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51573- Articles of Entity Conversion: Conversion of An Indiana Non-Corporation Business

Category:
Secretary of State - Corporations - General
State:
Indiana
Control #:
IN-51573
Format:
PDF
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Description

51573- Articles of Entity Conversion: Conversion of An Indiana Non-Corporation Business

51573- Articles of Entity Conversion: Conversion of An Indiana Non-Corporation Business is a legal document required by the State of Indiana for the conversion of an existing non-corporation business into a corporation. This document contains the Articles of Organization of the new corporation, the name and address of the converting non-corporation business, the conversion plan, a statement that the conversion is permissible under Indiana law, and other related information. There are two types of 51573- Articles of Entity Conversion: Conversion of an Indiana Non-Corporation Business: 1) Conversion of an Indiana LLC to an Indiana Corporation and 2) Conversion of an Indiana Sole Proprietorship to an Indiana Corporation.

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FAQ

What is a business conversion? A conversion is a filing that is made with the state of incorporation allowing a company to change from one business type to another.

The Certificate of Conversion, also known as the Articles or Statement of Conversion, is the document that officially puts your business entity conversion into effect. This conversion document includes basic information about both your converting and converted entities.

Converted-Out: The business entity converted to another type of business entity or to the same type under a different jurisdiction as provided by statute. The name of the new entity can be obtained by ordering a copy of the filed conversion document containing the name of the new entity, or by ordering a status report.

Converted-Out: The business entity converted to another type of business entity or to the same type under a different jurisdiction as provided by statute. The name of the new entity can be obtained by ordering a copy of the filed conversion document containing the name of the new entity, or by ordering a status report.

Advantages of Converting From a Corporation to an LLC In a corporation, you receive profits and losses in proportion to the number of shares you own. Members of an LLC divide profits in whatever way they choose. Losses and profits of an LLC do not have to be split among members based on their ownership.

Statutory conversion ? In a conversion, a document is filed with the state filing office to change from one entity form to another. There is no need to form a new entity.

A business entity conversion, or change in business form, is the legal process of converting an existing business entity from one legal form into another. Most of the time, a business will change from a less complex structure like a partnership to a more complex structure like a limited liability company.

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