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  1. #1
    Join Date
    Sep 2016
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    Default What to Do With a LLC that Holds IP After Moving to Another State

    A man living in New Hampshire set up a software consulting company, and created a LLC under which he operated his company. The LLC holds some software that he developed for his customers. He hopes to license the software to customers.

    Since that time, he moved to Massachusetts. He is interested in setting up a new LLC in Massachusetts for his consulting business. However, he is not sure what to do with his New Hampshire LLC or its intellectual property. Ideally, he would like to have one LLC and have that single LLC hold all of the intellectual property, and he would prefer that to be the Massachusetts LLC so that he doesn't have to work through a foreign LLC with his Massachusetts clients.

  2. #2
    Join Date
    Sep 2005
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    98,846

    Default Re: What to Do With a LLC that Holds IP After Moving to Another State

    If it's a single member LLC for software consulting, his first consideration should be whether or not the LLC would offer him any actual benefits or protections. But if he wants to forge ahead with the formation of a Massachusetts LLC, he can consider either maintaining the New Hampshire LLC to hold the software, or he can consider dissolving the New Hampshire LLC and transferring ownership of the software to his Massachusetts LLC. He should consult an accountant to make sure that he doesn't accidentally trigger any tax liability that might otherwise be avoided.

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