Purcellville, VA asked in Business Formation for Virginia

Q: How can a Virginia LLC (sole prop.) convert to a corporation with 4 family member board with shares distributed equally?

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1 Lawyer Answer

A: Talk to an attorney about the best way to do that: there are multiple options, depending on what you are trying to accomplish other than a "simple" change of form. Make sure you talk to your attorney about how your operating agreement and bylaws may need to change as you move to articles/certificate of incorporation, corporation bylaws, and the legal differences between a corporation and a LLC, and (3) talk to a CPA or tax attorney about the different available tax treatments of the new entity.

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