Whether new opportunity presents itself or you're just looking for a change of scenery, understanding how to move your business to another state may be a critical part of your process. And if it is, the team at John F. Dennehy CPA can and will help.
We are a knowledgeable team of CPAs, accountants, and business consultants who can help you successfully move your business to another state. Don't hesitate to reach out to us today for personalized assistance. And in the meantime, continue reading to learn more about how to move a business to another state.
How to Move Sole Proprietorship and Partnerships to a Different State?
Whatever your reason for moving, the steps required to make the switch depend on the legal structure of your business. For sole proprietorships and partnerships, the transition is simple. Below you will find some important things to keep in mind.
How to Move a Corporation or LLC to Another State?
For corporations and limited liability corporations (LLCs), the process for moving your business looks a bit different. In general, businesses have two options on how to move forward:
The decision you make depends on whether you opt to operate in both states or if you decide to operate exclusively in the new state. If you decide to permanently move your business, there will be some steps to take care of first in order to properly do the transfer. The specifics vary from state-to-state, but they typically follow these steps.
When registering in a new state, be sure to follow the state's guidelines for business name registration, securing business licenses/permits, and filing articles of incorporation. Learn more about the ins and outs of forming LLCs in a different state.
How to Move A Business to Another State Temporarily?
If you are considering continuing business in your old state or are looking to relocate temporarily, dissolving your corporation in the original state is unnecessary. If either scenario fits your business or you are simply deciding to expand your business into an adjacent state, file a foreign qualification in the new state.
To do so, file and submit a Certificate of Authority application form with the required fees to the Secretary of State office. In addition, you will be asked for details of your company; such as stock information, domestic state, principle location you will use in the new state, your registered agent, and a list of all your corporate offices.
Contact John F. Dennehy CPA
If you're like most business owners, you don't move your business to a different state every day. Because of this, the process can seem confusing and overwhelming. With so many things to consider, how do you know you've checked every box? Fortunately, the team at John F. Dennehy CPA can help.
We offer decades of experience helping business owners move, grow, and thrive through all environments. We offer a broad range of solutions designed to meet your unique needs. Whether you're looking to move your business to a new state or foster strategic growth within your home state, the team at John F. Dennehy offers the solutions to help you get there.
Contact us today to learn more about how we can help.