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<p>[QUOTE=&quot;Ollyoccia, post: 2443260, member: 78919&quot;]When you change from a corporation to an LLC someone will always remain liable for the corporations obligations.&nbsp; They either transfer to the LLC or they remain with the corporation and the shareholders.&nbsp; For example, what if the IRS wants to audit the 2006 tax returns for the corporation are they going to be told oh no no that company no longer exists.&nbsp; What if the IRS determines the corporation underpaid by in 2006 by 10K do you think they are going to be told no one is responsible because we changed from a corp to an LLC?&nbsp;&nbsp; Another example Coca cola has many lawsuits against them at any given time.&nbsp; You think they can switch from a corp to and LLC and those lawsuits go away?&nbsp; It doesn&#039;t work that way or companies would be switching all the time.[/QUOTE]</p><p><br /></p>

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