If you wish to convert a C Corp to an LLC, you probably are doing so for tax reasons. The following information will help you make this happen.
After reading the content, call or speak to us here: https://mollaeilaw.com/start to get started. By taking this stance, you can avoid paying taxes on your company and enjoy pass-through taxation.
Why You Need to Know How to Convert a C Corp to an LLC?
If you own a C corporation, you may want to convert to a pass-through entity, such as an LLC to retain your transferability of ownership and to receive protection against getting sued. This action may be more attractive too, as you avoid double taxation of corporate revenue. As you get bigger or expand, it can become more and more difficult to reach a happy balance when it comes to taxable income.
Not only do you have to consider shifts in salaries, but you also have to deal with paying for fringe benefits or interest payments on business assets.