Legal Question in Tax Law in California
Moving Our Incorporated Business from NY to CA
We recently moved to California from
New York. We'd like to move our
incorporated business to California
and avoid the necessity of New York
tax returns. How is this
accomplished? A thorough
exploration of California's Secretary of
State website was not helpful.
Much thanks.
2 Answers from Attorneys
Re: Moving Our Incorporated Business from NY to CA
As a starting point, it is worth noting that if you are now operating the business in California you would have file for and qualify as a foreign entity doing business in California anyway, which can be a lengthy and complicated process. So, it often makes sense to just incorporate in California. We often advise clients to set up subsidiary corporations, but it sound like you want to simplify things on the tax side. Depending upon the form of the NY business, i.e., LLC, S-Corp, etc., your options will vary. Dissolution of the NY corp may be an option, but again, we would need more information before being able to give you all of your options. Feel free to contact me if you would like to discuss further.
Yours truly,
Bryan
877.201.8728
619.400.4929
Re: Moving Our Incorporated Business from NY to CA
Normally, an out of state corporation doing business in CA needs to file a document stating so. However, it appears that you are leaning more towards closing the NY corporation and opening a new CA corporation under the same name.
Our office can certainly help you accomplish this goal.
If you would like assistance, please feel free to contact me at the email provided by LawGuru, or through our firm's site at No-Probate.com.
Scott
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