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Get 15-355 Statement Of Conversion

PENNSYLVANIA DEPARTMENT OF STATE BUREAU OF CORPORATIONS AND CHARITABLE ORGANIZATIONS Return document by mail to: Statement of Conversion DSCB:15355 (7/1/2015) Name Address City State Zip Code *355*.

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How to fill out the 15-355 Statement Of Conversion online

Completing the 15-355 Statement Of Conversion is an essential step for associations looking to convert between types. This guide provides clear instructions on how to fill out the form accurately and efficiently online.

Follow the steps to successfully fill out your 15-355 Statement Of Conversion.

  1. Press the ‘Get Form’ button to access the document and open it in the editor.
  2. Enter your name, address, city, state, and zip code in the designated fields.
  3. Provide the name of the converting association in the first section, ensuring it matches official records.
  4. Specify the jurisdiction of formation for the converting association.
  5. Select the type of association by marking the appropriate checkbox (e.g., Business Corporation, Nonprofit Corporation).
  6. Fill in the creation date of the association in the required format (MM/DD/YYYY).
  7. Indicate the statute under which the converting association was formed.
  8. Provide the current registered office address or choose to list a Commercial Registered Office Provider.
  9. Repeat the previous steps for the converted association, ensuring to provide its name, jurisdiction, type, and address.
  10. Declare the effective date for the statement of conversion by selecting the corresponding option.
  11. Confirm the approval of conversion based on the entity's status, either domestic or foreign.
  12. Attach any necessary documents as indicated in the instructions section.
  13. Sign the document as an authorized officer, including the name of the converting association, signature, and title.
  14. Once completed, save your changes, then download, print, or share the form as needed.

Complete your documents online for efficient processing today.

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The business (now an LLC in a partnership to LLC conversion) continues to be taxed as a partnership, and in most situations no adverse tax consequences occur. Like a partnership to partnership conversion, however, a partnership to LLC conversion may result in a change in how the partners share liabilities.

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.

Call a meeting of the general partners. Vote to convert the general partnership to a limited partnership. Decide which partners will remain general partners. Most state limited partnership statutes require a limited partnership to have at least one general partner.

However, New Jersey is one of only about ten states that do not allow statutory conversions of corporations to LLCs. Instead, New Jersey only allows statutory mergers. Unlike statutory conversions, statutory mergers do require you to form a separate LLC before you can convert—or, more accurately, merge—your business.

A Statement of Conversion must be filed with the Pennsylvania Department of State where: (1) a domestic entity becomes a domestic entity of a different type or a domestic banking institution. (2) a domestic banking institution becomes a domestic association of a different type.

Converting a partnership to LLC is relatively straightforward. Generally, each partner must sign the company's operating agreement and then file articles of organization with the state agency responsible for registering business organizations.

The state of Florida has a process known as a statutory conversion that allows eligible Florida-based C corporations and s corporations to convert their businesses into LLCs by filing with the Department of State.

A partnership becomes single member LLC when the members of the LLC sell their shares to one remaining member. The business is then able to continue operations with no changes, but the remaining owner is required to change tax elections and the method of accounting used.

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