A Certificate of Conversion For Florida Limited Liability Company Into Other Business Entity Into is a document filed with the Florida Division of Corporations that allows a Florida Limited Liability Company (LLC) to convert into a different type of business entity, such as a Corporation, Limited Partnership, or Limited Liability Partnership. The document must include the name of the LLC, its registered agent, and the type of business entity it is converting into. Depending on the new entity, additional documents may be required. The Florida Division of Corporations offers three types of Certificate of Conversion For Florida Limited Liability Company Into Other Business Entity Into: 1. Conversion of a Florida Limited Liability Company to a Corporation 2. Conversion of a Florida Limited Liability Company to a Limited Partnership 3. Conversion of a Florida Limited Liability Company to a Limited Liability Partnership.
Certificate of Conversion For Florida Limited Liability Company Into Other Business Entity Into
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How to fill out Certificate Of Conversion For Florida Limited Liability Company Into Other Business Entity Into?
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FAQ
In Florida, there is a fairly simple process by which to convert an LLC into a Corporation, or vice versa. Conversions, however, often come with an array of tax implications. The Division of Corporations specifically suggests consulting an attorney and a tax professional before converting.
It is possible to change a limited liability company (LLC) to a corporation, and it's a simple process in many states. But if you only want to become a corporation for its tax advantages, you can also remain an LLC and elect to be to be taxed as an S-Corporation.
File IRS Form 2553 For the tax election to have effect for the full year, the form may be filed anytime in the previous year until March 15 of the year in which you want the tax election to take effect. If you have just launched your LLC, you can file IRS Form 2553 within 75 days of formation to be taxed as an S-corp.
To file an amendment for a Florida Corporation, you'll need to fill-out Florida's Articles of Amendment ? Profit Corporation form. (If your corporation is a nonprofit, use Florida's Articles of Amendment ? Not for Profit Corporation form.) The fee for both profit and nonprofit corporations is $35.
In Florida, you can use a relatively new, simplified procedure that allows you to convert your business from an LLC to a corporation largely by filing a few basic forms with the Secretary of State.
If you want to convert an LLC to an S corporation in California, the process is pretty straightforward. There are pros and cons to this decision, though, so it's important to first understand how your business will change when you opt for that S-corp tax status.
Florida offers what is known as ?statutory conversion.? This transfers your previous assets and liabilities to the new corporation. This requires that you prepare a plan of conversion including your Articles of Incorporation for submission to the Department of State along with a certificate of conversion.
LLC to S Corp Conversion Cost However, you will have to pay the filing fee for Form 2553, and if your hire an attorney, you will incur legal fees as well. ContractsCounsel's marketplace data shows the average LLC to S Corp conversion cost to be $1,200 across all states and industries.