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Conversion is an intentional tort that protects against interference with one's possessory and ownership interests in personal property. It involves the unauthorized exercise of right of ownership over the personal belongings of another person. The law protects your personal property in a number of ways.
To form a Virginia S corp, you'll need to ensure your company has a Virginia formal business structure (LLC or corporation), and then you can elect S corp tax designation. If you've already formed an LLC or corporation, file Form 2553 with the Internal Revenue Service (IRS) to designate S corp taxation status.
Once you and any other LLC members have agreed on a new name, you'll need to file a Certificate of Amendment with the state. Your new name must match the Mississippi name requirements outlined in the Mississippi Limited Liability Company Act. Your new LLC name must: Be unique in the state.
A Mississippi Plan of Domestication is an internal document drafted by a business that puts into writing the business's plan to become a domestic entity in Mississippi.
The Certificate of Conversion, also known as the Articles or Statement of Conversion, is the document that officially puts your business entity conversion into effect. This conversion document includes basic information about both your converting and converted entities.
Mississippi's domestication law authorizes out-of-state LLCs to domesticate into Mississippi, or Mississippi LLCs can domesticate into another state. In either case, the other state must also have a domestication law that lets an LLC transfer to a new state.
The plan of entity conversion must be (i) approved by the unanimous consent of the shareholders, (ii) adopted by the board of directors and approved by each voting group of shareholders entitled to vote on the plan by more than two- thirds of all the votes entitled to be cast by that voting group, unless the board of ...