Anyone know anything about S Corps?

[mrskal]

I have an S corp, in Illinois, and I am moving to Florida. Do I need to close up that corp or can I just run it in Florida? I dont mind starting a new one, but I am paid for this year already and would love to just start working once I get there without changing right away. Any thoughts? I did email a SCORE rep, but waiting to hear back.

[tobee43]

your s corp is in another state so, i would likely think you need to re incorporate once in fl. however, i do think it may depend on what type of business it is..whether it's been restricted only to your state or if you have been already operating on a national or international level...not enough info has been provided...however...

from what i recall you'll now be doing your taxes in another state so it could present some problems... although there may be legal ramifications, this question is more an accountant question...so call yours and see what they say.

[mrskal]

Yes I will ask her, but she is out of town. Just trying to get a jump on things LOL Thanks