The Washington Conversion Agreement is a legal document that outlines the process and terms of converting one type of business entity into another within the state of Washington, United States. It serves as a tool to facilitate the smooth transition from an existing form of organization to a different one, allowing businesses to adapt to changing needs and requirements. This agreement is governed by the laws and regulations specific to the state of Washington. There are different types of conversion agreements available in Washington, each catering to specific business structures and needs. Some commonly known types are: 1. Washington Corporation Conversion Agreement: This type of agreement is used when a business wants to convert from another business entity (such as limited liability company or partnership) into a Washington corporation. It specifies the details of the conversion process, including the transfer of assets, liabilities, and ownership interests. 2. Washington Limited Liability Company (LLC) Conversion Agreement: This agreement is utilized when an LLC desires to convert into another type of business entity, such as a corporation or partnership. It outlines the terms of the conversion, including changes in ownership structure and the treatment of assets and liabilities. 3. Washington Partnership Conversion Agreement: This agreement is employed when a partnership wishes to convert into a different business entity form like a corporation or LLC. It delineates the conversion process, the distribution of partnership assets, and any amendments required in the partnership agreement. 4. Washington Cooperative Conversion Agreement: When a cooperative wants to convert into another business structure, such as a corporation or LLC, this conversion agreement is utilized. It addresses specific requirements for cooperative conversions, including changes in governance and voting rights. The Washington Conversion Agreement ensures that businesses undergo a smooth and legally compliant transformation while safeguarding the rights and interests of all stakeholders involved. It provides a clear framework for the transfer of assets, liabilities, and ownership structures, allowing businesses to adapt to new opportunities and maximize their potential for growth.
Washington Conversion Agreement
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Initial reports are information updates due to the secretary of state after you form or register a business entity, such as an LLC, corporation, or nonprofit.
Corporations and limited liability companies, both foreign and domestic, must pay a $60 filing fee to submit their annual report to the Washington Secretary of State. Washington requires nonprofit organizations to pay $10 when filing their reports.
All Washington corporations and LLCs must file an initial report within 120 days after registering with the state. These can be filed online OR by paper and have a $10 filing fee. When you hire Northwest Registered Agent to form your Washington business, we'll file your initial report for you!
Converting a Corporation to an LLC in Washington Choose a Business Name. ... Complete the WA Certificate of Formation. ... Create a Plan of Conversion. ... Draft Washington Articles of Conversion. ... Complete your Conversion Cover Sheet. ... File documents to the WA Secretary of State. ... Obtain a new EIN. ... Draft an LLC operating agreement.
How to Form a Limited Liability Company (LLC) in Washington Choose an LLC Name. File a Certificate of Formation. Create an LLC Operating Agreement. Apply for a Federal Employer Identification Number (EIN) Choose the type of business entity for tax purposes. File any required state and local business licenses.
You can convert a business entity from one form to another by filing Articles of Conversion with the Secretary of State and paying the appropriate fee. Articles of Conversion will allow you to convert a Washington LLC into a Washington corporation, or vice versa.
Washington State requires that any new LLC file an Initial Report with the Secretary of State within 120 days of formation. This is the first annual report filed with the state. There is a $10 fee to file this report, whether by paper or electronically. You can expedite its filing by paying an extra $50 fee.