Dania Beach, FL July 6 2015.- We are pleased to introduce our new service called “Entity Conversion”. The process of changing from one type of entity -for example, a corporation to an LLC or viceversa, is called Entity Conversion.
As defined by some states, conversion means the continuance of an entity into another entity. The “converting entity” is the entity existing before a conversion takes place. Meanwhile the “converted entity” is the entity resulting from a conversion.
Companies can change their legal format for different reasons. An LLC may want to convert to a C Corporation to make easier the incorporation of new shareholders or for tax purposes. A Corporation can convert to a Limited Liability Company (LLC) to take advantage of the pass through feature allowed to an LLC, etc…
One common situation that normally triggers the need of this service is when business owners decide to move to a new Estate. In this case, entrepreneurs face the dilemma of starting a brand new entity in the new State -and dissolve the original entity- or to convert the state of formation.
Our new service can assist you in different scenarios:
- Conversion of a foreign entity into a domestic one (also called “Domestication”);
- Conversion of State of formation as the same type of entity;
- Change of legal entity (i.e. LLC to corporation);
- Conversion of State of formation as a different type of entity;
- Merging a foreign entity with a domestic entity and terminating the existence of the foreign one;
- Foreign Qualification, expanding from one state to another.
For more information about our Entity Conversion Services please check out the service page or contact us by email or phone.