What Happens to Your LLC When You Move to a New State
Jul 25, 2023
As a solo business owner, when you move, your business has to move, too. I just moved across state lines and I'm going through the process of moving my LLC from New Hampshire to Maine, so I thought I'd give you a rundown on the process as I'm doing it. Tune in to hear the three options for moving your LLC and a little insight into my experience as I go through it.
Key Takeaways
- You have to register your LLC in any state where you operate (aka, have an office). If you don't, you could face fines or even a misdemeanor
- If you're moving on a temporary basis, you can keep your LLC as is in your first state and register as a foreign LLC in your new state. Once you move away, you can withdraw your foreign status. Just remember, you'll have two annual requirements and fees while you're registered in both states.
- If your move is permanent, you can domesticate your LLC in your new state, kind of like changing the legal residency of the LLC. This allows you to continue operating without any interruptions
- Moving your LLC is extremely state-specific and kind of complicated, so I recommend getting a local lawyer to help you out!
Resources Mentioned
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