Steps to transfer a company (LLC or corporation) to Florida

Attorney and CPA Chad D. Cummings discusses the impact of major liquidity events on California business owners and the accelerating exodus to Florida in this presentation. SpaceX’s June 12, 2026 IPO at a valuation exceeding two trillion dollars created approximately 4,400 new millionaires in California, where the top marginal income tax rate is 13.3 percent. For an employee receiving ten million dollars in equity, that means a California tax bill of $1.33 million compared to zero in Florida. Similar events at companies like OpenAI are generating another wave of newly liquid California residents who have one opportunity to establish residency in a no-income-tax state before their gains are taxed. Brokers in South Florida report a surge of California area codes, and the pattern is clear: the people leaving are not retiring. They are founding companies, hiring employees, and deploying capital. This presentation explains how redomestication allows business owners to transfer their company’s legal domicile out of California 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 California, the math and the timing make the decision urgent. Learn more: https://www.cummings.law/redomestication/