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For 20 years I have been sole proprietor, will upgrading to LLC make me a new business?

I am now in the position where I don’t need to be exposed personally from my business ventures, therefore I am going to upgrade my business from a sole proprietor to LLC, I would like to know if this will make me appear as I am a new business which can prevent me from business opportunities

This entry was posted on Monday, August 30th, 2010 at 8:12 pm and is filed under Business Ian. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

3 Responses to “For 20 years I have been sole proprietor, will upgrading to LLC make me a new business?”

  1. After the LLC is established you can ask D&B to rate the company and explain the nature of the transfer. It will cost you to do this but they will show the transfer of an existing business to a new incorporation. Same with your bank.

  2. interesting

  3. An LLC is a "disregarded entity"–so unless you incorporated, you are still a sole proprietor.

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