US Legal Forms
South Carolina Conversion of A Limited Liability Company To A Benefit...

South Carolina Conversion of A Limited Liability Company To A Benefit Corporation

Name: South Carolina Conversion of A Limited Liability Company To A Benefit Corporation
Brand: US Legal Forms
Price: 59.00 USD
Rating: 4.7 (428 reviews)

Category:

South Carolina Secretary of State - Limited Liability

State:

South Carolina

Control #:

SC-SKU-0783

Format:

Instant download

This website is not affiliated with any governmental entity

Public form

Description

Conversion of A Limited Liability Company To A Benefit Corporation South Carolina Conversion of a Limited Liability Company (LLC) to a Benefit Corporation is a process whereby a business entity or organization is converted from an LLC to a Benefit Corporation. The conversion process involves filing a Certificate of Conversion with the South Carolina Secretary of State, changing the articles of organization and updating other documents such as the operating agreement and bylaws. The conversion allows the LLC to become a Benefit Corporation, which is a type of business entity that seeks to create a positive impact on society and the environment. The Benefit Corporation is a for-profit business entity that has additional accountability and transparency standards. The conversion process allows for a company to have a mission to create a public benefit or a specific public benefit, and to pursue that mission with a greater emphasis than is traditionally required of corporations. There are two types of South Carolina Conversion of a Limited Liability Company To A Benefit Corporation: 1) Conversion of an LLC to a Public Benefit Corporation; and 2) Conversion of an LLC to a Flexible Purpose Benefit Corporation.

South Carolina Conversion of a Limited Liability Company (LLC) to a Benefit Corporation is a process whereby a business entity or organization is converted from an LLC to a Benefit Corporation. The conversion process involves filing a Certificate of Conversion with the South Carolina Secretary of State, changing the articles of organization and updating other documents such as the operating agreement and bylaws. The conversion allows the LLC to become a Benefit Corporation, which is a type of business entity that seeks to create a positive impact on society and the environment. The Benefit Corporation is a for-profit business entity that has additional accountability and transparency standards. The conversion process allows for a company to have a mission to create a public benefit or a specific public benefit, and to pursue that mission with a greater emphasis than is traditionally required of corporations. There are two types of South Carolina Conversion of a Limited Liability Company To A Benefit Corporation: 1) Conversion of an LLC to a Public Benefit Corporation; and 2) Conversion of an LLC to a Flexible Purpose Benefit Corporation.

View Media Request for Cameras in the Courtroom

View this form

View Drug Court Treatment Contract

View this form

View Deferred Payment Plan Or Agreement

View this form

View Trust Termination Packet

View this form

View Change of Address Form

View this form

How to fill out South Carolina Conversion Of A Limited Liability Company To A Benefit Corporation?

If you’re looking for a way to properly prepare the South Carolina Conversion of A Limited Liability Company To A Benefit Corporation without hiring a legal professional, then you’re just in the right place. US Legal Forms has proven itself as the most extensive and reliable library of official templates for every individual and business situation. Every piece of paperwork you find on our web service is designed in accordance with nationwide and state regulations, so you can be sure that your documents are in order.

Adhere to these simple guidelines on how to get the ready-to-use South Carolina Conversion of A Limited Liability Company To A Benefit Corporation:

Ensure the document you see on the page meets your legal situation and state regulations by examining its text description or looking through the Preview mode.
Type in the document title in the Search tab on the top of the page and choose your state from the dropdown to find an alternative template in case of any inconsistencies.
Repeat with the content check and click Buy now when you are confident with the paperwork compliance with all the requirements.
Log in to your account and click Download. Sign up for the service and opt for the subscription plan if you still don’t have one.
Use your credit card or the PayPal option to purchase your US Legal Forms subscription. The blank will be available to download right after.
Decide in what format you want to get your South Carolina Conversion of A Limited Liability Company To A Benefit Corporation and download it by clicking the appropriate button.
Add your template to an online editor to fill out and sign it quickly or print it out to prepare your hard copy manually.

Another great thing about US Legal Forms is that you never lose the paperwork you acquired - you can find any of your downloaded templates in the My Forms tab of your profile any time you need it.

Form Rating

4.7

Satisfied(428)

Form popularity

FAQ

South Carolina allows domestication of corporations ONLY. Owners of LLCs looking to domesticate in South Carolina need to dissolve in home state and form a new LLC in South Carolina.

Most states allow LLCs to be converted to a corporation by the simple filing of documents with the state. At the time of the conversion the LLC by operation of law becomes a corporation and, therefore, the owner of all the assets, liabilities and obligations of the LLC. 2.

You can dissolve a corporation by filing Articles of Dissolution with the Secretary of State's office. For an LLC, you must file Articles of Termination. You can file these documents online or by mail. There is also a small fee requirement with the filing of the dissolution documents.

Because an LLC is a separate entity, the owners of the company have limited liability. This is one of the most important benefits to operating as a limited liability company. Limited liability means that the individual assets of LLC members cannot be used to satisfy the LLC's debts and obligations.

File a Certificate of Conversion (Form CONV-1A (PDF)) online at bizfileOnline.sos.ca.gov, by mail, or in person; The filing fee is $150 if a California Corp is involved; and $30 for all others.

Here's what the general process entails: Form a separate corporation with LLC members as shareholders. Create a merger plan and ask each member to approve it. Exchange your membership interests for shares in the new corporation. File a certificate of merger with your state. File a formal dissolution of your LLC.

Converting an LLC to C Corp is easy. The process is fast, and the required paperwork for the conversion is easy to understand. Typically, the state of Delaware will process the paperwork within three days. It's also affordable as it generally costs less than $300 to convert an LLC to a C Corporation in Delaware.

The Form 8832 is also filed to change the LLC's entity classification. Thus, an LLC that has been treated as a partnership for several years may be able to prospectively change its classification to be treated as a corporation by filing Form 8832.

More info

If you have an existing corporation or LLC, you can convert that entity into a benefit corporation. A new business can be formed as a benefit corporation, and an existing corporation can be converted to a benefit corporation.Learn about Benefit LLC's, an option for entrepreneurs who want their business to earn a profit while making a positive contribution to society. Include a statement in the articles of incorporation or organization that says the corporation or LLC is a benefit company subject to ORS 60. Find the business entity conversion information chart, forms and signature requirements here. Complete and include this form with your paper submission. Then, you form a new LLC, and all assets are transferred to the new company before the transition is complete. The converting business entity is a (check one): foreign corporation domestic limited liability company foreign limited liability company. A corporation, its articles of incorporation; b. A limited liability company, its articles of organization; c.

South Carolina Conversion of A Limited Liability Company To A Benefit Corporation

Description

Related forms

How to fill out South Carolina Conversion Of A Limited Liability Company To A Benefit Corporation?

Show more info

Form Rating

Form popularity

FAQ

Does South Carolina allow domestication of LLC?

How hard is it to convert LLC to C corp?

How do I dissolve an LLC in SC?

What are the benefits of converting to a limited liability company?

How much does it cost to convert LLC to C corp?

How do I change my LLC to C Corp?

How long does it take to convert LLC to C corp?

What form do I need to change my LLC to C corp?

More info

Trusted and secure by over 3 million people of the world’s leading companies