Transferring company to different state?

Discussion in 'Ask An Owner Operator' started by zaroba, Mar 23, 2022.

  1. zaroba

    zaroba Heavy Load Member

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    Aug 28, 2012
    South East PA
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    Anybody done it before?

    Moved from PA to MD so working to get stuff transferred over and wondering what to do with my company.

    Contacted legalzoom since I went through them to set up the company. They said the 2 options where to dissolve my LLC and recreate it in MD (which I assume will mean new insurance and reregistering my truck since both are in the company name). Or going through an attorney to relocate the company.

    I no longer have a physical address in PA though unless I use a family members address or maybe buy a cheap plot of land to use as a physical address but have the mailing address be my house in MD. Wouldn't need to transfer my DOT address, insurance, or truck/trailer registration then.

    What did any of you do when you moved to a different state?
     
    Last edited: Mar 23, 2022
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  3. kranky1

    kranky1 Road Train Member

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    Ontario, Canada
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    Lawyers office, it’s a common practice. You’re legal as long as the LLC has a physical address to serve papers to in the LLC’s domicile jurisdiction. Mailing address can be anywhere, you just run the LLC as always, from wherever you are. A lot of companies live in a filing cabinet in a lawyers office somewhere, when their physical operations are in a different state.
     
  4. Dino soar

    Dino soar Road Train Member

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    Dec 8, 2017
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    The way that I understand it if your LLC is in one state and you live in another state you get taxed twice.

    The other thing is if you use any address for the insurance company other than actually where your truck resides/ or where your driver's license is and they find out, they can either give you a bill for any difference in insurance, or they can deny any claims, or I suppose they can even cancel your policy if they choose to.

    So my point is wherever you are at that's where you went everything to legally be.

    If it were me I think I would probably want to speak with whoever does your taxes and see if there's any tax problem or advantage of closing one company and changing everything over to the other name, because in essence you are selling your equipment and then repurchasing it. They could probably tell you if there are any tax issues or benefits to doing that and whether that would offset the price for the attorney.

    Of course I would also check with some attorneys because I have no idea what they would charge you but maybe it's not that expensive since it's just paperwork.
     
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