New Federal Requirement: Starting January 1, 2024, most business entities in the US will need to report Beneficial Ownership Information.
I will be leasing a room in a sap as an esthetician and applied for business license as a sole prop., but now realize I should form and LLC instead. How do I switch? Do I have to reapply and cancel sole prop. license and do I need shop/salon license? Form says do not fill out if forming an LLC, but think at some point, I would need to have that as well.
Cathy,
Generally licenses are not transferable from entity to entity, in this case from the sole proprietorship to the new LLC.
In some very specific cases, a license renewal application will allow you to change the entity. It depends on the terms of this specific license.
(a) You made a typo in the card number, CCV code, expiration date, name or address;
(b) Your card balance is too low;
(c) Issuing bank has declined this transaction for some other reason related to your account.
