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Old 09-07-2013, 01:09 PM
 
5,640 posts, read 14,432,282 times
Reputation: 2742

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Hey all,
I just moved from Texas to St. Louis and want to provide my services to the local area. Some questions:

Notes:

I currently have a corporation (my dad is listed as owner).

1.) We want to transfer the ownership from my dad to myself. How do I do this?

2.) Should I keep the entity as a corporation or should I convert to an LLC? The only person that will own and work for the company will be myself.

3.) I also would like to change the company name.


Thanks!
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Old 09-07-2013, 01:13 PM
 
Location: SW Missouri
15,849 posts, read 31,796,848 times
Reputation: 22481
Quote:
Originally Posted by doss1 View Post
Hey all,
I just moved from Texas to St. Louis and want to provide my services to the local area. Some questions:

Notes:

I currently have a corporation (my dad is listed as owner).

1.) We want to transfer the ownership from my dad to myself. How do I do this?

2.) Should I keep the entity as a corporation or should I convert to an LLC? The only person that will own and work for the company will be myself.

3.) I also would like to change the company name.


Thanks!
I would just form a NEW LLC and incorporate it under the laws of Missouri. It will be much cleaner that way.

20yrsinBranson
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Old 09-07-2013, 01:29 PM
 
5,640 posts, read 14,432,282 times
Reputation: 2742
Quote:
Originally Posted by 20yrsinBranson View Post
I would just form a NEW LLC and incorporate it under the laws of Missouri. It will be much cleaner that way.

20yrsinBranson
Do you know how much it costs to form an LLC in MO?
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Old 09-07-2013, 01:38 PM
 
Location: On The Road Full Time RVing
2,342 posts, read 3,078,033 times
Reputation: 2226
.
Better get a lawyer who knows how to do this legally.
.
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Old 09-07-2013, 01:39 PM
 
Location: TX
795 posts, read 1,271,546 times
Reputation: 784
Transferring the corporation to your name will constitute a sale or gift and there may be tax consequences.

What type of business is this?
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Old 09-07-2013, 01:43 PM
 
5,640 posts, read 14,432,282 times
Reputation: 2742
Quote:
Originally Posted by celcius View Post
Transferring the corporation to your name will constitute a sale or gift and there may be tax consequences.

What type of business is this?
web development
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Old 09-07-2013, 02:27 PM
 
19,247 posts, read 58,454,222 times
Reputation: 35040
I would form a new subchapter S corporation AFTER consulting with a CPA.
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Old 09-07-2013, 06:53 PM
 
Location: SW Missouri
15,849 posts, read 31,796,848 times
Reputation: 22481
Quote:
Originally Posted by doss1 View Post
Do you know how much it costs to form an LLC in MO?
Not that much, we have 3 of them. I think the filing fee is $125, and whatever your attorney charges you if you don't "do it yourself".

20yrsinBranson
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Old 09-07-2013, 07:19 PM
 
171 posts, read 196,113 times
Reputation: 38
Quote:
Originally Posted by doss1 View Post
Hey all,
I just moved from Texas to St. Louis and want to provide my services to the local area. Some questions:

Notes:

I currently have a corporation (my dad is listed as owner).

1.) We want to transfer the ownership from my dad to myself. How do I do this?

2.) Should I keep the entity as a corporation or should I convert to an LLC? The only person that will own and work for the company will be myself.

3.) I also would like to change the company name.


Thanks!
what are the services you will be providing?
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Old 09-07-2013, 11:23 PM
 
171 posts, read 196,113 times
Reputation: 38
Quote:
Originally Posted by embe View Post
what are the services you will be providing?
I am asking to help better my understanding how a corporation works.
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