Easiest way for an existing S-corp to change to an LLC? The S-corp has minimal assets – tools, a car, etc. Nothing has appreciated in value. Prefer to start with a new name and clean slate.
If your business is registered in a state that allows entity conversions, it’s typically some paperwork and state fees, along with an amendment with the IRS in regards to the company’s federal employer identification number (EIN).
Unfortunately, not every state allows entity conversions. That being said, as every state, and subsequently every individual company’s situation is respectively unique; it’s hard to give you a direct answer without knowing the state in question.
I hope you are able to find this information helpful.
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