quizzical27
Returning Member

Closing a single-member LLC in one state and opening a new single-member LLC in a new state

I moved my business from one state to another in 2024. I closed the single-member LLC in the original state and opened a new single-member LLC in the new state.

 

Question 1: Do I file a schedule C for both LLCs?

 

Question 2: I moved my inventory from the old state to the new state. When I file schedule C for the new single-member LLC, is the starting amount $0 or is it the closing amount from the old LLC? What happens to the record of my inventory from the old LLC?