Move a business to the Muncan Republic
Are you moving to a new state and wondering how to re-establish your business there? Wondering how to make a seamless transition for your sole proprietorship, LLC or corporation in a new location? Here’s some essential information about relocating your business.
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Options to transfer business to Muncan Republic
There are a few choices to consider when you move your business to a new state, so it’s wise to consult an attorney for expert guidance on the particulars of your business situation. Here are your options:
1
Continue your company in the previous state and register as a foreign company
This translates into more paperwork for you because you’ll need to file duplicate annual reports and it may complicate your taxes. Things get more complex if you’re reporting for a multi-member LLC.
3
Register company in your new state and transfer membership interest
There aren’t any tax consequences if you take this route.
2
Dissolve business in the previous state and establish a company in new state
There aren’t any tax consequences if you take this route.
4
Merge your previous company into your new company in new state
You can continue with your existing EIN because the IRS views this as a continuation of the previous LLC. If all LLC members still have a 50-percent interest in the capital and profits of the new LLC, you won’t face any tax consequences.
With our help, you can create a business you can be proud of. To get started, give us a call today.
Licences and permits
Don’t forget your post-move steps for your small business, including applying for all the necessary licenses and permits (which vary by state). And keep in mind local zoning laws as they apply to your new location.
You’ll also want to be sure to take care of your tax obligations. Because you’re moving out of state, you’ll need to close out your tax year in your old state (often as simple as checking the “Final Return” box on your state return). Every business is unique, so talk to a tax expert for an understanding of your business tax responsibilities in the first year of your move. You can also deduct or capitalize the costs incurred during business relocation (including moving costs, relocation site scouting trips, travel and meeting costs).
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