Pennsylvania Conversion Agreement
Description
How to fill out Conversion Agreement?
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FAQ
How do I transfer assets from sole proprietor to LLC? You can use the assets from the proprietorship to purchase ownership in the LLC (capital contribution) Your LLC can purchase the assets from your proprietorship. You can use a transfer document (depending on the type of asset)
In Pennsylvania, you can establish a sole proprietorship without filing any legal documents with the Pennsylvania state government.
Statement of Conversion for Foreign Entity The foreign entity is authorized to effect the conversion by the laws under which it is formed, and it has approved a plan of conversion or other instrument to effect the conversion as required by the laws under which it is formed.
The only fee to register an LLC in Pennsylvania is $125 at initial registration. Then, every 10 years your business will be required to submit a decennial report with a registration fee of $70. If you are not yet ready to file your LLC, Pennsylvania offers a name reservation option.
In Pennsylvania, converting a General Partnership to an LLC requires filing a Statement of Conversion (Form DSCB: 15-355) with the Pennsylvania Department of State. A Docketing Statement must also accompany this form.
Steps for Changing Your Sole Proprietorship to an LLC Step One: Check to See if Your Business Name Is Available in Your State. ... Step Two: Designate a Registered Agent. ... Step Three: File the Articles of Organization. ... Step Four: Register With the IRS. ... Step Five: Announce Your LLC.
Changing from a sole proprietorship to an LLC is fairly straightforward, but there are several details to remember and regulations to navigate. If you are busy running your business, hiring an attorney or LLC service to assist with the process can save you a lot of time and energy.
How to Form a Pennsylvania Professional Corporation Choose a Name for Your Pennsylvania professional corporation. ... Select a Pennsylvania registered office. ... Complete your Pennsylvania Articles of Incorporation. ... Establish a corporate record. ... Designate a Pennsylvania professional corporation board of directors.