business move across states

[kjtraxtle]

If I closed my construction LLC in one state, to move to another state, and less than 2 months later opened my LLC in the new state with a new EIN and slightly different name, doing the same type of work, Is that considered disposing of my business as a like-kind exchange?

[Anonymous_]

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@kjtraxtle wrote:

Is that considered disposing of my business as a like-kind exchange?

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No. 

Among other things at issue here, a like-kind exchange (Section 1031 exchange) is now limited to interests in real estate.

[kjtraxtle]

Thank you. Is it still considered a disposal of the business?  We did not sale it. We just closed it in Idaho and reopened it in SC but applied for a new EIN since a new state and we weren't sure the best way to do it.  So if it is not a like kind exchange then which option should I choose. I think all the rest are asking me about selling.

[ZoltanB45]

You would just file a final idaho business tax return. Then file the Idaho "statement of dissolution." Once that is done, your LLC in Idaho is officially closed. After you clicked that the business ended in 2021, it asks whether or not it was sold. You would select, "none of these apply," and there won't be any sales questions.