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NCMEDIC

Transferring an LLC

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First, let me start off by saying this is my first post on Escapees.   We are experienced RV'ers, and plan to start fulltiming in approximately 4 years.   That should be enough time for my Type A mind to take care of all the pesky details........   LOL

We currently have an LLC in North Carolina, but I was curious if it is possible to transfer that existing LLC to Montana for tax purposes after retirement.   We have a drone photography business and there is very little equipment to move, so that isn't an issue.

I'd like to take advantage of the tax structure in Montana without going to the expense of starting a second LLC, if possible.

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On 6/15/2017 at 3:37 PM, NCMEDIC said:

I'd like to take advantage of the tax structure in Montana without going to the expense of starting a second LLC, if possible.

I would agree with Steve & Karen except that you may not want to move it to Montana since they do have a state income tax. If that is important to you then TX, SD, or FL would be a much better choice and I'd suggest moving your other domicile-related things to that chosen state as well. Tax issues are by far the most common issue when one changes domicile so professional legal advice is probably in order.

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You cannot transfer LLC's from state to state.  It will always be a NC LLC.  You can register it to do business in MT but you then would have to renew it each year in both states.  Best to shut it down and create a new MT LLC.

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On 8/3/2017 at 9:08 PM, RV Vagabond Jerry said:

You cannot transfer LLC's from state to state.  It will always be a NC LLC.  You can register it to do business in MT but you then would have to renew it each year in both states.  Best to shut it down and create a new MT LLC.

Exactly. Consult with your accountant and/or attorney. Our CPA had us shut ours down and start a new one in the new state when we moved.

-Jim

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