California Changing state of incorporation
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How to fill out Changing State Of Incorporation?
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You may also choose to live in one state but operate your business out of another state. That is perfectly legal and can even be financially prudent. But when you open or expand your business into another state, you have to comply with that state's laws and regulations.
States Supporting Domestication ArizonaKentuckyPennsylvaniaColoradoMassachusettsSouth DakotaDelawareMaineTexasDistrict of ColumbiaMississippiUtahFloridaNebraskaVirginia4 more rows
For example, California allows domestication ONLY from states that also allow it. States like Arkansas or New York, that have no provisions for domestication, cannot domesticate to California. States like Arizona and South Carolina only allow corporations to domesticate.
How to change a business' formation state Dissolve the corporation or LLC in the old state and form a new corporation or LLC in the new state. Do a reorganization, where a corporation or LLC is formed in the new state and the old corporation or LLC is merged into it. Enter into a statutory conversion/domestication.
To determine what that process is, you must check with the Secretary of State in the state where you are domesticating to. Be aware that some states, like California, allow domestication...but only from other states which also allow it.
Yes, changes to the California Corporations Code made in 2023 now enable business owners to domesticate a California corporation to Florida. California LLCs can pursue a similar path to reorganizing as Florida entities by taking advantage of a process called statutory conversion.
To amend (change, add or delete) provisions contained in the Articles of Incorporation, it is necessary to prepare and file with the California Secretary of State a Certificate of Amendment of Articles of Incorporation in compliance with California Corporations Code sections 900-910.
Reincorporation is highly discouraged due to the adverse tax ramifications. Redomiciliation. If both states authorize a statutory corporate re-domicile procedure, a corporation can convert the existing corporation to a new-state of incorporation ("Redomestication" or ?Redomiciliation?).