Can You Relocate or Convert a Utah LLC to a Florida LLC?

Can You Relocate or Convert a Utah LLC to a Florida LLC?

Relocating or Converting a Utah LLC to Florida 

Utah LLC owners are among the many business owners and entrepreneurs taking notice of Florida’s increasingly pro-business climate. Fortunately for them, Florida has a process in place, known as statutory conversion, to accommodate LLCs that are interested in relocating to the Sunshine State. To qualify, the LLC’s origin state must have reciprocal laws allowing the move .A full version of the conditions can be found in Chapter 605 of the Florida Revised Limited Liability Company Act.

What is an LLC Conversion?

When the option is available, conversions are our firm’s preferred method for relocating LLCs from out of state to Florida. The process legally changes the LLC’s original formation state without forcing the business to restart in a new location or interrupting its continuity. The converted entity keeps the same Employer Identification Number, property rights, and management structure. Even its formation date will go unchanged. 

After the conversion, your LLC will be treated as if it had incorporated in Florida from the outset. However, it might need a new name if its original one is already reserved in Florida. Because of this, we recommend that our clients perform a quick name availability check using the Florida Division of Corporation’s website before making any final decisions.

Does Utah Allow Limited Liability Companies to Move to Florida?

Yes, according to Utah Code Ann. § 48-3a-1051.

(1) By complying with Sections 48-3a-1051 through 48-3a-1056, a domestic limited liability company may become a foreign limited liability company if the domestication is authorized by the law of the foreign jurisdiction. 

Utah Code Ann. § 48-3a-1051

How Do I Convert a Utah LLC to a Florida LLC?

The first document that you’ll need to convert your Utah LLC to a Florida LLC is a Plan of Conversion. This Plan outlines the conversion process and needs to be approved of by the LLC’s owners, also known as its Members, before moving forward. Next, you can make the necessary filings with state agencies in Utah and Florida. Both state’s statutes must be carefully followed, as missteps at this point could delay your move or even dissolve your business. 

What are the Effects of Converting a Utah LLC?

Converting your Utah LLC to a Florida LLC allows you to change your business’s base of operations without interrupting its continuity or forcing it to start over as a new entity. It’s the same business you had in Utah, only now it will be treated as if incorporated in Florida at the start. Its initial formation documents will be replaced without delay by the Florida formation documents upon filing without delay. The Utah LLC’s property rights remain vested in the converted entity. 

An important warning if you have any lawsuits, liabilities, or other proceedings against your Utah LLC — those are going to transfer over to the Florida LLC as well.

Should I Work With FL Patel Law PLLC to Convert my Utah LLC to a Florida LLC? 

Mistakes during the conversion process could cause you to lose liability protection, discourage potential investors, or even the liquidation of your company.

Because this is an interstate operation that deals with multiple state agencies, it’s highly advised that you enlist the aid of a law firm with experience in conversions and domestications, such as our own. We have worked with many businesses across all industries, including consultants, service businesses, e-commerce, and start-ups to help them relocate their headquarters to the state of Florida as quickly and painlessly as possible.

Are you ready to move from Utah down to Florida’s white-sand beaches? Don’t risk breaking your business’s stride– get assistance from an experienced business conversion attorney by calling (727) 279-5037, or if you are ready to convert, check out our service page.

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About Us

FL Patel Law PLLC is a boutique business law firm dedicated to entrepreneurs and companies.

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