Is it possible to move an Oregon LLC to Florida? Yes, it is. In fact, many people do it. Oregon is a wonderful state to live in; however, some Oregonians prefer to live in Florida to enjoy its sunny weather and friendly business environment. If you are a business owner who wants to move to Florida, you may be wondering how to take your LLC with you. The good news is that there is a simple and convenient way to do that. It is called a statutory conversion.
In essence, a statutory conversion is a legal way to change your LLC’s home state without dissolving it or creating a new one. This allows your LLC to keep its name, identity, history, and assets and yet become a Florida-based entity. A statutory conversion also saves you from the trouble of closing your accounts, canceling your contracts, and transferring your assets manually.
How Does a Statutory Conversion Work?
A statutory conversion is a direct way to relocate your LLC from Oregon to Florida. You do not have to dissolve your previous LLC or create a new one in Florida. To change your LLC’s formation state to Florida, all you need to do is follow the conversion process. Your business can continue operating as usual, without any interruptions or disruptions, and it will retain its EIN, management style, and property rights from its time in Oregon. The only difference is that your LLC will now be treated as if it was a Florida LLC from the start.
However, you might have to change your business name if it is already in use by another company in Florida. To avoid this issue, we recommend conducting a name search on the Florida Division of Corporation’s records database before completing the conversion process. If you find an available name that you like, you can reserve it for 120 days. You can do this online or by mail.
The first step in moving an LLC from Oregon to Florida using a statutory conversion is to prepare a plan of conversion. This document essentially outlines how your business will be transferred to Florida. You must obtain the approval of all LLC owners (also known as members), who must sign the plan of conversion. You must then draft and file the necessary documents with the relevant state agencies in both Oregon and Florida. It is crucial to follow the conversion statutes of both states carefully to avoid any mistakes, as they can be costly and time-consuming.
How Does Moving My Oregon LLC to Florida Affect My Business?
A statutory conversion allows for the relocation of your Oregon LLC to Florida without significant business changes. You do not need to dissolve your Oregon LLC or create a new one in Florida, and there will be no interruptions. Also, your Florida Articles of Organization will replace your original founding documents, and your LLC will retain its EIN, real estate or property rights, and ownership structure. However, any liabilities or lawsuits against your Oregon LLC will also transfer to Florida, so it is essential to keep this in mind when determining whether you should move your company to Florida.
Do You Need to Move an Oregon LLC to Florida? We Can Help You
Moving your LLC to Florida can bring significant benefits to your business; however, it requires careful planning and preparation. You must weigh the pros and cons of relocating to another state and follow the appropriate procedures to ensure that your LLC remains compliant and valid. Fortunately, you do not have to navigate this process alone.
At Jurado & Associates, P.A., we are committed to providing you with a seamless and stress-free conversion experience. We understand that the process can be overwhelming, which is why we will be by your side every step of the way, offering customized solutions that are tailored to your specific needs and objectives. If you encounter any legal issues during the relocation process, we will work tirelessly to safeguard your interests and help you achieve the best possible outcome.