyrone4377]

I have a trucking company I started in San Antonio, TX with just me on it. Then, me and my wife have a Brokerage also started in same state. She has 3 years left in military and the plan is to move back to our home town Sikeston, Mo where we actually have a building to run both business out of. What's best course of action? We were thinking of creating a management company in Missouri.

[@ElizabethPW]

Hm it may make sense to form the entity in your hometown state, since you will probably go back there and you won't want to move it. However, TX does charge a lot of fees for foreign LLCs

[@kriscarter8397]

I have S -Corporation, but only me as employee . My question is with S -Corporation is the same options like LLC ?

[@ElizabethPW]

Yes it is very similar. You just make sure you look for the forms/rules for corporations vs LLCs.

[@efremtesfamariam10]

Thanks ur sharing idea but i have question about which better LLC or S COR move state to state with keep all history you build it before and easy to handle it pls let me know ur opinion thank u,,,,

[@ElizabethPW]

Really an LLC or S Corp will be very similar paperwork for moving to a new state and keeping your history / credit rating. LLCs have a bit less paperwork, but in a few states they are more expensive to file.

[@andrew-isac]

Does merging mean i d loose the 1st company EIN ! And its credit score build history linked to that ein

[@ElizabethPW]

My understanding is that yes if you do a merger, since the old EIN/company does not longer exist, you'd lose the credit history linked to it. Now that may not be true for everyone you deal with (some banks or credit card companies will carry it over, internally). Domestication (if possible) is good because you keep the same EIN so it should carry over

[@andrew-isac]

@@ElizabethPW thank You very much for all great content videos and advice🙏i m big fan of your channel and it helps me alot

[@DavidRossD]

Thank you so much! Very interesting information! May I ask about credit cards, which I opened for my c Corp, I guess I can’t transfer it to my new c Corp ?

[@ElizabethPW]

If you merged the old C Corp into the new C Corp, it is the same business so any accounts (like credit cards) would transfer. If not, it doesn't transfer unless you have the agreement of the credit card company (not likely). It is like if I have a credit card and want to give the account to my friend - that would only work if the credit card company agreed or if I still was liable for the debt.

[@DavidRossD]

@@ElizabethPW thank you so much!

[@ElizabethPW]

Welcome!

[@francisbeakoi535]

So I currently live in Virginia from California. I have residency in these two states. But I did register a business in California about 6 years ago. Since I registered the business I have not started making money or sell any goods. Now as I live in Virginia and own a home here I was thing of starting this business again, but this time in Virginia only because Virginia annual fee is $50 vs California $800. How can you help me navigate this issue. The business is an e-commerce business where I will sell goods online. Up to now I don’t even have a website yet. Thank you

[@ElizabethPW]

Sorry I don't do this work anymore

[@clayflowersboutique8611]

What your recommendations on finding attorneys ? Where and how? Thanks

[@ElizabethPW]

That's a great question! The best place is via referrals, specially other people who have had a similar situation and/or who have the same values. But you may not know anyone in that area, so then I'd do online searching for an attorney who practices in that area. It is important to vet any attorney by checking the state lawyer database (to make sure they are actually a lawyer), by searching on google for reviews or critiques, and by talking to them to see if you resonate.

[@KevinG1994]

I have a NY LLC for a transportation company, I don’t have physical location in CT but will be providing delivery services. Would I need to file as a foreign LLC?

[@ElizabethPW]

If you are providing services in CT, they'd want you to register there, yes

[@laterricabacon]

what if I'm just starting a business, but I'm located in Georgia. But I want to register it for Florida but I don't have a location yet. Will I use my home address?

[@ElizabethPW]

Well you can use your home address for the business mailing address but you'll need a registered agent in Florida if you want to form an LLC there

[@roxyfenton7432]

Hi, i had a question. If I started my LLC in Texas, and have now moved to New York, can I still operate under the same LLC? Or would I need to get a new LLC or certificate of authority? I am confused because etsy is part of nexus, and certificate of authority is for collecting sales tax.

[@ElizabethPW]

You can use the same LLC but yes you need to register it in New York as a foreign LLC (application for authority) with the state. There are multiple kinds of nexus (tax, legal registration, etc.) so it is confusing.

[@samtavoosian3059]

What happens to all the history and credit built in the old llc when dissolved? Will they all get lost?

[@ElizabethPW]

That's a good question! If you dissolve and reform elsewhere, it is technically a new business so it will probably not take the credit history with it. If you want to keep your credit history, then you'd merge / convert / domesticate it instead, so it is the same business.

[@MichaelBrown-vq4fd]

How would the merger work if your LLC name isn’t available in the new state?

[@ElizabethPW]

Good question - you can select a new name in the new state. Usually people pick something that's a slight variation of their current name. On the forms you have a place to put the old state's biz name and the new state's biz name. Then once that's done, you'll need to do a name update/change anywhere you have an account (bank, etc.).

[@AlyoshikMr]

Elizabeth, you are wonderful! Should my IT-company(LLC) pay sales tax if the clients are other LLC or corporations if they pay from their account to my company account?

[@ElizabethPW]

Sales tax depends upon the state when the customer/client is making the purchase, so some of the issue really depends upon location. In many places sales tax is only on product sales, but not everywhere. Selling to another company can still require sales tax, unless it was wholesale (like if your client has a retail business to resell the products).

[@luxxprodux7026]

If I have an LLC in CA but am moving to TX, my understanding is that I will still pay the $800 a year with ca, but what about income taxes for ca? Leaning toward the foregin llc route because I MAY come back eventually. If I am not actually doing business in CA anymore, would I still have to do an income tax return there?

[@ElizabethPW]

So assuming your LLC is a pass-through entity, then it is about whether you as the owner are personally paying income taxes in CA or TX or whatever other state -- depends on where you are a resident and other factors that are about your own personal tax return

[@janakarajapakshe]

Hello ..if you a dissolve a LLC elected as scorp and then reform the LLC in another state with the same name...do i have to file for a new EIN and form 2553 for s corp election? ..Thank you very much

[@ElizabethPW]

My understanding is that if it is the same business and same name, the IRS will let you carry over the EIN - but it is more of an IRS question vs a legal question

[@janakarajapakshe]

@@ElizabethPW Thank you !.. update i got from IRS for anyone looking for the same info...Yes the EIN carries over if its the same business and same business structure..you just need to update the address with IRS

[@clayflowersboutique8611]

Hi Alizabeth! First, thank you so much for making this video. 🙏 i just started small business, making handmade soap and sell on line about 6 months. Now i have to move to another state. Is the third option is fit my case?? Thank you 🙏

[@ElizabethPW]

You're welcome! It depends upon which state you are coming from and where you are going, as well as your budget for moving. In some states there is a "domestication" process that is fairly simple (and the best version of option 3).

[@justicecook1356]

I’m wondering if you can fill me in on how to navigate moving my LLC that has a DBA connected to it. I’m told over the phone that it a whole other process. Let me know! :)

[@ElizabethPW]

Yep it is separate. DBAs are physical location based, so typically after you move the LLC to a new state, you get a new DBA in your new state or county.

[@maidelfigueredo4596]

Hi, great content.If I move my my truck company from Florida to Kentucky what I need to do, can I call someone that could help me,please I don't know anything about this process.Thanks.

[@ElizabethPW]

I think both Florida and Kentucky have domestication (which makes it easier to move an LLC) but I have not worked on one in Kentucky. You may want to talk to a business attorney in Kentucky if you want someone to help (sometimes there are no easy to fill out forms and they need to be created custom).

[@maidelfigueredo4596]

@@ElizabethPW thanks for answering me I really appreciate your information.God bless you.

[@TwentytwentyMIC]

Can I just "File the certificate and articles of domestication in the new state"?

[@ElizabethPW]

Generally you need to file in both the old state and the new state. If you don't file in the old state, then it still exists there and one may need to keep paying fees, taxes, etc. there

[@jakunikukyoshokuchen575]

Hi Elizabeth, I planned on doing a LLC conversion from Indiana (foreign) to California (domestic). If I want to change the member of the LLC and change the name of the LLC, should I do the change before the conversion or afterwards? Thanks in advance!

[@ElizabethPW]

Hm so you can change the name when you do the conversion -- you just specify that in state 1 it is Name1 LLC and in state 2 it will be Name2 LLC. For the member, they will need to agree to the conversion & sign stuff, so depends on the situation (if the member who is leaving is still up for signing stuff, or the new member is ready to sign stuff).

[@Meesso]

Can I demosticate my llc from nyc to Wyoming? And how?

[@ElizabethPW]

New York doesn't have domestication, the last I looked, so you have to do it the more complicated way

[@juraterolando5637]

Great video and very informative! Thank you! Still have some questions. I had an LLC since 2003 in MI. Moved overseas in 2009 and did nothing to LLC, did not dissolve it and have outstanding statement fees, which the LLC is now not in good standing. Now moved back to US, but to Florida and would like to use the same LLC, without loosing establishment date. What would be my best option to "bring back to live" my LLC without loosing the establishment history. Also if i modify the name just a bit, ( instead of "MJT property maintenance" change it to "MJT") will it affect the history as well? Thank you for your time

[@ElizabethPW]

Hm if you want to keep your establishment history / business credit, then you'd need to fix the MI LLC (by paying outstanding fees and file outstanding filings) and then file conversion papers in both MI and FL, to move the LLC to FL. Then it is the same legal entity. You can change the name -- that doesn't change the entity itself so you should keep the history.

[@juraterolando5637]

@@ElizabethPW Thank you so much for the info. So even if the com[any did not have any activity for say 12 years, still have to file taxes, correct?

[@IronMind23]

Can you transfer your business credit you’ve built to another state ??

[@ElizabethPW]

Good question -- if you do a merger or a conversion/domestication, then you have the same legal entity (it just moved) and you should keep your credit. But if you just shut the LLC down in one state and open another in a second state (even if they have the same name), you most likely would not.

[@techwithnath]

Thank you for this video! So should I file for a llc regularly tin the new state then do the conversion form in the old state? This is a complete online business btw

[@ElizabethPW]

Exactly what you do depends upon what state you are moving from/to - but generally you do the filing in the new state, then in the old state. (And before you do any of it, the business has to formally "agree" to the plan of conversion - usually by the board of directors having a meeting with minutes, or agreeing in writing.)

[@VaughnIP]

I'm in NY and am trying to start an online bookkeeping business. I was thinking of moving to Florida at some point this year. I'm trying to decide which option is best

[@ElizabethPW]

If you form an LLC/corporation in NY and then move to Florida in a few months, it will likely be a hassle to redo everything (or do a merger) in that short of a timeframe. When I have clients who may move soon, it really depends upon the timeframe - if they will decide in a few months, probably wait for the decision because it will take a few months to get the business up and running anyway (takes a few months to get the publications done for an LLC in NY, for example). If it is going to be a much longer timeframe, then may start the business since who knows if the move will actually happen.

[@VaughnIP]

@@ElizabethPW thank you for the advice! Yea I am taking courses for the business and was told through the class that I could have my first client in 3, 4 months. I was thinking of getting the businesses up and running before I move so this can be a stream of income for me as soon as I get down there (alongside the money I have saved of course). I cannot start the business without having the LLC first anyway though right?

[@ElizabethPW]

@@VaughnIP you could start it as a sole proprietor (schedule C business) until you decide about the move. You have personal liability with that, but it is little cost to start up and some of the liability issues can be handled by having good client contracts and some business insurance.

[@bigchief7829]

Nice video, so if I just started a company a few months ago and need to dissolve it to move to another state, I wouldn't have to close out the company credit cards or bank account? Would I just have to inform my bank and creditor it's the same company just different location?

[@ElizabethPW]

If you do a merger/conversion or re-domestication, then it is the same LLC so nothing changes, you can keep everything. If you dissolve and form a new LLC in the new state, it really depends because technically it is a new business entity. If it is the same name, sometimes you can keep the same EIN and then sometimes credit card companies and banks will let you just switch over. But it's not as sure of a thing.

[@bigchief7829]

@@ElizabethPW thanks for the information

[@dreamaboutkrissy5926]

Hi Elizabeth I currently live in the state of PA and i don’t want to apply for my LLC in the state of PA because i want to move so should i wait until i move to my new state then apply for my LLC there ?

[@ElizabethPW]

Hm, it depends on the timeframe. Like if we are talking about a few weeks or even a few months, makes sense to wait since it will take that long to get the biz up and running anyway (meanwhile you can work on other biz stuff like website, preparing product/service, building up list of potential customers or social media, etc.). Then file the LLC just as you are going to move there. If it ends up that you don't move, you file it as soon as you run out of other biz stuff to do.

[@dreamaboutkrissy5926]

@@ElizabethPW ok thank you so much

[@hannahrichardson6100]

Hi, thank you for the video! I recently moved to Washington state and am trying to transfer my Wisconsin LLC to Washington. I am a single-member LLC with a small clothing business online (through Etsy) with a small inventory and no employees. I don't make more than a few thousand/year. I don't plan to do business again/move back to Wisconsin. I'm wondering what the best option would be - either #1 or #3? I have an EIN and a business bank account, so I'm not sure if #1 would be the best solution? #3 would be great if I were able to handle the conversion myself. Do you know if the process of transferring a Wisconsin LLC to Washington is a simple process? Thanks so much!

[@ElizabethPW]

I would not say that it is simple since it is a fair amount of paperwork, but it is possible to DIY. Here's an article on Washington state LLC conversion www.northwestregisteredagent.com/llc/washington/domestication that goes through the steps (and you'll also need to file in Wisconsin too). Check it out and see if you think it feasible for you.

[@macsenesaintus3214]

Hello if i already have an LLC for small business from ny can I use it for online business?

[@ElizabethPW]

Yes you can use your current LLC for a different business (that's online) or for an online version of your current business.

[@macsenesaintus3214]

Thanks . Is it a problem if your LLC is on different name? Can you still use it for both?

[@ElizabethPW]

If the branding of the other business is different, then you'd file a dba with the LLC as the owner of the dba.

[@latifahshakur5466]

Hello, would i still be able to use the same business name if i dissolve/reform?

[@ElizabethPW]

Well someone else could get the name in the meanwhile, so you need zero overlap

[@latifahshakur5466]

@@ElizabethPW i get it, so would you know the estimate cost of merging a NY LLC to TX? And is there a way to switch sales tax filing from quarterly to annually.

[@ElizabethPW]

Hm I don't know about the cost of a merger - NY is harder because they don't have the easier types of moving an LLC, so it is more paperwork. For the sales tax filing requirements you'd need to talk to someone at the sales tax office of that state

[@stackzmckinley]

My business is just one month old and I’m located in Louisiana but I’m trying to move my business to Texas I am the only employee and I haven’t done anything yet with my business we have no inventory what do you suggestions I do?

[@ElizabethPW]

If you haven't made any sales, and no inventory or assets, it can make sense to just close (cancellation or dissolution) the current biz and open a new one in the new state -- easier paperwork overall.

[@Parthmehta63]

Do you know the process of moving an S-corp from CA to Mass? I believe Option 3 is best since I have multiple accounts and assets.

[@ElizabethPW]

My understanding is that both CA and Mass allow "domestication" of corporations (similar to merger but less paperwork) -- so yes if you have assets/accounts etc probably worth it.

[@parthamis]

@@ElizabethPW THANK YOU!

[@Toomer14]

Would it be hard for me to practice third option? I have an LLC in New York however I just moved to Las Vegas Nevada. I would really like to keep the same name to my company.

[@ElizabethPW]

Hm. Nevada has a "domestication" process that's pretty straightforward, but New York doesn't recognize domestication the last I checked. But, you may be able to keep the same name as long as it is available in Nevada (as long as no one in Nevada has not already used it there). The main purpose of the merger/conversion/domestication is so you don't have tax consequences.

[@Toomer14]

@@ElizabethPW So even though I have I started a LLC with the name in New York you're saying I can start another entity under that same name in Nevada as long no one has it.

[@ElizabethPW]

@@Toomer14 Right. Getting the LLC in one state doesn't reserve the name all over the USA. There can be two businesses in two different states with the same name, as far as LLC registration goes. ( They can have trademark conflicts but that's a different issue.)

[@JasJones1000]

Hi. I need to know how to use the same name from domestic LLC to foreign. I need the same name😭

[@ElizabethPW]

Hm so if you are registering an out-of-state (foreign) LLC in another state, you can use the same name as long as it is not yet taken.

[@JasJones1000]

@@ElizabethPW I tried but it didn’t allow me unless I don’t know what I’m doing. Plus the name is still available.

[@ElizabethPW]

Hm maybe it violated a rule there? Each state has their own rules about names

[@JasJones1000]

@@ElizabethPW thanks for your responses

[@lashan4636]

What if the new state already has a llc with your company name already established

[@ElizabethPW]

Ah yes that can happen. You'd need to change the name a bit to get it through in the new state -- it does not take much, sometimes just adding a word (like "Media" or "Properties" or "Products" etc.). Make sure you also look at whether they have a trademark on that name/phrase so you don't run into trouble there.

[@lashan4636]

@@ElizabethPW would I also have to change name in original state?

[@ElizabethPW]

No you don't need to

[@NauticaLashelle]

When you transfer your business to another states do you start over with business credit since it’s a new EIN?

[@ElizabethPW]

If you have a new legal entity with a new EIN, then yes you'd likely start over your credit. If you merge/convert/domesticate to a new state, then you keep the same entity/EIN and should keep the credit rating.

[@katalinad6443]

Hi! I have an LLC in Michigan, I have a Trademark attached to the LLC. I'm moving to Alabama and I've been told not to dissolve the LLC but to start a foreign LLC in Alabama. I don't have yet a registered agent and as I'm starting I think I won't get one for at least another year. So does the foreign LLC will have the new home address in Alabama? Where does it pay income taxes in AL or in MI? Do you recommend having the operational agreement? Do you recommend having the registered agent asap? (I'm doing retail online) Do I have to let know to MI that I'm moving or by starting the foreign LLC they will know? Can I just change the address of the LLC to Alabama? without affecting the Trademark (The trademark is still in process). Do MERGING is my best option in this case?, I plan to stay in AL at least for the next 10 years, If I merge, do I pay double taxes or double annual fees as you mentioned for foreign LLCs? . I appreciate your help in advance. Thank you.

[@ElizabethPW]

A foreign LLC in Alabama (or an Alabama LLC) would need a registered agent physically located in Alabama. If an LLC is formed in one state and registered as foreign in another, it will need to do tax filings in both states (but you'd need to talk to a tax advisor about the ramifications). You can change the address on a trademark application pretty easily -- you can also change the owner (the LLC) but that's a bigger deal (an assignments). If you'd like to discuss this further, it would be a good conversation for a Quick Call - www.elizabethpottsweinstein.com/15-min-quick-call/

[@katalinad6443]

@@ElizabethPW Thanks for answering so fast. I'll research a little more to prepare my questions and make the best use of my call. Thank you!

[@sushithebettafish2708]

Regarding the 3rd option you mentioned - Can I submit my LLC state change request in advance, in order to start from a certain date, eg. Jan 1. 2022? This is to avoid having to split my state-related taxes during the year? I'm asking because I currently have an Indiana LLC, but I am moving back to Europe soon (my business is online, and I will only have a virtual address in the US if needed, after leaving). So this year (2021) I will pay my Indiana taxes, since I am still in Indiana. But since my business is online, and I will be abroad from 2022, I would like to enjoy the benefits of not having to pay state tax in some states, eg. Nevada. So I'd like to move my LLC to Nevada starting next year. Can I do that in advance, to make sure the change starts on Jan 1, 2022? And how long does the process take? Thanks for the great videos!

[@ElizabethPW]

Hm some states do provide for that (an “effective date”) but I don’t see that in Nevada’s forms: www.nvsos.gov/sos/home/showdocument?id=4839 as for how long, usually it would take a few weeks for each state to process, but with covid, hard to say

[@sushithebettafish2708]

@@ElizabethPW Thank you so much for your help, your videos are very helpful! Where would you find a reliable registered agent for a new state? Do you have any suggestion where to search?

[@ElizabethPW]

Look at this company www.northwestregisteredagent.com/ they are in every state I think

[@yeemane1679]

I own an single member LLC for a small scale clothing company (only a few thousand in sales a year). I moved from Indiana to California last month, but may need to move to Nevada soon. Would foreign be my best option? How long do I have to make that transition? Please let me know

[@ElizabethPW]

If you are likely moving in sometime in 2021, then yes probably doesn't make sense to keep moving the LLC over and over. As soon as your business has nexus with CA you are supposed to register here a a foreign LLC -- among other things, it is having a physical location (warehouse, office, employees) or engaging in intrastate commerce (inside CA) - here's a link to a video about all that: kzbin.info/www/bejne/h6DZhqVme76bhJY

[@lucadidone7888]

I am in the process of merging a California domestic LLC connected to a Texas foreign LLC and a Texas domestic LLC without EIN. I'll kill the first two. I would like to have the same EIN as the California domestic LLC. How can I do that?

[@ElizabethPW]

If you want everything to have the same EIN as the California LLC, then it needs to be the "survivor" of the merger. Not sure if there's another way to do it, but speak to a CPA/accountant or your tax preparer to see if they have any ideas.

[@lucadidone7888]

@@ElizabethPW thanks for your kind reply. Do you think I can change the address of a company after killing it with the merger? by doing this I could only let the company survive without EIN and I would change the address so as to have the same EIN as the killed one

[@ElizabethPW]

So there are a few different issues. One is the address, which is a simple change that can always be done, just like if a person changes their address. The other is the state of formation of the company (is it a California LLC or a Texas LLC), which is kind of like citizenship for a person -- a much bigger deal to change, that requires merger, conversion, or domestication process (depends on the state). The EIN is attached to a company, like a social security number or tax ID number is attached to a person. But if you want the EIN to match up with the survivor company, you may need to speak with a lawyer or CPA/accountant to make sure it ends up how you want.

[@salamjazrawi4908]

how do I know if I can us my same EIN in the new state?

[@ElizabethPW]

The EIN is a federal (national) number so as long as it is the same business entity, you keep the same EIN even if you move to a different state.

[@BillysBoardGames]

I'm going to be moving my llc from southern California to reno nevada. It's a small warehouse and I'm the only employee currently. Is option 3 a viable option based on those two states? Goals to make a permanent move and keep everything as much the same as possible. LLC was set up through legal zoom about 4-5 years ago. Great video by the way! :)

[@ElizabethPW]

I assume that since you have a warehouse, you have inventory? Typically when a business has inventory, doing the merger/conversion (option 3) is the best way to avoid the tax problems of taking the inventory out of one business and putting it in the other. You have to do filings both in California and Nevada. In Nevada, it is called "Articles of Domestication" and it is a bit simpler than converting: www.nvsos.gov/sos/home/showdocument?id=6552

[@BillysBoardGames]

@@ElizabethPW @Elizabeth Potts Weinstein thank you! Yes I'll be moving inventory as well. Hoping to thin out all out as much as possible before the move though. So I'm filling domestication in nevada.. then you mentioned also filing in California. Am I filing dissolution in California Is that the filing in California you were referring to?

[@ElizabethPW]

@@BillysBoardGames whenever you move to a new state, you will need to do a filing in the "old" state so they don't keep charging you taxes/fees. Usually that's a merger filing (in each state) but the domestication in Nevada is a bit different. Once a business is completely moved to a Nevada via domestication, then would need to dissolve/cancel in the old state (but wait until the move is done so not without an LLC in existence).

[@TeddytheSmartCockapoo]

Elizabeth thanks for this video. Since I moved from MD to TX and to my knowledge in order to domesticate, both states have to allow it and I believe since MD doesnt allow this, do I have to just dissolve and start over? Please help!

[@ElizabethPW]

If they don't allow domestication, they might allow conversion. If they don't allow conversion, they will allow merger. Look into that.

[@TeddytheSmartCockapoo]

@@ElizabethPW should I hire an attorney to do the conversion or merger? Sounds complicated and expensive. Or is there like a legalzoom that handles anything like this for me? Thanks for your advice and video! Very helpful!

[@ElizabethPW]

Hm I don’t know if there’s an online service that does it. Yes it is complicated (lots of forms) - may be good to talk to an attorney or two and see if it makes sense for you

[@TeddytheSmartCockapoo]

@@ElizabethPW Never hired an attorney for anything since I never had legal trouble but Im wondering hiring an accountant can be a cheaper option? I basically dont want to lose my business name, bank accts and credit cards thats tied to my business but I also dont want liability in terms of taxes and fees for both state. Any advice? TIA!!

[@ElizabethPW]

Accountants will file forms but they won't give legal advice. So if you know what you want, one might be able to help. Wouldn't hurt to talk to a few and see what they say.

[@nursecampbell03]

DO WE HAVE TO GET ANOTHER ADDRESS FOR A FOREIGN LLC OR CAN WE USE THE HOME STATE ADDRESS FOR EACH NEW FOREIGN LLC ?

[@ElizabethPW]

I don't think states require you to get a mailing address in that state, but most states will require you to get a registered agent who is located in that state.

[@asheltroncoso1565]

Hi the video was great! I'm really trying to figure out how to move my S-Corp from MA to FL I want to do option 1 because it makes more sense for me, but i want to keep my EIN because of the credit I've built up. Any advice on what I can or should do? Thanks!

[@ElizabethPW]

Hm I have had clients who actually got to keep their EIN on LLCs because the name of the business was the exact same and the owners were the exact same. You might try calling the IRS (800-829-4933) to see if that's okay with them.

[@asheltroncoso1565]

@@ElizabethPW Will do thank you so much!

[@delainascott8117]

Thanks for sharing! I'm trying to fully convert my MI LLC to TX and I need assistance with writing the certificate of conversion. Is there a template I can follow?

[@ElizabethPW]

Many states have forms/templates but Texas just has a checklist: www.sos.state.tx.us/corp/forms/647_boc.pdf (Texas is one of the more complicated ones). Texas does have forms for other kinds of conversions (like a corporation to an LLC) so you might model it off of that.

[@marlatransportllc9024]

I have truck company.. I’m looking to move over from MIichigan-NEW York..can I open at UPS PO box with physical address .let’s say like “3101 Greenwood st suta B..this is gonna work and I will do not have prb from IRS because I’m gonna change only my personal address and for my LLC company I’m gonna open P.O Box with physical address because I can’t trust because I can’t trust to someone address

[@ElizabethPW]

Sometimes it works fine to have a virtual or PMB address, but some government forms will require a physical address (and they have all the PMB addresses in a database, so they check). In New York state you can form a corporation with just a mailing address, though, so could consider that.

[@KiamberMichelle]

I mainly sell beauty products online and ship throughout the U.S, I moved from Texas to N.C, do you think option one to keep my LLC in Texas is the best option for me ??

[@ElizabethPW]

It depends on how often you might move. If you bought a house and are going to stay in NC for years, for example, then it makes sense to move the LLC. But if you are likely to move to other places, yes keep the LLC in Texas until you settle in one location (you don't want to move the LLC every year ... too many costs/hassle).

[@KiamberMichelle]

@@ElizabethPW I haven’t bought a house. But I do plan to stay here at least 2 years. Idk what my life has planned. I might stay here for 2 years or 5 or 10. Idk my rent lease isn’t up until the end of next year 😂

[@ElizabethPW]

Right it’s hard to know. :) So it really depends if it annoys you more to have to deal with Texas for a couple more years, or to deal with the hassle of the paperwork of moving it.

[@Mack-mi9og]

what kind of attorney do this ?

[@ElizabethPW]

business or corporate

[@Mack-mi9og]

@@ElizabethPW business

[@lexielandy]

I tried to dissolve and it gave me a notice before clicking confirm that I will still be required to pay tax fees for that state:( the only other option was to terminate but terminating is for people who haven’t done business. Don’t know what to do :(

[@ElizabethPW]

Hi Lexie - yes if you dissolve an LLC today, you'd still have to file a tax return for the income of Jan 1, 2021 to today Mar 25, 2021 (in states that have tax returns on LLCs). In a few states you have to file that return before you are allowed to dissolve and get a "tax clearance" letter. If you're in a state where it is based on actual income, then it is just for the income from 1/1 to the date of dissolution. If you're in California for example, there is a minimum $800/year fee. Generally the best plan is to dissolve as soon as you can to minimize the taxes in that state.

[@lexielandy]

@@ElizabethPW I just put in my request to dissolve. It’s been less than a year that I submitted my articles of organization. Where do I pay this $800? I haven’t received anything about it before 😥

[@ElizabethPW]

Here's the info on the franchise fee from the CA Franchise Tax Board. www.ftb.ca.gov/file/business/types/limited-liability-company/index.html that has the forms, rules, and link to pay. On that page it talks about the exceptions for if you have never operated and the tax year is under 15 days, and if you file the short form cancellation in the first year.

[@mellowrooster5184]

Hi Elizabeth! I have a question... If I were to dissolve and re-form, would I have to register a new EIN with the IRS as well? Thanks!

[@ElizabethPW]

Great question! I used to think you'd need a new EIN, but I have had clients who just used the same EIN because it was the same exact name, the same underlying business, and the same owners. If you want to know for sure, best way is to ask the IRS: Business and Specialty Tax line at 1-800-829-4933

[@sorenerios3739]

Hi! Do you have an email or phone number I can reach you for a consult? I recently opened my business last year but had to relocate short notice (military). I registered in NM and now I’m OK. What’s the best course of action I should do? I would like to keep my business going but I also know that we will probably be moving every 1-3 years. Any advice is greatly appreciated.

[@ElizabethPW]

The short answer is that for my clients who are military or otherwise moving every year or two, we set them up in a neutral state that makes sense to avoid moving the business every year (expense, hassle). Sometimes we pick a state where they have family connections, and sometimes we pick a state with no income tax and good online filing, like Nevada. If you'd like a consult, here's my contact form: www.elizabethpottsweinstein.com/contact/