How do I properly quit business operations in one state after moving to another state. Complication: I have outstanding invoices. I have a single-member (me) LLC in Illinois, and will be moving to a new state. I am owed $X in outstanding invoices. I will not be continuing this business' activities in new state, but I will (hopefully) be slowly collecting this outstanding money.
Do I need to domesticate (?) this LLC to the new state (it seems to have the mechanism for doing so), or do I keep it in Illinois?
Can I dissolve it and simply continue collecting the money as usual as long as I am doing no new business?
Is this new state income or Illinois income for the purpose of taxes?
This may be a problem for a professional, and if so, that's fine, but if you have any idea how this type of thing has worked for you or others in the past, that would be lovely to hear. I understand you're a random person on the internet and despite your numerous qualifications or lack thereof, you are not providing any professional advice in any capacity.
Thanks!
Do I need to domesticate (?) this LLC to the new state (it seems to have the mechanism for doing so), or do I keep it in Illinois?
Can I dissolve it and simply continue collecting the money as usual as long as I am doing no new business?
Is this new state income or Illinois income for the purpose of taxes?
This may be a problem for a professional, and if so, that's fine, but if you have any idea how this type of thing has worked for you or others in the past, that would be lovely to hear. I understand you're a random person on the internet and despite your numerous qualifications or lack thereof, you are not providing any professional advice in any capacity.
Thanks!