Domesticate Your Existing LLC
Domestication of an LLC means you are keeping your entity intact but are subjecting it to a new state or new set of laws to govern it. It is sometimes called a "conversion."
This is considered the most straightforward process; however, you may run into the fact that not all states allow business entities to do this. Researching both the new state and your current state entity requirements will provide you with more details and insight.
Why Should I Domesticate My LLC?
Domesticating allows your existing LLC to become an active entity under the new state’s laws and allows it to maintain its entity history, bank accounts, and EIN. It also has the advantage of low costs and it is relatively easy to do so. Plus, you will only have one location to worry about, avoiding the extra hassle of maintaining state requirements and paperwork in multiple states.
How Do I Domesticate My LLC?
The Domestication process varies from state to state, but in most states you will need to obtain a “Certificate of Good Standing” from the original state where your entity was filed. You will then file the “Certificate of Good Standing” along with the Articles of Domestication (Articles of Conversion in other states) with the new state.
Once the newly filed articles have been approved, you can then file to dissolve the old LLC in your original home state. You will want to do your research how the state requires you to dissolve your old LLC so there are no deadline or timeline issues that catch you off guard.
If domestication is not available there are other options available.