Podcast
#LegalBytes: The Official Podcast of Cummings & Cummings Law
Hosted by Cummings & Cummings Law · EN
Legal, tax, financial, accounting, and estate planning concepts for business owners and their families
144episodes
Episodes
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50 State Series: How to move your LLC or corporation out of Vermont and keep your EIN
Jun 3000:11:34Tap to summarizeAttorney and CPA Chad D. Cummings explains Vermont’s poor tax competitiveness in this presentation. The state ranks 42nd on the Tax Foundation’s 2026 State Tax Competitiveness Index with a top individual income tax rate of 8.75 percent, a corporate rate of 8.5 percent, the highest effective property tax burden in the nation as a percentage of personal income, and a 16 percent estate tax. Vermont is considering further income tax increases that would worsen its ranking, while neighboring New Hampshire ranks 3rd after eliminating its individual income tax. Florida and Texas impose no state personal income tax and offer far more competitive environments. This presentation shows how redomestication allows Vermont business owners to transfer their company’s legal domicile to Florida or Texas without dissolving the entity, without creating a new company, and on a completely tax-free basis while preserving the same FEIN, contracts, credit history, and bank accounts. If you own a business in Vermont, the structural burdens and policy direction make a compelling case for change. Learn more: https://www.cummings.law/redomestication/
Transcribe →50 State Series: How to move your LLC or corporation out of Utah and keep your EIN
Jun 2900:11:00Tap to summarizeAttorney and CPA Chad D. Cummings examines Utah’s strong tax competitiveness in this presentation. The state ranks 15th on the Tax Foundation’s 2026 State Tax Competitiveness Index with a flat 4.5 percent individual and corporate income tax rate, permanent full expensing, no throwback rule, no capital stock tax, and an overfunded pension system at 104 percent. Utah serves as a model for states that impose all major taxes while maintaining broad bases and low rates. However, 4.5 percent is still a tax. Florida and Texas impose no state personal income tax. This presentation shows how redomestication allows Utah business owners to transfer their company from one state to another without dissolving the entity, without creating a new company, and on a completely tax-free basis while preserving the same FEIN, contracts, credit history, and bank accounts. If you own a business in Utah, the state does many things right, but zero remains the better number. Learn more: https://www.cummings.law/redomestication/
Transcribe →50 State Series: How to move your LLC or corporation out of Texas and keep your EIN
Jun 2900:09:56Tap to summarizeAttorney and CPA Chad D. Cummings explains why Texas remains one of the strongest states for business ownership and how redomestication provides seamless flexibility in this presentation. Texas ranks seventh on the Tax Foundation’s 2026 State Tax Competitiveness Index with no individual income tax, no estate tax, no inheritance tax, and a franchise tax that applies only to larger entities. The state has built a pro-business legal infrastructure including a dedicated Business Court and strong governance protections that have attracted major companies such as Tesla and ExxonMobil. This presentation covers the advantages of redomesticating into Texas from a high-tax state as well as the process for Texas-domiciled businesses that need to move the entity when life circumstances require relocation. Redomestication transfers the company to a different state, without creating a new entity, and without triggering federal income tax when performed correctly. The company retains its FEIN, contracts, credit history, and bank accounts. Whether you are moving into Texas or out of Texas, the process is flat-fee, remote, and handled end-to-end by a licensed attorney and CPA admitted in Texas. Learn more: https://www.cummings.law/redomestication/
Transcribe →Six mistakes when selling or transferring your company
Jun 2900:13:53Tap to summarizeAttorney and CPA Chad D. Cummings explains the top six mistakes business owners make when selling or transferring an LLC in this presentation. From operating without a proper operating agreement, to dissolving the company instead of redomesticating it, failing to register in the state where you actually conduct business, using free contract templates, commingling personal and business funds, and neglecting to update formation documents, these common errors expose owners to unnecessary risk, tax consequences, compliance violations, and lost value. This presentation walks through each mistake with practical guidance on how to avoid them and protect both the seller and the buyer during a transfer. Learn why redomestication is often the correct path instead of dissolution and how proper planning preserves your FEIN, contracts, credit history, and liability protection. If you are preparing to sell or transfer your company, this presentation will help you avoid costly pitfalls. Learn more: https://www.cummings.law
Transcribe →Five things to think about when selling your small business
Jun 2900:12:37Tap to summarizeAttorney and CPA Chad D. Cummings explains the five critical steps every LLC owner must take before selling a membership interest in this presentation. From reviewing the operating agreement for transfer restrictions, to choosing between a membership interest sale and an asset sale, cleaning up compliance issues before due diligence, evaluating the state of domicile and the benefits of redomestication, and obtaining a professional valuation, each decision affects the purchase price, tax consequences, and risk of post-closing disputes. This presentation walks through the practical, legal, and tax considerations that protect both sellers and buyers and help maximize value in an LLC transaction. Whether you are preparing to sell or considering acquiring an existing LLC, these steps reduce surprises and position the deal for success. Learn more: https://www.cummings.law
Transcribe →50 State Series: How to move your LLC or corporation out of Tennessee and keep your EIN
Jun 2600:12:24Tap to summarizeAttorney and CPA Chad D. Cummings highlights Tennessee’s dramatic tax reform success in this presentation. The state has climbed from 38th to 8th on the Tax Foundation’s 2026 State Tax Competitiveness Index by fully eliminating its individual income tax, making it one of the best states in the country for pass-through businesses. Tennessee also maintains a pension system funded at 108 percent and strong fiscal discipline. This presentation shows how redomestication allows business owners to transfer a company legal domicile without dissolving the entity, without creating a new company, and on a completely tax-free basis while preserving the same FEIN, contracts, credit history, and bank accounts. For owners in neighboring states still paying income taxes ranging from 4.25 percent to 6.5 percent, the comparison is clear. Learn about redomestication: https://www.cummings.law/redomestication/
Transcribe →50 State Series: How to move your LLC or corporation out of South Dakota and keep your EIN
Jun 2600:11:04Tap to summarizeAttorney and CPA Chad D. Cummings presents this overview of why South Dakota ranks second on the Tax Foundation’s 2026 State Tax Competitiveness Index. The state imposes no individual income tax, no corporate income tax, and no gross receipts tax, along with no estate tax, no inheritance tax, and no tangible personal property or inventory taxes. With a fully funded pension system at 100 percent and a simple, transparent tax structure built on sales and property taxes, South Dakota offers one of the most competitive environments in the country. This presentation shows how redomestication allows business owners to transfer their company to a new state without dissolving the entity, without creating a new company, and on a completely tax-free basis while preserving the same FEIN, contracts, credit history, and bank accounts. Whether you are coming from a high-tax state in the upper Midwest or looking for a stable zero-income-tax jurisdiction, this is the proper legal mechanism. Learn more: https://www.cummings.law/redomestication/
Transcribe →50 State Series: How to move your LLC or corporation out of Oklahoma and keep your EIN
Jun 2300:13:15Tap to summarizeAttorney and CPA Chad D. Cummings examines Oklahoma’s tax competitiveness in this presentation. The state ranks 19th on the Tax Foundation’s 2026 State Tax Competitiveness Index after notable reforms including permanent full expensing, repeal of the capital stock tax, and reduction of the top individual income tax rate to 4.5 percent. However, Oklahoma still imposes bracket creep through non-indexed brackets, a throwback rule on corporate income, a combined state and local sales tax rate exceeding nine percent, and other structural provisions that fall short of zero-tax environments. This presentation shows how redomestication allows Oklahoma business owners to transfer a business to a new state without dissolving the entity, without creating a new company, and on a completely tax-free basis while preserving the same FEIN, contracts, credit history, and bank accounts. If you own a business in Oklahoma, the progress is real, but the state next door offers a better outcome. Learn more: https://www.cummings.law/redomestication/
Transcribe →50 State Series: How to move your LLC or corporation out of Ohio and keep your EIN
Jun 2300:12:53Tap to summarizeAttorney and CPA Chad D. Cummings explains Ohio’s tax reality in this presentation. While the state is reducing its individual income tax rate to a competitive 2.75 percent, over six hundred municipalities impose their own local income taxes that can push the combined rate well above five percent in many areas. Ohio also relies on a Commercial Activity Tax based on gross receipts rather than profit, creating burdens that do not exist in states with no income tax. This presentation shows how redomestication allows Ohio business owners to transfer their company to a new state without dissolving the entity, without creating a new company, and on a completely tax-free basis while preserving the same FEIN, contracts, credit history, and bank accounts. If you own a business in Ohio, the headline state rate improvement is helpful, but the effective rate you actually pay may justify a better solution. Learn more: https://www.cummings.law/redomestication/
Transcribe →50 State Series: How to move your LLC or corporation out of North Dakota and keep your EIN
Jun 2200:12:34Tap to summarizeAttorney and CPA Chad D. Cummings examines North Dakota’s tax position in this presentation. The state ranks 11th on the Tax Foundation’s 2026 State Tax Competitiveness Index with one of the lowest individual income tax rates in the country at 2.5 percent. However, North Dakota’s revenue model depends heavily on volatile oil and gas severance taxes, it imposes a throwback rule on corporate income, and its pension system is funded at only 69 percent. These factors create risks that do not exist in states with no income tax. Florida and Texas impose no state personal income tax and offer more stable, competitive environments. This presentation shows how redomestication allows North Dakota business owners to transfer a company to a new state without dissolving the entity, without creating a new company, and on a completely tax-free basis while preserving the same FEIN, contracts, credit history, and bank accounts. If you own a business in North Dakota, the low rate is helpful, but zero remains the better outcome. Learn more: https://www.cummings.law/redomestication/
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