How Does One Change an LLC Into A C-Corp or S-Corp
It is best to ask one's State Corporation Division or a qualified CPA within the area, but often it will require a new filing. Apple LLC and Apple Inc. are considered unique and separate entities, each having a unique name. If one owns Apple LLC and wants to convert it into a C-Corp, that would require filing a new C-Corp uner Apple Inc. and then transferring the assets / LLC into the corporation for $1.00 in lawful money.
Related Articles
How Does One Transfer Assets Into A Corporation (S-Corp or C-Corp)
One would create a promissory note between one's self personally and the corporation. Then create a payment schedule and an interest rate that is found in the real world (5-10%) and make monthly payments of interest and maybe principal according to ...
Should One Turn an LLC Into A C-Corp
A C-Corp offers much better protections over an LLC (LIMITED Liability Corporation); the primary word being "limited" which declares it to not be fully shielded from larger lawsuits. There is still a liability if a lawsuit goes over ~$250,000 ...
How Does One Operate A Business with A Trust - Can Trust Own Business
A Bulletproof Trust can own the business, either as majority stockholder (C-Corporation only) or as owner (LLC). To transfer the business into the trust, simply sell the asset (company and equipment) for $1. The alternative is to have the Bulletproof ...
How To Convert an LLC into a Corporation
Many states offer statutory conversion allowing an LLC to convert to a C or S-Corporation by filing forms with the office of the Secretary of State. Once approved, LLC members become stockholders in the corporation, along with all previous assets and ...
Can a Trust Start a C-Corporation or S-Corporation
Yes, a trust (with an EIN) can start a C-Corporation, but not an S-Corporation. S-Corporations do not allow trusts these same rights. The trust cannot serve because only a natural [living] person can serve as a corporate officer. Although a private ...