Though changing from a corporation to an LLC is rare, it can have advantages for some businesses. Here’s what you need to know:
How do I change entity types in Nevada?
In Nevada, you can file articles of conversion to change your business from a corporation to an LLC. However, before you file anything with the state, you should create a plan of conversion for your company. Changing your business entity type means changing fundamental aspects of your business structure, like who owns your business and how they get paid—so creating a well-thought-out plan of conversion is key.
NOTE: You’ll be required to verify the existence of your plan of conversion when you file your NV articles of conversion.
What are Nevada Articles of Conversion?
If you have a registered business in the state of Nevada and you wish to switch entity types, you’ll need to file Nevada’s Articles of Conversion form. Luckily, Nevada is one of a handful of states with a process known as statutory conversion, which—unlike nonstatutory conversion and statutory merger—means the state helps businesses transfer information from one entity type to another.
Do I need to dissolve my Nevada Corporation?
No. If you file articles of conversion the state will recognize the change of entity type without you having to file for dissolution or register an entirely new business.
Can I keep my registered agent during conversion?
Yes. Filing articles of conversion allows you to retain many aspects of your business, including your registered agent.