I am moving from NY to Boston - should I relocate my LLC from NY to MA?

It depends on various factors.

  1. Most important to understand is your state nexus rules for various types of taxes depending on your industry eg: Franchise tax, sales tax. Each state has different nexus rules.
  2. Is this move permanent or only for a short duration?
  3. Do you have clients, sales professionals, employees or physical office locations in both these states?
  4. What are your current annual sales? If your company is still in initial stage with not much activity, closing and reopening in your new state may be easier.

There are few other points to take note of. In your situation, I would highly recommend you consult with a CPA or tax professional who can evaluate your tax and payroll compliances.

You will receive notices & unnecessary costs to deal with if the business move is not managed properly.

 

** Based on our response to a post on quora.


Posted In: Company Formation

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