Is it possible to move state of incorporation?

Talk to a lawyer who deals with corporate law.

 

My friend moved his 6 truck operation from CA to Houston,most of his freight goes between Houston and California.CA still sent him a bill for 18k,might want to check with CA to get moved out properly.

 

Shut down and start a new company. Sever all ties

Don't tell them where you're going

 

Is it just you? Or do you employ people?

Yeah you can move. States with low taxes would be better.

 

Can you say:

• Mississippi
• Alabama
• Georgia

Nevada is also probably worth a good look, too.

Later on -- you will likely want to kick yourself for not leaving CA sooner....

-- L

 

Asset transfer is where California will nail him, the reason why you get a lawyer and protect your butt because they can figure out how to sidestep the fascist state laws to take wealth.

 

Exactly. I probably could have done things better when I left WA. They charged me tax again because I had to transfer it into my name. I was shutting down the company and didn't have anywhere else to put it. Setting everything up in a new state first would have been better, but I was so ready to leave WA it was worth the cost. I had a construction company so it might not be apples to apples with the trucking world

 

California is ruthless about taxes. I know of one guy who moved out of SC to Nevada, what his lawyer did was setup the company in Nevada with no assets then leased the equipment from the existing company in California and had it all moved, waited for the depreciation to happen to transfer ownership for as buyout per the lease contract. I never asked how it was done but it save a few million in taxes.

 

I moved twice, transferring my S Corp along both times. Initially, I moved it from Illinois to Florida, and then from Florida to Ohio. Each time, I filed articles of domestication in the new state and submitted change of address forms to the IRS, DOT and bank. Didn't filed annual corporation reports in the states I moved from. That leading to the closure of the corporation there. The S Corp retained the same EIN, bank account, MC/DOT.
Some financing organizations considered my company a startup because Ohio provided them with the domestication date as the founding date.

Nott sure that's possible in each State.