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Business & farm
You need to discuss this with either legal counsel or your State Secretary.
This change is a state legal change.
Having said that, based on your limited facts, doing so makes no sense since a 2 partner LLP and a 2 member LLC both file the exact same federal form; form 1065 and both provide a K-1 to the partner / member.
There are way too many issues that should be addressed and this forum is not conducive to do that. I recommend you consult either an attorney that understands tax law, or a tax professional.
Finally, your facts are very unclear as you initially indicate you are a 2 member LLC, but then say you want to convert the 2 member LLP to a LLC.
Regardless, you need to have a one on one with a tax professional.
*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
Also keep in mind the date of replies, as tax law changes.
May 7, 2020
1:30 PM