How to Move a Company Out of New York and Keep Your EIN
What is moving a company out of New York?
Moving a company out of New York is accomplished through redomestication, a legal process that transfers your business to another state while keeping your existing federal employer identification number (EIN), contracts, bank accounts, and company name intact. Cummings & Cummings Law describes redomestication as changing where your company is domiciled without changing the identity of the business itself. This means your company continues operating under the same legal entity, avoiding the disruption and complexity of dissolving one business and forming a new one.
How does the redomestication process work?
Redomestication requires you to provide information and signatures, while a licensed attorney and CPA handle the legal and tax components. The process begins with entering your business name on the service page and receiving an exact price quote within 30 seconds. You then submit your information in less than five minutes, and documents are delivered for electronic signature within 48 hours. Once completed, you receive a Redomestication Closing and Tax Continuity Packet, which contains the legal documents needed to finalize the transfer and maintain tax continuity with your new state.
The service is conducted entirely online with a flat fee structure and no sales call required. This streamlined approach eliminates the need to turn the transfer into a complex, time-consuming project.
What can you keep when moving out of New York?
One of the primary benefits of redomestication is that you retain critical business assets and relationships. Your existing EIN remains active, so you do not need to reapply for federal tax identification or update payroll systems. Your contracts stay in place without requiring renegotiation or counterparty approval in most cases. Bank accounts continue operating under the same business entity, and your company name typically remains unchanged. This continuity means minimal operational disruption and no downtime during the transfer.
Who should consider redomestication?
Redomestication suits business owners seeking to relocate their company's legal domicile for tax efficiency, regulatory simplification, or operational reasons. It is most effective for companies that want to avoid the complexity and cost of forming a new entity in another state. However, Cummings & Cummings Law states that if the redomestication process does not fit your company's circumstances, they will tell you directly rather than proceeding with an unsuitable approach.
Business owners should evaluate whether redomestication aligns with their specific situation, including their company structure, existing contracts, and state-specific requirements. The service is handled by professionals with dual licensing in law and accounting, which helps ensure compliance with both legal and tax obligations.
What information do you need to provide?
To start the redomestication process, you provide your business name and relevant company information. The exact scope of additional documentation is not detailed on the service page, but the timeline indicates that once you submit your information, documents for signature are prepared within 48 hours. You can schedule a consultation if you prefer to speak with counsel before beginning, which allows you to clarify what information and documentation will be required for your specific business.
The flat-fee structure means the cost is determined upfront based on your business details, so you know the total investment before committing to the process.