If you want to move your LLC to Mississippi, you have several options. Here’s what you need to know.
Can I move my LLC to Mississippi?
Yes. There are a few different ways you can move your LLC’s business operations to Mississippi, including:
- Dissolution/formation: Dissolve your business in your current state and form a new LLC in Mississippi. This option requires you to create all new paperwork for your LLC.
- Foreign registration: Keep your LLC registered in its current state and Register as a Foreign LLC in Mississippi. This allows you to do business in both places, but you will also have to keep up with both states’ reports and fees.
- Domestication: Convert your business into a domestic Mississippi LLC by filing for business domestication with the Mississippi Secretary of State. Domestication is usually the easiest and most cost-efficient option for moving an LLC to a new state.
Does Mississippi allow LLC domestication?
Yes, Mississippi allows LLC domestication. However, per MS Code § 79-37-501, a foreign business (foreign meaning out-of-state) may only domesticate in Mississippi if the business’s home jurisdiction allows domestication. So if your business is located in a state that doesn’t allow domestication, you will have to choose another option, such as registering as a foreign LLC.
Here are the steps you’ll need to take to domesticate your business in Mississippi:
- Notify your home state that you are domesticating in Mississippi and receive stamped domestication documents.
- Draft a plan of domestication and have it approved by all members of your LLC.
- Hire a Mississippi registered agent.
- File for Business Domestication on the Mississippi Secretary of State website. Note: You will first need to make an online account.
What is a Mississippi Plan of Domestication?
A Mississippi Plan of Domestication is an internal document drafted by a business that puts into writing the business’s plan to become a domestic entity in Mississippi.
According to MS Code § 79-37-502, an LLC’s plan of domestication must include:
- The current name and entity type of the business
- The new name for the business once it is domesticated
- The jurisdiction where the business is moving
- The manner in which the business will convert interests, such as money and property
- The business’s “public organic record,” which means public business documents filed with the state, such as LLC Articles of Organization.
- The business’s “private organic rules,” such as an LLC operating agreement.
- Any specific terms and conditions for domestication.
Do I need a new EIN if my LLC changes states?
Probably not. When you domesticate your LLC in a new state, you can keep using the same EIN. However, you will need a new EIN if you dissolve your business and then form a brand new LLC in a new state.
Find out more about How to Move Your Business to Another State.