Q: Is a corporate conversion permissible from NY corp. to another jurisdiction? Statute silent.
Need to convert a NY corporation to a Florida entity
A:
To my knowledge you cannot convert a corporation established in one state to become a corporation in another state. However, there is a way to accomplish your goal of moving the corporate structure from NY to Florida.
I suggest that you consult with a business attorney to discuss the procedures and steps to take. (There is a provision under the IRS code to allow the assets of one corporation to become / transfer to a new corporation so that for purposes of the corporate existence and the asset history it keeps the past in tact and just brings over the assets to the new corporation established in Florida). You may need to involve a CPA in this process as well.
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.
