New Federal Requirement - Submit a Beneficial Ownership Information Report
New Federal Requirement - Submit a Beneficial Ownership Information Report
You know the saying, the only thing constant is change. That applies to business as well. For any number of reasons, you may need to convert your LLC to C-Corp, your C-Corp to an LLC, your LP to either a Corp or an LLC. We’ve done it all and we can put that experience to work for you to make your conversion as seamless and easy as possible.
An automated process backed up by knowledgeable and experienced business experts makes it easy.
Our team of specialists will gather your information over the phone. From there, we’ll get started on the foreign qualification process for you.
Then, we put our business experience to work to help you with the filing to make sure it is done right and done timely.
Once we complete the process, your documents will be uploaded to your secure online account, giving you anytime access.
Our knowledgeable staff has years of experience handling every type of filing for customers of all sizes. Do what you love, let us handle the paperwork.
Swyft Filings has completed thousands of conversions for our customers. We can put all that expertise and knowledge to work for you so you can get back to growing your business.
Through your secure online account, you can complete the process often with a few clicks of the mouse and then let our business professionals take over. With our automated process and expertise, we do it fast and do it right.
Rather than doing the research and figuring out exactly how to do the paperwork yourself, let our professionals handle it for you. Our mission is to take away the hassles of paperwork so you can build your business.
We know how important conversion is. Messing up this annoying administrative task can slow you down and cost you extra. Knowing that we’ll do it fast and right the first time allows you to get to work quicker and follow your passion while we do the paperwork.
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A conversion is the formal process of converting your entity from one form (e.g., LLC) to another form (e.g., Corporation).
There are a number of reasons you may need to do a conversion. Often, the entity type that made sense at creation may not make sense in your current state. Organizations convert because of different growth strategies, ownership structures, mergers, or new investor demands to list a few examples.
Converting your entity type may come with significant legal, tax and accounting implications.
Other than through a merger or a dissolution, the most popular way to do it is through a statutory conversion. Dissolving and forming a new company is expensive and complex. It can also result in significant tax implications as you have distribute the assets of one company and then form another. A statutory conversions usually requires a filing with the appropriate Secretary of State without the need to close down or form a new entity. The exact requirements vary by state, but our team of professionals know exactly what you will need to complete your conversion including both the documentation and where it needs to be filed.
Instead of being an LLC, by way of example, your company would then become a corporation—or vice versa. While that has legal and accounting implications, for all intents and purposes everything else remains the same. The assets and liabilities all remain within the same entity and it simply continues as the new entity type. If you are foreign qualified in a number of states, you may need to make updates in each state with an amendment.
Converting business types shouldn’t be done lightly. Arm yourself with the knowledge necessary to make the right decision for your business with Swyft’s Resource Center.
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