My s-corp originated in Indiana, but I live in Illinois and that is where I will do my business. What has to be filed in IL to operate my service based business? Thank you
Dear Kim,
In your case, you have two primary options to consider:
The first option, you could dissolve the S-Corporation in Indiana and open a new entity in Illinois. This would have the company registered in only one state, however, this would create a new date of formation for the business, as well as require a new federal tax id (EIN), S-Corp election, etc.
The second option, you can file your Indiana S-Corporation as a foreign entity in Illinois, which would have the business actively registered in both states, retaining the original date of formation and federal tax id.
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