How difficult is it to change the status of your business from a general partnership to an LLC?
Enter the Project Grow Challenge presented by Entrepreneur and Canon USA for a chance to win up to $25,000 in funding for your business. Deadline is Sept. 15 2015. Click here to enter.In general, it is difficult, if not impossible to change status, but it really depends on the laws of your particular state. Your best bet would be to talk to your accountant or attorney to see the true benefits and/or tax advantages of what a change may be, and you may discover you need to reorganize under a different name under the type of entity you ultimately want to own.