Guide For Articles of Entity Conversion Virginia LLC Converting To A Virginia Corporation is a document that provides guidance to individuals and businesses looking to convert their existing Virginia limited liability company (LLC) into a Virginia corporation. This document outlines the steps to take and the documents to be filled out to complete the conversion. It covers the preparation of Articles of Conversion, the filing of those Articles with the Virginia State Corporation Commission, and the other paperwork that must be submitted to the State Corporation Commission for the conversion to be completed. Depending on the size and type of the business, the Guide may also cover additional steps and documents required. There are two types of Guides For Articles of Entity Conversion Virginia LLC Converting To A Virginia Corporation; one for Virginia LCS with 1-50 members and one for Virginia LCS with more than 50 members.
Guide For Articles of Entity Conversion Virginia LLC Converting To A Virginia Corporation
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FAQ
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.
The document required to form an LLC in Virginia is called the Articles of Organization. The information required in the formation document varies by state.
By default, Virginia's conversion statute requires approval of the plan of conversion by a two-thirds majority of the shareholders in each voting group entitled to vote.
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.
Visit to file articles of amendment of a Virginia Limited Liability Company in real time. Questions? Pay online with a credit card or eCheck. No additional processing fees apply for filing online.
This process of changing formal entity types is known as a ?conversion.? A conversion is a statutory transaction in which one type of business entity becomes a different type of business entity?such as an LLC becoming a Limited Partnership.
If the S Corp's assets have increased between the time of the formation of the business and the time of the conversion to an LLC, a capital gain is realized. This means that the shareholders must pay capital gains tax on the amount of that gain.
Three ways to change from one form of entity to another are dissolution/formation, inter-entity merger, and statutory conversion.