Business Restructuring Instructions

Business Restructuring

A new Business license is not required if a business restructuring occurs such as the ownership structure of an existing resident business changes from or to:

  • Corporation
  • LLC
  • LLP
  • Partnership
  • Sole proprietor
  • Any other form of ownership

To be considered a restructure, assets of the existing licensed business cannot be purchased. However, we do require that you notify the Business License Auditor, in writing, of the change so that we may update the information in our system. Please use the Change Form (PDF) for business restructuring only.

Ownership Change

If an ownership change occurs or a new business purchases the assets of an existing business resulting in a FIN/EIN/SSN change, a new Business License (PDF) is required.

If the original business has a current year Business License, the new owner has 45 days from the date of the change of ownership to be eligible for a $50 license transfer fee. No penalties are due if you transfer within the 45 days. After the 45 days, you will be required to purchase a current Business License and pay for any prior year licenses owed, as well as any appropriate penalties.

For More Information

If you have any questions regarding business restructuring and ownership changes please contact the Business License Auditor at 864-467-4502.