Posted in Business & Corporate Law

If you are looking to relocate your business to Florida, we suggest using a statutory conversion if this option is available. A statutory conversion transforms your state’s LLC or Corporation into a Florida LLC or Corporation, and the EIN, property deeds, and management structure generally remain the same. The conversion process is much simpler than forming a new entity and winding down the old entity. For this to be possible, both states must have laws permitting this type of conversion. For the conversion to occur, you file Articles of Conversion along with either Articles of Organization (for an LLC) or Articles of Incorporation (for a Corporation) with the Florida Department of State’s Division of Corporations (commonly referred to as Sunbiz). Additionally, Florida law requires that a Plan of Conversion be drafted and approved for proper corporate governance. Once the Articles of Conversion are accepted, you may need to dissolve your business entity in the previous state.