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How can I address past due payroll taxes for my LLC?

How can I address past due payroll taxes for my LLC?

Q: Can I keep my LLC if I move to another state?

Yes, you can keep your LLC if you move to another state. However, you may need to register your LLC as a foreign entity in the new state if you plan to conduct business there. Alternatively, you can dissolve your LLC in the original state and form a new one in the new state, depending on your business needs.

Q: What happens to my LLC if I move out of state?

If you move out of state, your LLC remains active in its original state unless you take steps to dissolve it. You may need to register your LLC in the new state if you plan to operate there. Additionally, consider updating your business address and ensuring compliance with both states' regulations.

Q: Can you use your LLC in multiple states?

Yes, you can use your LLC in multiple states, but you must register it as a foreign LLC in each state where you conduct business. This process typically involves filing paperwork and paying fees in the new states. Be sure to comply with each state's regulations to avoid penalties.

Q: Do I need a new EIN if I move my LLC to another state?

Generally, you do not need a new Employer Identification Number (EIN) if you move your LLC to another state. However, if you change the structure of your LLC or if the ownership changes, you may need to apply for a new EIN. Always check with the IRS for specific guidance related to your situation.

Full question:

I have an LLC in El Paso Texas. I walked away with the shirt on my back and moved to another state. I want to make retribution to the county for past due payroll taxes but I am not in a financial position to do so now. How do I initiate contact and what can be done to handle this in a manner that I can afford? I also did not submit then financial records for the 2008 employee w2 because I did not have access to the information. Am I doomed? Are there any steps I can take to make it right and get this monkey off my back?

Category: Taxes
Date: 04/07/2025
State: Arizona

Answer:

Failing to file tax returns can result in losing your right to any refunds you might be entitled to, as the IRS has a three-year window for claiming refunds. If you don't file, the IRS can file a substitute return for you, which may not include any deductions or exemptions you could claim. It's important to file returns even if you can't pay the tax owed. The IRS allows for payment plans and may accept an offer in compromise, letting you pay less than the total amount owed. Since I can’t provide legal advice, I recommend contacting a local tax professional who can review your situation and help you navigate these issues.

This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.

FAQs

Do I need to change my LLC address if I move?

Yes, if you move, you should update your LLC's address with the state where it is registered. This ensures that you receive important legal documents and notices. You can typically do this by filing an amendment with the Secretary of State in your state. It's also a good idea to update your address with the IRS and any other relevant agencies.