Can You Relocate or Convert a Missouri LLC to a Florida LLC?
Converting or Relocating a Missouri LLC to Florida
Florida’s popularity among business owners, including Missouri LLC owners, has exploded in recent years. Much of this has to do with our state’s pro-business government and the fact that we impose no personal income tax on business owners. The good news is that Florida has a process in place, known as a statutory conversion, that allows LLCs from other states to change their state of origin and become Florida LLCs. A full version of the conditions can be found in Chapter 605 of the Florida Revised Limited Liability Company Act.
What is a Conversion?
A conversion is a process that allows you to change your Missouri LLC into a Florida LLC without interrupting your business’s continuity. There’s no need to dissolve your original business and start over from scratch, either. The converted entity will be the same business you always had, complete with the same EIN, property deeds, and management structure. All that changes is your LLC’s state of formation, which means that it will be treated as if it had incorporated in Florida from the start. That said, you might need to find a new name if the one you want is already taken by a Florida entity. We suggest performing a name availability search before making any final decisions.
Does Missouri Allow LLCs to Move Out of State?
Missouri LLCs can convert into Florida LLCs pursuant to Mo. Ann. Stat. § 347.127.
1. A domestic limited liability company may merge or consolidate with or into one or more limited liability companies formed under the laws of this state or any other jurisdiction, and such domestic limited liability company or foreign limited liability company by agreement between the parties to the merger or consolidation, shall provide for the surviving entity, as provided in sections 347.127 to 347.135.Mo. Ann. Stat. § 347.127
How Do I Convert My Missouri LLC to a Florida LLC?
First, your Missouri LLC will need a Plan of Conversion outlining how the move will take place. Once the LLC’s Members have approved the Plan, you can file the required paperwork with the respective agencies in each state. Make sure to carefully follow the conversion sections outlined by the statutes in both Missouri and Florida. Mistakes in the conversion process can cause costly delays or even dissolution.
What are the Effects of Converting my Missouri LLC?
Bringing your Missouri LLC to Florida by way of a statutory conversion changes your LLC’s original formation state without forcing you to start over or otherwise make any major amendments to your business. The formation documents held in Missouri will be canceled out and replaced by your new Florida Articles of Organization upon filing without delay. Membership interests won’t be impacted, and any real estate or other property rights held by the Missouri LLC will be transferred to the converted entity. Be aware, though, that any lawsuits or liabilities against your Missouri LLC will follow it to Florida as well.
Should I Work With a Lawyer to Bring my LLC to Florida?
Yes! We can help you with converting your Missouri LLC into a Florida LLC. We’ve helped many businesses, including consultants, service businesses, and start-ups, relocate to Florida.
Is your Missouri LLC ready to relocate to Florida? 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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