01/10/2020
You did it! You developed your business plan, filed documents with the state, pitched countless potential investors, and finally found a match. Your new venture is finally going to get off the ground!
There's just one hiccup: your investor wants you to restructure your business entity for their protection or to give them an appropriate share of the equity.
Fortunately, Maryland offers lots of statutory options for switching up your biz, including merger 🔀 and conversion ➡. Maryland's also very flexible about the categories of entities different types of businesses can choose.
Unfortunately, unlike some states, Maryland doesn't publish clear, easy-to-use forms to execute these changes. Your best bet is to work closely with the State Department of Assessments and Taxation and/or your attorney to make absolutely sure you're drafting your new documents correctly.
Remember: it's never too early to start thinking about getting set up correctly for your business' future goals.
