Tag Archives: LLC

Redomestication: How to Move an LLC or Corporation | AllBusiness.com

Redomestication refers to when a business changes the state that’s considered its home state (also known as its “domicile state”). It’s a process that shifts a company’s charter to a different state, altering its residence.

Before I get into what’s involved with redomestication, let’s first talk about “domestication” and a business’s domicile.

Business domestication and domicile

Generally, a limited liability company or corporation’s domicile state is the state where the business was legally formed. Domestication, establishing a home state, gets completed by filing forms called Articles of Organization (LLC) or Articles of Incorporation (corporation). The domicile is usually where the principal place of business resides.

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LLC vs. Inc.: Which Entity Is Right for Your Business? | Business News Daily

LLCs limit owner liability and offer more flexible taxation as a pass-through entity.

Corporations, such as S-corps and C-corps, are entities for larger, profitable businesses or those with shareholders.

How you incorporate your business entity has a profound effect on the organization of your company, the distribution of profits and losses, and the way your business is taxed.

This article is for entrepreneurs trying to determine the best type of business entity for their company when preparing to incorporate.

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How to Change Your Business Structure | business.com

Is your original business structure no longer a good fit for your company? Change it.

The business structure for your company is one of the most important decisions you’ll ever make. However, you can change the structure at any time.

Most owners review liability protections and tax advantages as part of choosing the right business structure.

Common business structures include corporations, partnerships, sole proprietorships, cooperatives and limited liability companies.

Your business structure is the backbone of your company. It dictates your control, liability, and taxes and sets the pace for your entrepreneurial journey. However, the first structure you choose doesn’t have to be permanent.

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LLC vs. S-Corporation: What’s Better for Your Business? | Business News Daily

The business structure you choose dictates your path to commercial success, but choosing the right entity requires extensive research and personal reflection. Each structure has its own set of guidelines, benefits and drawbacks.

How do you know if you should set your business up as a limited liability company (LLC) or an S-corp? We spoke with accountants and business advisors to get their take.

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Should Your LLC Elect S Corporation Status? | Allbusiness.com

Many entrepreneurs choose to structure their businesses as the ever-so-popular LLC Limited Liability Company or S Corporation. Business owners may struggle with the choice between the structures, but many times but don’t realize that the two aren’t mutually exclusive. It’s possible to have your cake and eat it too by forming an LLC and then electing S corporation status.This is a particularly sound strategy if you have an LLC and the payroll taxes self-employment taxes on the owner/s are high. Here we’ll break down some of the key details on why you should consider an LLC with S corporation election, and how you go about doing it.

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