LLC owner of business?

rosedancerosedance subscriber Posts: 1
edited February 2007 in Thought Leadership
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.

Comments

  • NuevolutionNuevolution subscriber Posts: 30 Bronze Level Member
    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
  • rosedancerosedance subscriber Posts: 1
    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.
  • NuevolutionNuevolution subscriber Posts: 30 Bronze Level Member
    Rosedance,I will talk to my CPA today and see what he tells me.. I will get back to you shortly.
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