What are the steps involved in altering the structure of an entity?

It's a complex process to change your business entity from a corporation to an LLC (or vice versa). This is a summary:

The process of transitioning from a Corporation to an LLC:

1. Make sure you have the shareholders' approval before converting.
2. The Articles of Conversion should be submitted to the state's Secretary of State's office for filing. The conversion has been officially requested in his document.
3. After approval of the Articles of Conversion, dissolve the corporation.
4. File the Articles of Organization with the new state to form the LLC.
5. Move all assets and liabilities from the corporation to the newly created LLC.
6. Inform all stakeholders, including employees, clients, and vendors, about the modification.
7. A new employer identification number and other licenses are required, which includes a new bank account.

Converting an LLC into a Corporation:

1. Acquire approval from the LLC members for the conversion.
2. File the Articles of Incorporation by submitting them to the Secretary of State's office in your state.
3. Once the articles of incorporation are approved, the LLC should be dissolved.
4. File the necessary documents with the state to form the corporation.
5. Transfer all possessions and obligations from the LLC to the new company.
6. Inform all parties involved about the change.
7. A new employer identification number and other licenses are required, which includes a new bank account.