Q: Good evening, I have a business name registered as a not for profit in NYS. Can I change it to an LLC?
I registered the name in New York State as a not for profit organization. I have not done anything thereafter--all I have is just the name. However, I realize that I would rather have a LLC instead. How can I change the name to a LLC? Or must I come up with another name and register it as an LLC? My goal is to make profit, but I also want to help people.
A: You say you registered a "name". And, in another place, you call the existing not-for-profit entity an "organization." Even if it were an LLC, you need to form a new LLC since that entity was formed and exists under a special provision of the law. If there were significant financial issues, we might be able to come up with another solution, but you should simply dissolve the present corporation and create an LLC. Dozens of reputable companies will do this for a modest price.
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