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.
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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 ...
Double Taxation with Corporation (C-Corp) vs LLC
Double taxation for a corporation is only valid if one does not redeem in lawful money. The benefit of having a corporation vs an LLC is the corporation DOES NOT pass through any liability; whereas, an LLC will pass through liability, thus it is ...