| John, We've done our research on changing the form of the business to a PLLC. We discovered that we can begin the new company without closing the old one. We also discovered that we cannot "terminate" the old entity until its taxes have been paid. It seems to make sense that while we have the PC books open until individual client accounts are transferred to the PLLC (or closed), and taxable revenue is accounted for, that when we "pay our taxes" for the 2011 calendar years, the PC taxes have then been paid which would allow us to file Articles of Termination upon filing the tax returns. Is that right? We're trying to keep the apples straight from the oranges (State Corp Commission requirements vs IRS requirements). We also may be using this event to switch banks, from Capital One to Burke and Herbert. (What is your opinion of B&H?) So we'd sort of like to file for the new entity (PLLC) with the Commonwealth before the end of the tax year to have everything in place, including a new EIN and bank accounts, so that we can begin doing business as a PLLC as of 1 Jan 2012. What are we missing to make sure the cart doesn't end up in front of the horses? Neal Neal A. Puckett, Esq LtCol, USMC (Ret) Puckett & Faraj, PC 1800 Diagonal Rd, Suite 210 Alexandria, VA 22314 703.706.9566 The information contained in this electronic message is confidential, and is intended for the use of the individual or entity named above. If you are not the intended recipient of this message, you are hereby notified that any use, distribution, copying of disclosure of this communication is strictly prohibited. If you received this communication in error, please notify Puckett & Faraj, P.C. at 703-706-9566 or via a return the e-mail to sender. You are required to purge this E-mail immediately without reading or making any copy or distribution. |