There are a lot of things that need to be taken care of when re-locating your business to a new state: selecting a new location, understanding local market, writing business plans, and more. However, with proper planning, you can minimize the stress of this process. Here are some tips on how to deal with paperwork that might make at least some aspects of the moving process go more smoothly:
- If you are a sole proprietor, the main thing you will need to do is file a “doing business as” name registration in your new state, which you can easily find directions for online.
- If you are relocating as a corporation, you have a few different options for handling registration paperwork:
- Keep your registration as a corporation in your previous state, and also register as a foreign or outside corporation in the new state. However, this can be an expensive option because you might have to pay fees in both states.
- Dissolve your corporation status in your former state and establish a corporation in your new state. However, this option might have an effect on employee benefits or have expensive tax consequences.
- Establish your corporation in the new state, and then merge your old corporation with it. This option will eliminate the need to pay fees in both states, and can allow for tax-free reorganization.
Understanding your options and what is required of you—and maybe even talking to a lawyer—when it comes to this kind of paper work can help your business transition more easily to a new state.