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Updated about 4 years ago on . Most recent reply

User Stats

51
Posts
3
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Lucky B.
  • Investor
  • Clermont, FL
3
Votes |
51
Posts

Should i create a new LLC,or pay the reinstatement fee on SUNBIZ?

Lucky B.
  • Investor
  • Clermont, FL
Posted

Guys i need help here. I formed a LLC company in 2015 and i let it automatically dissolve last year(2017) by not filing an annual statement on Sunbiz.org. i did it on purpose because i was planning to sell my only rental home and figured i wouldn't do more investing.

Guys, i sold a rental property this year, and i want to invest in commercial and residential properties. The '"name" of the LLC, i had my rental property under was administratively dissolved . I let it dissolve in 2017 because i didn't think there was a future for the company at the time .Also the name of the LLC is not suitable for my new future strategy. I want the name of my future LLC to include investments. So should i

A) pay the reinstatment fee, past due annual fees and make an amendment  to the name of the llc under the current FEID on Sunbiz

or 

should i just form a new LLC and obtain a new federal employment identification number . It will be cheaper on Sunbiz , but does the IRS allow me to change the name of a company and still use the same FEID number.

I also have to consider than i help the property for less than 3 years and i closed on it last week. I made 80k profit so if i were to create a new LLC can i still do a 1031 like kind exchange ?

Most Popular Reply

User Stats

675
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542
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Jeffrey Holst
  • Investor
  • Chattanooga, TN
542
Votes |
675
Posts
Jeffrey Holst
  • Investor
  • Chattanooga, TN
Replied

Definitely too late for 1031. Personally I'd reopen LLC and keep same name if possible. You already file taxes on that and you never know there will be a time where a business loan might make sense

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