Virginia Makes Redomesticating Foreign LLCs Easy
Posted in on February 5, 2012
You form an LLC out of state, but due to a relocation or other changed circumstances, you find yourself (and your business) in Virginia. Is it necessary to pay multiple states' annual fees, taxes, and other entity maintenance costs? Perhaps so if you have a business presence in multiple states, but often it is not required and a business owner could enjoy meaningful cost savings by relocating or redomesticating their out-of-state entity to Virginia. So long as the "other" state in question has a reciprocal redomestication provision in its LLC law, the process in Virginia is quite simple. Articles of Domestication and a Plan of Domestication are filed in both states with the required filing fees ($100 in Virginia), and the out-of-state LLC officially becomes a Virginia LLC. This is not a taxable event. A new EIN is not required. Contact Eric Perkins for a free discussion and flat fee quote to redmomesticate your foreign LLC to Virginia.