Have you moved to Pennsylvania after previously forming your LLC in a different state? If so, you are likely considering moving your LLC to Pennsylvania. How do you move your out of state LLC to Pennsylvania? Well, this can be accomplished through the domestication process.
Moving Your LLC to Pennsylvania
Under Pennsylvania law, an out of state LLC can move to Pennsylvania through the process known as “domestication.” Domestication is a process where the state assists a business moving from one state to another. While not all states offer domestication as an option to relocate a business, Pennsylvania is one that does. This is fortunate because, while you may be able to go through foreign registration or restarting your LLC in Pennsylvania to move it, domestication is far easier and less costly.
The process of domesticating your LLC in Pennsylvania begins with filing a Pennsylvania Statement of Domestication form. The domestication form should include an attachment called the “Docketing Statement.” The Docketing Statement registers your LLC as a taxable entity in Pennsylvania. Filing the form will also require the payment of a $70 filing fee. You can file the forms through the state’s online filing system. If you prefer, the forms can also be printed out in hard copy and mailed to the Bureau of Corporations and Charitable Organizations.
You may even be able to retain your LLC name when domesticating it in Pennsylvania. In order for this to happen, you should first check to see if your LLC name is available in Pennsylvania. You can do this by checking with Pennsylvania’s Business name search. If your name is free, then you can file for domestication and retain your LLC name in Pennsylvania. Be aware, however, that if your name is already being used by a registered entity in Pennsylvania, you will not be able to use it if you choose to domesticate your LLC in the state.
Remember, while domestication is often the preferred way to move an out of state LLC to Pennsylvania (as it can be much simpler and cost effective) it is certainly not the only way you can handle relocating away from the state in which your business was formed. For instance, you could continue conducting business in Pennsylvania while your LLC remains registered in a different state. To do so, however, the Pennsylvania Bureau of Corporations will need you to file a Foreign Registration Statement. Be aware, however, that conducting business in Pennsylvania while your LLC is still registered in a different state could result in you incurring state fees in two states. Additionally, you may be faced with double taxation.
Business Law Attorneys
Are you considering moving your business to Pennsylvania or conducting business within the state? If so, talk to the team of dedicated business law attorneys at Jones, Gregg, Creehan & Gerace about your options. Contact us today.