Moving a Business Between States
The process of moving a business between states depends on the business structure. Sole proprietorships and partnerships need to terminate current licenses, apply for new ones, and register in the new state. Corporations and LLCs must get agreement from all members to move and close the business in the old state. Before dissolving a corporation or LLC, the business must be in good standing. Registering the business in the new state requires filing documents like Articles of Incorporation or Organization. Moving also requires changing formation documents filed when starting the business, as each state has different requirements. Having a plan for the move and working with professionals can help ensure a smooth transition.
Key Steps to Moving a Business Between States
- Agree to close the business and move the business.
- File a Certificate of Termination or Articles of Dissolution document with the business’s current Secretary of State.
Other Concerns when Moving a Business to Another State
- Cost considerations and hidden expenses involved in the move.
- Setting up new internet services for the new office.
- Consulting with a tax expert to understand financial responsibilities during the move.
Do I need a new EIN if I move my LLC to another state?
To operate legally in any state, corporations and LLCs must register with the state. Before dissolving a corporation or LLC, the business must be in good standing. Agree to close the business and move the business. All board members must agree to the closure and move to another state. The agreement should be recorded and signed by all parties. Next, you must file a Certificate of Termination or Articles of Dissolution document with the business’s current Secretary of State. Corporations must file documents with the Secretary of State to dissolve the company before it moves. Sole proprietorships and partnerships do not need to register with the state when founded. To permanently move a corporation or LLC to a new state, you must close the business in the original state and then register a new corporation or LLC in the new state. Registering the business in the new state requires filing documents like Articles of Incorporation or Organization. Specific requirements vary from state-to-state, but the typical steps include: However, current licenses and permits must be terminated, and new ones applied for in the new state. Moving also requires changing formation documents filed when starting the business, as each state has different requirements.