Can You Relocate or Convert an Mississippi LLC to a Florida LLC?

Can You Relocate or Convert an Mississippi LLC to a Florida LLC?

Relocating or Converting a Mississippi LLC to a Florida LLC

If you’re a Mississippi LLC Owner (also known as an LLC Member), then you might have heard a thing or two about how Florida has become quite the haven for business owners. There are multiple factors behind this, including the fact that our state imposes no personal income tax on business owners, and all branches of our government are enthusiastically and unapologetically pro-business. Florida has a process known as a conversion that allows eligible LLCs from other states to become Florida LLCs without interrupting the business’s continuity. A full version of the conditions for the state of Florida can be found in Chapter 605 of the Florida Revised Limited Liability Company Act. Corporations have a similar option available to them known as corporate domestication.

What is a Conversion?

Conversions are a statutory process for changing an LLC’s formation state. This works retroactively, meaning that your business will be treated as if it had always been a Florida LLC. Just about everything else about your LLC will remain the same. This includes the business’s EIN, property rights, management structure, and more. However, you might need to find an alternative name for your LLC is the one you want to use is already taken by a Florida business. For that reason, we advise performing a quick name search on Florida’s Division of Corporation’s website.

Does Mississippi Allow LLCs to Convert to Florida LLCs?

Mississippi allows domestic LLCs to convert into foreign LLCs, including Florida LLCs, according to Miss. Code. Ann. § 79-37-501.

(a) Except as otherwise provided in this section, by complying with this article, a domestic entity may become a domestic entity of the same type of entity in a foreign jurisdiction if the domestication is authorized by the law of the foreign jurisdiction. 

Miss. Code. Ann. § 79-37-501

How Do I Convert my Mississippi LLC to a Florida LLC?

If you want to relocate your Mississippi LLC to Florida, the first thing that you need to do is draft a Plan of Conversion that outlines the statutory process governing the move. Then, the LLC’s owners (known as Members) need to approve of the Plan. Once they’ve signed off, the necessary paperwork can be filed with state agencies in Mississippi and Florida. It’s important to closely adhere to the conversion statutes laid out by both states, as mistakes in the process can cause dissolution. 

What are the Effects of Transferring my LLC from Mississippi to Florida?

Transferring your Mississippi LLC to Florida by using our state’s statutory conversion process won’t impact your business much. The converted entity is still the same business that it was before, just with a new formation state. Any real estate and other property rights owned by the Mississippi LLC remain vested in the converted entity too, as do any liabilities or lawsuits in place against the converting business. 

Should I Work With a Lawyer to Convert my Mississippi LLC?

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

Without a doubt! Our firm has experience helping multiple businesses from across the United States to convert into Florida LLCs. We have worked with all industries, including consultants, service businesses, e-commerce, and start-ups looking to relocate to Florida.

Ready to trade Mississippi in for Florida’s unrivaled beaches and pro-business climate? 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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