How hard is it to move a business?

[AshanD]

Hi,

I am based in CA and own an online business. I was originally planning on moving to NV in a couple months where I would then be able to incorporate, but now it doesn't look like that will be feasible. I may have to stay in CA for another year or so.

I was wondering what happens if I incorporate in CA and then try to move to NV. To be clear, I plan to move to Nevada as well as move all business assets and operations there. Even so, will CA still try and tax me (as a CA registered LLC?)

 

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[GlobalWealth]

As a service business, you just need to form an LLC in NV and move the assets to the NV LLC. Then close the CA LLC. I am not sure where you are getting the idea this is not feasible, but this can be done in a matter of days. You could actually move the business to NV and stay in CA. Maybe there is more to your situation than your original post suggests, but this is easily doable. Whatever you do, if you are moving to NV, do not form an LLC in CA. CA state filing fees are much higher and you may be liable for taxes there. If you live in NV with a NV business, you have no CA tax liability. I can help you set up the NV LLC and create the proper structure if you need help.

 

[hatterasguy]

Its not that hard ask your attorney he will set it up for you.

 

[henry]

AshanD, even if you incorporate in NV, you will still be subject to CA tax if you operate in CA. Let me know if you need any help, I recently incorporated my medical device company in CA as a C Corp (to be S Corp). There's a 1 year grace period for the $800 minimum franchise tax for Corps in CA, unlike LLCs. My email is henryzliao at stanford.edu

 

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