There are Four Ways to Move a Corporation
The biggest issue is keeping your FEIN. If you need to keep your FEIN, then you need to pick Domestication (if available) otherwise Merger. The IRS will not permit you to change entities without changing your FEIN, and only Domestication and Merger are considered “the same entity” once everything is said and done.
|Learn more →||By Domestication||By Merger||By Asset Purchase||By Foreign Corporation|
|What is it?||Company actually changes where it’s “from”||Company “merges” into a surviving company in the target state||Current company ‘shuts down’ and opens as a completely new company in the new state||Keep the current company as is, but register it to do business in a new/additional state|
|Special issues?||Both states must agree; Must be in Good Standing||Must be in Good Standing; Works with more than 1 company, and can change entity types||Company’s existing contracts will need to be re-signed with the new company||Company is not moved at all; it will simply be registered to do business in an additional state|
|Available in all states?||No.||Yes!||Yes!||Yes!|
|Same Credit/DUNS Score?||Yes!||Yes!||No.||n/a|
|Same Bank Accounts?||Yes!||Yes!||No.||n/a|
- The comfort of knowing that you’re working with a respected law firm. We are not anonymous, we maintain malpractice insurance, and we train our employees to maintain the confidentiality and anonymity of our clients.
- Availability of licensed business attorneys to answer your questions (for an additional fee).
- Attorney-client privilege and confidentiality.
- Review by a licensed attorney.
- We’ll provide simple edits to your Bylaws, to make it compatible with the target State (or give you a template if you do not have one).
- If appropriate (i.e. for Asset Purchase and Foreign Corporation), we’ll give you an e-Book to help you with your transition.
- We will verify beforehand the availability in the target state of the name you want to use for your Corporation, potentially saving you time/money.
- Coordinated paperwork and filings in your original and target state.
What’s NOT Included
- This service does not include dealing with any tax issues, whether federal, state or local.
- This service does not include local business licensure, permitting, professional licensure or other license issues.
- This service does not include unforeseen expenses, including but not limited to any costs of bringing your Corporation into compliance in the original state, paying back taxes or fees owed to any state, resolving naming problems or conflicts, or new fees or changes in fee structures at any state.
Fees, process and the fine-print
Rules are changing quickly. Our ability to successfully navigate the process depends on you, the status of your company, and whether the original and target states agree to cooperate.
The Law 4 Small Business Difference
We take client satisfaction seriously. We are not in the business of up-selling or pushing services that won’t help you. We work as your partner to get the job you expect done.
L4SB is your long-term partner to help you and your business with the inevitable ups-and-downs, and everything in between.
We’re business lawyers, and we understand many small- and medium-sized businesses struggle just to meet payroll, let alone pay for legal services. That’s why we offer a range of flat-rate services, and reasonable hourly rates for everything else.
REAL LAWYERS REAL ADVICE
With over 200 years of combined business law experience, you can count on getting sound advice and solid representation.