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Wallstreet Esq.
Wallstreet Esq., Tax Attorney
Category: Tax
Satisfied Customers: 586
Experience:  10 years experience
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What do I need to do to move my C corporation from

Customer Question

What do I need to do to move my C corporation from California to an LLC in Nevada. My corporation has no assets or liabilities but has a $1 million tax loss carry-forward. Thank you....
JA: Can you tell me what state the LLC is registered in?
Customer: My CA corporation is a C corporation. But I want to move it to Nevada and convert it to an LLC. Thank you....
JA: Has anything been filed or reported?
Customer: My California C corporation was created in 1993 for the purpose of acquiring daily newspapers. Sold those newspapers 20 years ago and the corporation has been non-operating since then. But do file CA state and U.S. tax forms every year and pay an $800 CA franchise tax every year. Thanks...
JA: Anything else you want the lawyer to know before I connect you?
Customer: No.
Submitted: 4 months ago.
Category: Tax
Expert:  Matthew Breecher replied 4 months ago.

Hello, I would like to help you with your question. First, I should state that it is very difficult to change from a corporation to an LLC. This is only allowed in some states and, if you desire to be an LLC filing as a corporation to maintain the carry-forward, the tax reporting will not change. So, can I ask a few questions...

...

First, why do you want to change to an LLC? Second, why move the entity to Nevada?

Expert:  Matthew Breecher replied 4 months ago.

Hello, would you still like assistance with your question?