Started ticket broker business in IL, want to move to AZ what procedures are involved in moving business
I recently started a company in Chicago IL in the business of buying and selling event tickets. I am currently incorporated in Illinois but I am considering a move to Arizona in the near future. I need advice on how to legally move my business to Arizona (where ticket broker laws are more lax) so that I no longer have ties to Chicago.
Additional information
I already incorporated as an LLC in IL earlier this year, before I realized many reasons not to incorporate in IL. I have to pay sales tax on all of my sales to customers in IL, which is a majority of my sales. However, I do not need to be in IL to make sales to all of my customers in IL, as all sales are done over the internet. My question is, if I move my business, or incorporate a new business in AZ, can I cut all ties with IL even though I will still live in IL?
Attorney answers (2)
Sean M. Sweeney
Reputation Level 8
Answered over 3 years ago.
Business Attorney in Milwaukee, WI.
I am not exactly sure what you are looking for, but I am believe it should not be an issue. If you want to start to do business in another state you have a couple of options. If you are simply a sole proprietor and have not created any kind of business entity, then simply move to AZ and start doing business.
However, if you want to protect your personal assets in the event of a lawsuit etc. then of course you need some kind of legal entity to act as a shield. I do not practice in AZ, but generally speaking in most states an LLC is the preferred form of business. You have the option of either maintaining your registration in IL and registering as a foreign LLC or Corporation in AZ, or of simply dissolving your entity in IL and going to AZ and forming a new business.
If i am way off on this analysis, and you do all of your business on-line and you think that an AZ LLC or Corp will make things easier for you, then what you need to do is still the same as above, only you need to find a law firm or company that is willing to act as a registered agent for you in Arizona.
Good luck to you, as always this does not represent legal advice, it is merely my assessment of what your options may be based on the limited facts provided.
2 people marked this answer as good
Majdel Sami Musa
Reputation Level 8
Answered over 3 years ago.
Bankruptcy Attorney in Chicago, IL.
You can dissolve your Illinois LLC and establish an entity in Arizona. You will have to find an AZ licensed attorney to do so.
Technically though, you are supposed to register your entity as a foreign corporation in all the states in which you do business, which also costs money. You may still have to pay sales tax in those states, but most likely at a lesser percentage.
Consult with an attorney and an accountant to get a definitive answer.
2 people marked this answer as good
Other answers (2)
ryan
Answered by a user, over 3 years ago.
I already incorporated as an LLC in IL earlier this year, before I realized many reasons not to incorporate in IL. I have to pay sales tax on all of my sales to customers in IL, which is a majority of my sales. However, I do not need to be in IL to make sales to all of my customers in IL, as all sales are done over the internet. My question is, if I move my business, or incorporate a new business in AZ, can I cut all ties with IL even though I will still live in IL?
2 people marked this answer as good
ulsterfield
Answered by a user, almost 3 years ago.
One note: In terms of dissolving the Illinois LLC and establishing an entity in Arizona, I was told that you wouldn't be allowed to do that unless you actually live in AZ or have an office there, because LLCs must be registered in the state "in which they primarily do business." If you're running this business from home on your computer, then your primary business address is your home address, which, at least right now, is in IL.
2 people marked this answer as good
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