Is it quicker and cheaper to dissolve a VA LLC and form a new LLC in IA, or move the existing VA LLC to IA?

You should talk to an attorney because there’s more to consider than simply the state you’re moving from and to. It’s worth listing the four routes (two of which you didn’t mention) I typically see businesses take in your situation:

  • Keep the LLC where you currently are. Simply register as an out-of-state (aka “foreign”) LLC in your new state. This will likely require you to file annual reports in both states and make tax season a little more complex. If applicable, this route enables you to keep your federal employer identification number (EIN) as well.
  • Dissolve your LLC and then establish a new LLC in your new state. The tax implications aren’t that drastic if you head in this direction.
  • Register a new LLC in the new state. After you register a new LLC, each member can then transfer his / her ownership from the previous LLC to the new one.
  • Merge your previous LLC into a new LLC. You can continue with your existing EIN as the IRS treats this as a continuation of the original LLC.

It’s simply too speculative to tell you which way you should go without more info. If you want help figuring out what to do then check out LawTrades. Our legal platform offers free 20-minute consultations and no-obligation price quotes with skilled business attorneys. Good luck!