Moving Your Business

If you are moving your business to a new location, whether within the same state or to a new state, there are a number of things you need to update with your corporate documents and registrations.  If your address isn’t current, you may miss out on important notices sent via mail and in some instances, your LLC could be suspended for not providing the correct information. 

The process you need to go through varies with whether you are moving locations within the same state or moving your business to a new state.  This is one of the many things we support our clients with here at Empowered Profit.  If you are already working with us, let your OFM know about your move and we can support you through this process. 

If you are moving within the same state: 

You will need to update your address with the IRS, state & local tax agencies, payroll company, bank & merchant accounts, with any licenses you hold, and in your LLC documents. (On the personal side, as you are updating things there – don’t forget about your voter registration!) 

For the IRS: You will file Form 8822-B (linked here) with the IRS to let them know about your new address.  You will also have to update your address on your next tax returns, so make sure your tax preparer knows about your move. 

State & Local Tax Agencies: Updating your address with the IRS doesn’t update it for your state tax department, so you will need to do that separately. If you Google Your State + Changing Business Address, you should be able to find the information on your state website on how to make the updates needed.  You can also call them directly and ask them to point you in the right direction.  

Payroll Company:  Let your payroll company know that your address has changed so they can update your records and change any local taxes that are currently set up for you.

Bank & Merchant Accounts: Be sure you update your address with your bank, credit card, and merchant accounts, even though you are probably receiving everything via email from them, you will still want to update it with them as well.   

Licenses: If you have any licenses that you use in your business, you will also want to contact that licensing agency to let them know about the address change.

In your LLC documents: Your LLC documents should reflect your most up to date address, so an amendment should be filed to show the change of address.  We recommend working with CorpNet on drafting this to be included in your documents.  (See bottom of article for the link to CorpNet)

If you are moving to a different state:

If you are moving to a new state, the process is a little more complicated, because you will also need to register your business in the new state.  (On the personal side, as you are updating things there – don’t forget about your voter registration!) 

New State Registration: You won’t have to get a new TAX ID number or new bank accounts, thankfully – but you do need to register your business with the new state and also terminate your business in the old state.  You can work with CorpNet on this. (See more info on them below)   

CorpNet will walk you through the process of creating the new LLC in the new state, and then you can follow the steps above to also change your address with the IRS, state/local tax agencies, banks, payroll company, and any licenses (also check to see if you have to update more than your address to keep your license current).  

When you are talking with CorpNet, also have them update your Registered Agent information to your new state. We have a full post on Registered Agents here if you want to learn more about those.   

You can contact Amanda at CorpNet via email to aberen at corpnet dot com.  Tell her Empowered Profit sent you, and she will take great care of you and walk you through everything. 

Need our support with making sure your tax strategy stays up to date with your move?  Book a call with us today and we will help you get it all sorted out!

 

This is provided as information only and as a starting point for a conversation with your own legal and accounting team, this should not be considered legal or financial advice.  All of these decisions are based on a number of factors and we cannot guarantee that you will experience any specific results based on any information provided. Please speak with your own retained professionals to ensure that you are making the best decisions for your business & personal situation.

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