Forums: Discussions for entrepreneurs and small business.

Hi, I have a question regarding LLCs.

I have had a business as a Sole Prop. for about 5 years now. I wanted to form an LLC for protection, now that the business is actually making a little money! However, I may run other businesses under the same LLC in the future, so I didn`t want to just convert my existing business -- though now I`m thinking that`s maybe what I should have done?  

So now I have my LLC set up (with a different name from the business), and how do I make the LLC the owner of the existing business? I can`t seem to find any info about this -- all the info on LLCs that I have read just tells how to set one up (already done), or how to convert an existing business, which I didn`t want to do!

Should I just scrap the whole thing, dissolve the LLC, and start over (converting the Sole Prop. to an LLC), and write off the couple hundred dollars I have already spent on incorporating? (Which I hate to do, as it will be another month or two, and I wanted the LLC start date to be Jan. 1.)

I`m very confused, and can`t afford an attorney or accountant, so any  info would be much appreciated!

Thanks!
Rose.

Rose dance, In your Minutes..
When you sit down and do your resolutions, address that issue. That your LLC will be taking over the Soleproprietor. It would be a good Idea to write to all your customers telling them that there will be a small change.
Then what you do is you go down to the registrar and your Create a DBA under your LLC... Example: My LLC DBA my sole proprietor. 
What you are going to need is time. Calling the IRS, Banks and so forth

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Edgar Monroy
Web Developer / Owner / Consultant
When starting your own business the need to "know-how" is greater than money!
http://www.nuevolution.net

Thanks for your response, Nuevolution!

My question is, how do I actually make the change? (Who do I contact, etc?) Is it the state of OH, like when I moved here and set up my DBA in this state?  I already have a business bank account and all that stuff -- do I just need to change the name on it to my LLC instead of mine?

Thanks for your help! It all seems so much more confusing than when I started my business, for some reason!
Rose.

Rosedance,
I will talk to my CPA today and see what he tells me.. I will get back to you shortly.

-------------------------

Edgar Monroy
Web Developer / Owner / Consultant
When starting your own business the need to "know-how" is greater than money!
http://www.nuevolution.net