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

[quizzical27]

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?

[MaryK4]

If it is the same LLC that just changed state registration, you can treat it as the same taxable Schedule C.  You will keep the same inventory if it is the same business.  

[quizzical27]

The new LLC has a different EIN from the old LLC, though the business operations are the same. 

[MaryK4]

You can just update the EIN on the Schedule C.  Since it is a disregarded entity, either EIN is an alter ego to your SSN, other than for employment taxes if you have them.  (The IRS will associate the LLC EIN with your SSN).

[quizzical27]

Thank you, that makes sense. 

Under 'Did you start this business in 2024' in Schedule C, would I would mark it as 'no'? 

[AnnetteB6]

Correct, since you are essentially continuing the same business under a new EIN, then you did not start it in 2024.

@quizzical27