Frequently asked questions

  • Does converting a company have tax implications?
    Yes, there may be significant tax consequences, both at the time of conversion and going forward. For example, if you convert a corporation to an LLC, both the corporation and its shareholders may be taxed. It’s best to consult an accountant or tax advisor for advice on your particular situation.
  • Is an amendment different from a conversion?
    Yes, filing to convert your corporation or LLC to another business type (conversion) is a different process from changing the number, par value, or type of authorized shares, or the number of directors (amendment).
  • Do I have to file for a conversion to change to or from an S Corporation?
    No, an S-Corporation is a special tax classification. Making an S Corporation election—or revoking one—requires a filing with the IRS, not the state. We’re available assist you with making an S Corporation election, though we recommend soliciting guidance from a tax professional as well.
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