RELOCATING YOUR BUSINESS? DON’T DISSOLVE IT—DOMESTICATE IT

Relocating a business to a new state does not necessarily require the dissolution of the existing entity. Through a process known as statutory domestication, a company can change its legal home while preserving its original formation date, EIN, and existing contractual obligations. This post explores the primary advantages of domestication and outlines the general steps required to ensure a seamless transition between jurisdictions.