The first step in a Florida entity conversion is writing a detailed Plan of Conversion. The plan needs to cover specifically how ownership will be allocated from one entity to the other.
For example, if you are converting a Florida LLC into a Florida corporation, you must address how the LLC members’ ownership percentages will become shares of corporate stock. This is called the Terms and Conditions of Conversion.
The Plan of Conversion must also list the current name of your Florida business and the proposed name of your new Florida entity (your name will have to change, at the very least, the business identifier at the end of its name).
A Plan of Conversion must be approved by the members or shareholders of your company. You must notify members/shareholders in advance of the meeting at which the plan will be submitted and approved. The meeting must be held, and a simple majority of members/shareholders/managers, submitted in writing, must be forthcoming.
