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How to Move Your Business to Another State

The Best States To Move an LLC To States Without 1 a State Income Tax These states do not have a personal state income tax, so you and your employees can keep more of your profits and money earned. NH 1 - Alaska, AK WA NV 2 - Florida, FL 3 - Nevada, NV AK SD 4 - South Dakota, SD WY 5 - Texas, TX 6 - Washington, WA TN TX 7 - Wyoming, WY 8 - New Hampshire*, NH 9 - Tennessee*, TN FL *These states do not impose a state tax on wages but do on tax investment income and interest. States Without a State Sales Tax These states do not have an overall sales tax, which can make in-state purchases less expensive. AK DE MT NH OR Alaska Delaware Montana New Oregon Hampshire Overall These Top Our List 3 of Best States Delaware Nevada has very favorable taxes and does not require is the state of incorporation for over 1 million corporations, including 64 percent of Fortune 500 companies. annual meetings or Operating Agreements. Delaware does not tax Alaska & out-of-state income. New Hampshire do not have overall Wyoming state or sales taxes. does not have an overall state income tax or franchise taxes. Foreign LLCS vs. Moving Your LLCS 4 If you are transacting business and making money in more than one state, you need to register as a Foreign LLC in any state outside your home state. If you are moving your business to another state, you use a process called "Domestication". АК TX How Domestication of an LLC Works The domestication process for moving an LLC does vary between states, but normally involves the following: Get a Certificate of Good Standing for your LLC from your existing state. Obtain Articles of Domestication from the state you are moving to. Complete the information requested in the Articles of Domestication. File the Articles of Domestication with your new state's business registration agency, normally the Secretary of State. 4 Wait for confirmation of domestication from your new state. What to Do After Moving 6 Your LLC You may want to dissolve your LLC in your old state. Speak to your state business registration agency to learn how to do this. If you will continue to do business in your old state, register as a Foreign LLC there. Register with the tax collection agency in your new state for sales and state tax. File Form 8832 with the IRS. incfile References https://www.investopedia.com/financial-edge/0210/7-states-with-no-income-tax.aspx https://www.thebalance.com/states-without-a-sales-tax-3193305 https://www.investopedia.com/articles/personal-finance/092515/4-reasons-why-delaware-considered-tax-shelter.asp https://www.nvsos.gov/sos/businesses/the-nevada-advantage https://taxfoundation.org/state/wyoming/ https://www.thebalance.com/states-without-a-sales-tax-3193305https://www.thebalance.com/states-without-a-sales-tax-3193305 https://www.thebalance.com/states-without-a-sales-tax-3193305

How to Move Your Business to Another State

shared by kevin39 on Oct 22
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Moving is always stressful. Now add having to move your business to another state. Moving your LLC to another state is a process and varies by business and by state, so it is important that you unders...

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