I was wondering if anyone can give me advice on how to do this. I live in Michigan which currently has no provisions to convert a corporation into a limited liability company or vice-versa.
I have been informed that there are indirect methods available to change entity type, but each has advantages and disadvantages, I was told to contact a CPA or a lawyer, but Yahoo Answers is close enough. :)
I also need to change my business name, if anyone can help me with this I would greatly appreciate it.
I need to change my LLC to a corporation.?
Well an LLC is a Limited Liability Corporation and has a lot of advantages over a true corporation unless you are going to a Sub - S Corp. Changing to a real corporation will mean that your income will be distributed through non deductible dividends which will be taxed by you and that your company income will be subject to income taxes before the issuance of those dividends. In a LLC you can just move the income over to you via a K1 and advoid the double taxation.
A CPA (I am one) is your best bet because the tax issues are of the most importance here. If you make the decision to change then you may or may not need a lawyer.
I need to change my LLC to a corporation.?
www.bizfilings.com
Go on line and look up the Department of Regulation and Licensing for the state of Michigan. Follow the prompts and you can find anything you need including the paperwork to fill out in order to change your entity and business status. Good Luck with your corporation from one Michigan native to another.
