Actually, this should be fairly simple if you are the only board member/officer/shareholder
The steps are the following:
Have boards of directors and shareholders of both companies approve the merger.
File merger forms with your secretary of state.
In most states, merging two companies into one is considered a simple reorganization, hence, tax free
Do be aware that the creditors of the company that becomes subsumed into the other will still have claims against the new, post merger corporation. Just because the name disappears doesn't mean liabilities disappear as well, ALTHOUGH they will still be liabilities of the corporation, as long as you do those things that prtect the corporate veil...... being sure that you recognize the interest income as an individual for example and don't commingle personal and corporate assets.
Here's the Utah form for merger
Articles of Merger
It would also be a best practice to have a loan instrument in place between you and the corporation
Is the "recognize the interest income as an individual" a general example of protecting the corporate veil? Their is no personal liability for any of the income.
Just showing that you're not giving any below krket rate loans to the company
There's something called the "alter ego" theory in corporate law.... which says...
IS there's evidence that your company is really just you (an "alter" ego of you) then that corporate veil is pierced, subjecting you, personally, to creditors, lawsuits, etc. of the corporation
By here, just doing the merger, is not a taxable event ... and ...
If you are the only director/officer/sharehold sas simple as filing the articles of merger with the state
And the IRS is ALWAYS ok allowing corporations to be merged if owners are the same?
Oh sure, mergers are state law issues. Now, there could be taxable events if there was a sale, or liquidation, etc, but here, there is no cash or ownership changing hands
As you work through the Utah merger form I linked for you, you'll simply have to decide (and I don't see any effetive different here) which corporation is merging into which
After that, there will only be one 1120 to file, that's the only tax different... Utah SOS will notify IRS and they will not be lookng for a return from the merged corporation
Thank you. This is helpful.