Can I Change My Business Organization From One Type to Another?

A Video FAQ with Mary E. Vandenack.

There are 2 things you consider changing when you are going to change a business organization. The first is its legal form, for example, changing from a partnership format to a limited liability company. Those issues are covered by the law of the state. So if you have an entity that is a Nebraska partnership, you are going to look to Nebraska law in how to change the format of that entity. The second issue is a tax issue. There is a different type of tax treatment for each type of entity. Changing the tax status of an entity from one type to another type of corporation can be a little trickier and should be given a lot of consideration.

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