WITAXLADY Posted January 2, 2014 Report Share Posted January 2, 2014 ok this should be simple.. brain on vacation- really... WI -20, FL +80 so for work comp, need to know new name but for fed EIN , just keep same number when switching from a LLC to a S Corp... What would new name be? thx D Quote Link to comment Share on other sites More sharing options...
Jack from Ohio Posted January 2, 2014 Report Share Posted January 2, 2014 ok this should be simple.. brain on vacation- really... WI -20, FL +80so for work comp, need to know new name but for fed EIN , just keep same number when switching from a LLC to a S Corp...What would new name be? thx DMaybe this will help? http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Do-You-Need-a-New-EIN Quote Link to comment Share on other sites More sharing options...
WITAXLADY Posted January 2, 2014 Author Report Share Posted January 2, 2014 ok - this says a NEW LLC must get a new fed EIN - this is an existing LLC and it says it does not need to get a new fed Ein... BUT what about the name please... Quote Link to comment Share on other sites More sharing options...
kcjenkins Posted January 2, 2014 Report Share Posted January 2, 2014 Dee is asking about the NAME not the number. My suggestion would be this: LLC named XYZ LLC opts to change to a Sub S corp. I would then suggest to client that it change to XYZ Corp. I'd also advise them to send a letter to all their customer list, explaining, briefly, the name change. Quote Link to comment Share on other sites More sharing options...
jshtax Posted January 2, 2014 Report Share Posted January 2, 2014 It is XXXXX, LLC being taxed as a corporation that has made an s election. Quote Link to comment Share on other sites More sharing options...
jshtax Posted January 2, 2014 Report Share Posted January 2, 2014 Dee is asking about the NAME not the number. My suggestion would be this: LLC named XYZ LLC opts to change to a Sub S corp. I would then suggest to client that it change to XYZ Corp. I'd also advise them to send a letter to all their customer list, explaining, briefly, the name change. It cant change to corp(unless that change with the secretary of state.) The LLC vs. Corp is the type of legal entity formed with the state. The rest is just in how it is being taxed. Customers need to know nothing different. Quote Link to comment Share on other sites More sharing options...
jshtax Posted January 2, 2014 Report Share Posted January 2, 2014 My previous answers are assuming you are only changing the way the entity is being taxed. If you are changing the entity type then it becomes a legal issue not a tax issue. Quote Link to comment Share on other sites More sharing options...
kcjenkins Posted January 4, 2014 Report Share Posted January 4, 2014 It is XXXXX, LLC being taxed as a corporation that has made an s election. Where did you get that info? Dee's post said LLC changing to S Corp. If, in fact is IS an LLC taxed as corp now, no need to change anything else, that's purely a tax filing issue. But usually, using LLC in the Name without also including Inc, or Corp, suggests to the world that they are dealing with a partnership or individual. Which is why I always advised clients to send a W-9 to any business with just LLC in the business name. Quote Link to comment Share on other sites More sharing options...
Mr. Pencil Posted January 4, 2014 Report Share Posted January 4, 2014 What would new name be? Since the EIN is unchanged, I assume the entity is still the same LLC entity under state law (just electing to be taxed as a corporation now). Presumably there would be no reason to change the legal name. It could not, for example, be called ABC, Inc., because it is not actually incorporated. But if they like they could file a new D.B.A. (doing business as) name at the local county building. Then send out the letters KC suggested, and pretty much ignore the legal name. Quote Link to comment Share on other sites More sharing options...
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