Can You Relocate or Convert a Nevada LLC to a Florida LLC?
Converting or Relocating a Nevada LLC to Florida
If you’re a Nevada LLC owner looking to move your business to Florida, then you should take a moment to familiarize yourself with something known as a statutory conversion. Statutory conversion is a process that allows eligible LLCs from other states to “convert” into Florida LLCs by legally amending their state of formation. A full version of the conditions for Florida can be found in Chapter 605 of the Florida Revised Limited Liability Company Act. However, you also need to confirm that Nevada allows their own LLCs to transfer out of state, too.
What Happens During a Conversion?
Conversions are our firm’s go-to when our Clients want to relocate businesses to Florida from out of state because they don’t threaten the business’s continuity or necessitating any significant changes. The Florida LLC will retain the Nevada LLC’s Employer Identification Number, tax status, management structure, and property rights. The only difference will be that your LLC has a new origin state, and it will be treated as if it had incorporated there at its inception.
The exception to this is your LLC’s name, but only in the event that the one you want is already in use by a Florida entity. In that situation, you will need to find a new one. Because of this, we recommend performing a simple name search before filing any paperwork.
Does Nevada Allow LLCs to Convert to Florida LLCs?
Nevada LLCs are allowed to convert to Florida LLCs, or LLCs in any other qualifying jurisdiction, per Nev. Rev. Stat. Ann. § 92A.105. If you’re interested in relocating a Nevada corporation, however, then you should instead investigate the viability of domesticating your business.
1. Except as limited by NRS 78.411 to 78.444, inclusive, one domestic general partnership or one domestic entity, except a domestic nonprofit corporation, may convert into a domestic entity of a different type or into a foreign entity if a plan of conversion is approved pursuant to the provisions of this chapter.Nev. Rev. Stat. Ann. § 92A.105
How Do I Convert my Nevada LLC to a Florida LLC?
The first document that you’ll need to convert your Nevada LLC into a Florida LLC is something known as a Plan of Conversion. Then, once the LLC Members have all signed off on the Plan of Conversion, you can file the rest of the paperwork mandated by state agencies in both Nevada and Florida. Be careful that you follow the steps prescribed by the statutes in both states as well at this point, as mistakes in the conversion process could lead to your LLC’s liquidation.
What Happens When I Transfer my LLC from Nevada to Florida?
One of the best things about converting your Nevada LLC to Florida LLC is that you’ll be able to keep doing business as you wait for all of your filings to go through. Other than the LLC’s origin state, nothing substantial about your company is going to change. The converted entity is the same entity that you had in Nevada, complete with the same EIN, management, tax structure, and property rights.
Post-conversion, your business will retroactively be considered as if it had been a Florida LLC all along. However, you might need to think of a new or alternative name for your business if the one that you used in Nevada has already been taken by a Florida entity.
Should I Use FL Patel Law PLLC to Convert my LLC?
We certainly think so! Our firm is standing by and ready to covert your LLC to the state of Florida. We have worked with many businesses including consultants, service businesses, e-commerce businesses, and start-ups to help them relocate their headquarters to the state of Florida.
Ready to embrace the good life on the East Coast by moving your Nevada LLC down to beautiful Florida? Don’t risk your business’s continuity – enlist the help of an experienced business domestication attorney by calling(727) 279-5037, or if your business is ready to move, check out our service page.
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