#LegalBytes: The Official Podcast of Cummings & Cummings Law

Attorney and CPA Chad D. Cummings explains the single most important document in any redomestication: the Plan of Conversion. Most business owners, CPAs, and even many attorneys have never heard of it, yet without this custom legal instrument, your filings with the Secretary of State may have no legal effect, the transaction can fail, and you risk turning a tax-free move into an expensive mess. This presentation shows exactly what the Plan of Conversion does, why it is required by law in both the origin and destination states, how it preserves your FEIN, contracts, credit history, and bank accounts, and why skipping it is one of the most common and costly mistakes in the process. Online filing services and generic templates cannot prepare a proper Plan of Conversion because it requires the exercise of professional legal judgment. Our firm prepares a custom Plan of Conversion for every engagement, and we have successfully completed hundreds of them. If you are considering moving your company to Florida or Texas, this presentation will show you why working with a licensed attorney who understands this document is essential. Learn more: https://www.cummings.law/redomestication/

Attorney and CPA Chad D. Cummings explains why dissolving your company in one state and forming a new one in another is almost always the wrong move. This common advice from well-meaning professionals can destroy your FEIN, force you to renegotiate every contract, close and reopen bank accounts, reset your credit history, and potentially trigger unnecessary taxes. In this presentation, you’ll see exactly what goes wrong with dissolution and why redomestication is the correct solution. Redomestication transfers your company’s legal domicile to Florida or Texas without dissolving it, without creating a new entity, and without triggering federal income tax when done properly. Your company keeps the same FEIN, the same contracts, the same bank accounts, and the same credit history. The entity that exists after the conversion is the exact same legal entity that existed before. If your CPA or attorney recommended dissolution, this presentation will show you why you need a second opinion before you file anything. Learn more: https://www.cummings.law/redomestication/

Attorney and CPA Chad D. Cummings explains the real limitations of the newly raised SALT deduction cap in this presentation. While headlines tout an increase from $10,000 to $40,000, the full benefit phases out above $500,000 in modified adjusted gross income and reverts entirely to the old $10,000 cap at $600,000. The change is also temporary, expiring after tax year 2029, and high earners in the 37% federal bracket face an additional 35-cent cap on the value of itemized deductions starting in 2026. For business owners with significant pass-through income, this means little to no additional relief on the heavy state and local taxes they already pay. This presentation shows why the SALT adjustment does not solve the core problem for high earners and how redomestication to Florida or Texas removes state income tax exposure entirely. Learn how to transfer your company’s domicile without creating a new entity, without dissolution, and on a completely tax-free basis while preserving your FEIN, contracts, credit history, and bank accounts. Learn more: https://www.cummings.law/redomestication/

Attorney and CPA Chad D. Cummings presents this overview on the accelerating migration of billionaires and high-net-worth individuals to Florida. A $300 million mansion is rising on North Bay Road in Miami, with reports of a major tech billionaire arriving by helicopter and raft to view the property. Larry Page, Sergey Brin, Mark Zuckerberg, Alex Karp, and Howard Schultz have all made major moves to Florida, often accompanied by corporate relocations. The reason is straightforward: Florida imposes no state income tax, while California charges 13.3 percent and New York exceeds 14 percent in high-tax jurisdictions. For business owners, these savings compound dramatically each year. This presentation explains how redomestication allows you to move your company’s domicile to Florida or Texas without creating a new entity, without dissolution, and on a completely tax-free basis while preserving your FEIN, contracts, credit history, and bank accounts. The ultra-wealthy are not waiting. They are already there. If you own a business in a high-tax state, the window to follow their lead and protect your wealth is now. Learn more: https://www.cummings.law/redomestication/

Attorney and CPA Chad D. Cummings breaks down the latest corporate income tax landscape in this timely presentation. Forty-four states still impose a corporate income tax, with top rates reaching as high as 11.5 percent in New Jersey, while three states cut their rates effective January 1, 2026, and thirteen states now sit at or below 5 percent. Florida and Texas stand out with far lower effective burdens and no state personal income tax, making them magnets for businesses seeking to reduce their overall tax exposure. This presentation shows exactly how these differences add up to hundreds of thousands of dollars over time for C corporations and pass-through entities alike. Learn how redomestication enables business owners to transfer their company’s state of domicile to Florida or Texas without creating a new entity, without dissolution, and on a completely tax-free basis while keeping the same FEIN, contracts, credit history, and bank accounts. If your company is domiciled in a high corporate tax state, this could be the strategic move that protects your future profitability. Learn more: https://www.cummings.law/redomestication/

Attorney and CPA Chad D. Cummings presents this timely presentation on the accelerating corporate exodus from Delaware, now known as DEXIT. Major companies including Tesla and ExxonMobil have already redomesticated to Texas, while TripAdvisor, Dropbox, and Pershing Square have moved to Nevada. Even Meta has reportedly considered Texas. This is no longer a niche trend—it is a structural shift driven by Delaware court decisions that created uncertainty for boards and shareholders. Texas and Nevada are stepping up with business-friendly reforms, no personal income tax, and more predictable legal environments. This presentation explains why the default choice of Delaware incorporation is breaking down, what the new alternatives offer, and exactly how redomestication works for companies of any size. Redomestication allows you to transfer your company’s state of domicile to Texas or Florida without creating a new entity, without dissolution, and on a completely tax-free basis while preserving your FEIN, contracts, credit history, and bank accounts. If you are still incorporated in Delaware or any high-friction state, this presentation shows why now is the time to evaluate your options. Learn more: https://www.cummings.law/redomestication/

Attorney and CPA Chad D. Cummings presents this eye-opening presentation on a surprising reality: most Americans know very little about how taxes actually work. According to the Tax Foundation’s National Tax Literacy Poll, the majority of taxpayers cannot correctly identify the top federal income tax rate, do not understand how tax brackets function, and have no idea what share of federal taxes is paid by the top one percent of earners. This lack of knowledge is costing business owners thousands—sometimes hundreds of thousands—of dollars every year. If you don’t understand marginal rates and the true cost of your state’s tax system, you’re likely overpaying without realizing there are far better options. This presentation explains why so many business owners are moving their companies to Florida or Texas and how redomestication gives you a clean, legal way to change your company’s state of domicile without creating a new entity, without dissolution, and without federal tax consequences. Learn more: https://www.cummings.law/redomestication/

Attorney and CPA Chad D. Cummings presents this timely update on a major fiscal warning for business owners. According to The Pew Charitable Trusts, forty states ended fiscal 2025 with tax revenue below their 15-year inflation-adjusted trends, marking the first back-to-back real revenue declines outside of a recession in at least fifty years. With structural budget gaps widening, states are under increasing pressure to raise taxes, broaden the tax base, or create new levies. This presentation breaks down what these shortfalls mean for business owners in high-tax states and why redomestication to Florida or Texas offers a proven way to reduce exposure. The process legally transfers your company’s domicile without creating a new entity, without dissolution, and without federal tax consequences, while preserving your FEIN, contracts, credit history, and bank accounts. If your business is domiciled in one of the forty states now running below trend, the coming tax increases are not theoretical. Learn more: https://www.cummings.law/redomestication/

Attorney and CPA Chad D. Cummings presents this important update on California’s proposed wealth tax and what it really means for business owners. The co-author of the ballot measure, economist Emmanuel Saez, has now confirmed on record that this is not a one-time tax. He openly stated the goal is a recurring, permanent wealth tax on high-net-worth individuals, adding “so be it” to those who choose to leave the state. Tech leaders are already acting: Google co-founders Larry Page and Sergey Brin, Meta CEO Mark Zuckerberg, Palantir CEO Alex Karp, and others have relocated to Florida. This presentation breaks down how the tax would target not just income but accumulated assets—including the value of pass-through businesses—and why redomestication is the cleanest way for California business owners to move their company’s legal domicile to Florida or Texas. The process keeps the same legal entity, the same FEIN, contracts, credit history, and bank accounts intact, with no new entity created and no federal tax triggered when done properly. If you own a business in California and want to get ahead of a tax regime that openly expects people to leave, this shows you the practical path forward. Learn more: https://www.cummings.law/redomestication/

Attorney and CPA Chad D. Cummings provides an overview on New York’s new pied-à-terre tax targeting second homes and investor-owned apartments valued at five million dollars and above. With a projected annual revenue of at least five hundred million dollars, the state is once again choosing to extract more money from property owners instead of addressing its massive budget deficit through spending restraint. This presentation explains how the tax affects business owners whose entities hold New York real estate, why New York continues moving in the opposite direction of the twenty-three states that have cut income tax rates, and how the state’s accelerating population loss to Florida and Texas is only going to worsen. Learn how redomestication allows New York-domiciled companies to legally transfer their state of domicile to Florida or Texas without creating a new entity, without dissolution, and on a completely tax-free basis while keeping their FEIN, contracts, credit history, and bank accounts fully intact. If you own a business with ties to New York and want to escape the state’s relentless tax increases, this presentation shows you the strategic path forward. Learn more: https://www.cummings.law/redomestication/

Attorney and CPA Chad D. Cummings dissects Illinois’ proposed constitutional amendment that would raise the top marginal individual income tax rate from 4.95 percent to 7.95 percent and push the effective rate on pass-through businesses as high as 9.45 percent. While 23 other states have cut their top income tax rates since 2020 and Illinois’ neighbors continue lowering theirs, Illinois is moving in the opposite direction and attempting to lock the increase into its constitution. This presentation breaks down how this surtax would primarily hit small business owners through pass-through income, accelerate the state’s already heavy outbound migration to Florida, Texas, and other low-tax states, and create even more pressure on the businesses that remain. Learn exactly how redomestication allows Illinois business owners to legally move their company’s domicile to Florida or Texas without creating a new entity, without dissolution, and on a completely tax-free basis while preserving their FEIN, contracts, credit history, and bank accounts. If you own a pass-through business in Illinois, this proposal makes the cost of staying far higher than the cost of acting. Learn more: https://www.cummings.law/redomestication/

Attorney and CPA Chad D. Cummings exposes California’s push for a recurring wealth tax on high-net-worth individuals and business owners. The principal author has openly stated the tax is not a one-time event and that if residents leave in response, “so be it.” While 23 other states have cut their top income tax rates since 2020 and Florida and Texas impose zero state income tax, California continues moving in the opposite direction by targeting accumulated wealth, not just income. For pass-through business owners, this means their company value itself could become part of the taxable base year after year. This presentation explains why redomestication is the strategic solution, allowing you to legally move your company’s domicile to Florida or Texas without creating a new entity, without dissolution, and on a completely tax-free basis while preserving your FEIN, contracts, credit history, and bank accounts. If you own a business in California and want to protect your wealth before the tax environment gets even worse, this could be one of the most important decisions you make. Learn more: https://www.cummings.law/redomestication/

Attorney and CPA Chad D. Cummings presents this powerful presentation on the Tax Foundation's 2026 Facts and Figures report showing state tax collections per capita for fiscal year 2024. While tax rates get most of the attention, the amount each state actually collects per person reveals the true burden. California collects $6,754 per person. Florida collects just $2,726. New York takes $6,000 while Texas takes $2,816. That gap means thousands of dollars more extracted from every resident and business owner every single year in high collection states. This presentation explains why per capita collections are a far better indicator of fiscal pressure than any single tax rate, how these high collection states are driving away people and businesses, and why redomestication to Florida or Texas can dramatically reduce your overall state tax exposure. Learn how to properly move your company while addressing tax nexus and coordinating with your CPA to avoid costly mistakes. If you own a business in a high tax collection state, this data shows exactly why the cost of staying is rising every year. Learn more: https://www.cummings.law/redomestication/

Attorney and CPA Chad D. Cummings presents this powerful presentation on what you are really paying for when you hire a licensed attorney. Filling out forms and filing paperwork is something anyone can do. What you cannot get from templates, chatbots, or document services is the exercise of professional judgment by a licensed fiduciary who is trained, examined, insured, and held legally accountable for the outcome. This presentation explains the critical difference between an attorney and a mere form filler, the fiduciary duties of loyalty, competence, diligence, and confidentiality that only a licensed attorney owes you, and why those duties matter when redomesticating your company. From analyzing operating agreements and state statutes to drafting a custom Plan of Conversion, sequencing filings, identifying hidden risks, and providing a comprehensive go-forward checklist, real legal representation protects you in ways no automated service ever can. Redomestication is a powerful tool when done correctly, but it must be performed with the skill and judgment that only a competent attorney and counselor at law can deliver. If you are considering moving your company to Florida or Texas, this presentation shows why working with a licensed professional is essential. Learn more: https://www.cummings.law/redomestication/

Attorney and CPA Chad D. Cummings presents this powerful presentation on the Wall Street Journal report revealing a staggering 1.03 trillion dollar hidden infrastructure liability across 2,000 U.S. cities that does not appear on any balance sheet. Older cities like Philadelphia, Baltimore, and Milwaukee face massive deferred maintenance on roads, bridges, water systems, and public buildings that will eventually be paid for through higher taxes, fees, or reduced services. In contrast, growing Southern cities like Jacksonville, Florida, and Austin, Texas, are in far better shape thanks to stronger revenue growth and proactive investment. This presentation shows how these hidden deficits will drive future tax increases in struggling cities while low tax, high growth states continue to attract businesses and residents. Learn how redomestication allows business owners to legally move their company to a new state without creating a new entity, without dissolution, and on a completely tax free basis while keeping their FEIN, contracts, credit history, and bank accounts intact. If you own a business in a city facing massive hidden infrastructure costs and rising taxes, this could be the most important strategic move you make. Learn more: https://www.cummings.law/redomestication/

Attorney and CPA Chad D. Cummings presents this powerful presentation on why keeping your CPA fully informed is essential before, during, and after redomestication. While redomestication itself is a tax-free legal process under the Internal Revenue Code that preserves your company's FEIN, contracts, credit history, and tax attributes, it does not handle any of the critical tax compliance work. Your CPA must manage final tax returns and account closures in the prior state, new registrations and filings in the new state, franchise tax obligations, payroll tax updates, sales tax permits, apportionment, and local tax requirements. Failing to coordinate with your CPA can lead to penalties, interest, audits, and administrative dissolution years later. This presentation breaks down exactly what your CPA needs to handle by tax type, why the attorney and CPA must work together, and how proper planning ensures a smooth transition with no surprises. If you are planning or have already completed a redomestication to Florida or Texas, this information could save you significant time, money, and stress. Learn more: https://www.cummings.law/redomestication/

Attorney and CPA Chad D. Cummings presents this powerful presentation on a critical step many business owners miss after redomestication. Just because your company is now domiciled in Florida or Texas does not mean you are done with your old state. If you still have customers, employees, inventory, or other business activity there, you must register as a foreign entity in that state. This presentation explains the key difference between changing your company's legal domicile and the separate requirement to register as a foreign entity wherever you continue to transact business. Failing to register can result in fines, back fees, denied access to state courts, and even personal liability for owners. Learn exactly when foreign registration is required, what the penalties are for noncompliance, and how proper planning protects your company and your ability to enforce contracts. Redomestication moves your company's legal home and delivers major tax advantages. Foreign entity registration keeps you compliant in every state where you operate. Both steps are essential. If you have redomesticated or are planning to, this presentation shows you how to do it right and avoid expensive mistakes. Learn more: https://www.cummings.law/redomestication/

Attorney and CPA Chad D. Cummings presents this powerful presentation exposing a costly mistake many business owners make after moving to a low tax state. Just because you changed your personal residency, updated your address, and even redomesticated your company does not mean you have escaped your old state's taxes. Tax nexus is the legal connection that keeps your company liable for income tax, sales tax, franchise tax, and more in the prior state based on employees, customers, inventory, or economic activity there. This presentation clearly explains the critical difference between changing your company's domicile and actually severing tax nexus, why involving your CPA from the very beginning is essential, and the exact steps needed to properly close tax accounts and avoid back taxes, penalties, and interest. Redomestication is the correct legal first step to move your company to Florida or Texas while preserving your FEIN, contracts, credit history, and bank accounts with no new entity and no federal tax consequences, but it must be coordinated with your CPA and a real reduction in business activity in the old state. If you have moved or are planning to move your business, this presentation could save you tens of thousands of dollars. Learn more: https://www.cummings.law/redomestication/

Attorney and CPA Chad D. Cummings presents this powerful presentation on the Tax Foundation's 2026 state and local sales tax data that most business owners overlook. While everyone focuses on income tax and property tax, the combined sales tax burden adds another heavy layer in high tax states. California hits 8.99 percent combined sales tax on top of its 13.3 percent top income tax rate. New York, Illinois, and New Jersey pile on similarly punishing rates across multiple tax types. In contrast, Florida offers a 6.98 percent combined sales tax with zero state income tax, and Texas has an 8.20 percent combined sales tax rate with zero state income tax protected by its constitution. This presentation shows how these stacked taxes destroy wealth for business owners operating pass through entities and why moving your company to a new state can change everything. Learn how redomestication lets you legally transfer your company's domicile to Florida or Texas without creating a new entity, without dissolution, and on a completely tax free basis while keeping your FEIN, contracts, credit history, and bank accounts fully intact. If you are tired of paying double trouble in taxes, this presentation reveals the smart strategic move every business owner in a high tax state should consider. Learn more: https://www.cummings.law/redomestication/

Attorney and CPA Chad D. Cummings presents this powerful presentation on the surging trend of American workers moving abroad, with the share of U.S. based employees working overseas more than doubling from 2.7 percent to 6 percent in just five years. Tech professionals are leading the charge, as remote work flexibility and better work life balance offered by foreign employers become increasingly attractive. This presentation explains why business owners must pay close attention, because the state where your company is domiciled still determines your state income tax exposure even if you or your team work remotely or internationally. High tax states like California, New York, New Jersey, and Illinois continue to tax pass through business income at rates up to 13.3 percent regardless of where you actually live and work. Learn how redomestication allows you to legally move your company to Florida or Texas, where there is no state income tax, while keeping the same legal entity, FEIN, contracts, credit history, and bank accounts intact with no new entity formed, no dissolution, and no federal tax consequences. If you own a business and want to protect your income in this new global reality, this presentation shows you the smart, proven solution. Learn more: https://www.cummings.law/redomestication/

Attorney and CPA Chad D. Cummings presents this powerful presentation breaking down the new Visual Capitalist and Realtor.com study on how much income it takes to be middle class in every state. Massachusetts requires roughly 69,900 dollars per year, New Jersey 69,500 dollars, Maryland 68,600 dollars, and California 66,800 dollars just to reach the middle class threshold. In sharp contrast, Florida requires only 51,800 dollars and Texas 53,100 dollars. This presentation reveals how the same high tax, high cost states that make middle class life hardest also impose crushing income taxes, property taxes, and housing prices that destroy wealth. Learn why business owners in these states are relocating to Florida and Texas, where there is no state income tax, lower property taxes, and your dollars go much further. Discover how redomestication lets you legally move your company to Florida or Texas without creating a new entity, without dissolution, and on a completely tax free basis while keeping your FEIN, contracts, credit history, and bank accounts intact. If you own a business in a high cost state and the numbers no longer work, this could be the most important decision you make this year. Learn more: https://www.cummings.law/redomestication/

Attorney and CPA Chad D. Cummings presents this powerful presentation on California's latest population decline, with the state losing 54,000 residents and recording its first overall drop since the pandemic as of January 2026. Los Angeles County alone saw 64,000 people leave in 2025, while those who departed are now saving an average of 672 dollars per month in housing costs and are 48 percent more likely to own a home within seven years. This presentation reveals the full picture, including California's 13.3 percent top marginal income tax rate, high property taxes, and crushing cost of living driving higher income residents and business owners out of the state. Meanwhile Florida continues to gain tens of thousands of high earning filers and billions in adjusted gross income thanks to zero state income tax and a far more favorable business environment. Learn exactly how California business owners can use redomestication to move their company to Florida or Texas without creating a new entity, without dissolution, and on a completely tax free basis while preserving their FEIN, contracts, credit history, and bank accounts. If you own a business in California and the numbers no longer add up, this presentation shows you the proven path to protect your future. Learn more: https://www.cummings.law/redomestication/

Attorney and CPA Chad D. Cummings presents this powerful presentation on the California Policy Lab study tracking households that left the state from 2016 through 2025. The data reveals that Californians who moved out saved an average of nearly 700 dollars per month in housing costs, paid 631 dollars less in rent, and saw median home prices drop by 396,000 dollars in their new states. Those who left became 48 percent more likely to own a home within seven years. The study shows higher income but financially stretched residents are fleeing California's 13.3 percent top marginal income tax rate, skyrocketing housing costs, and burdensome regulations. Meanwhile Florida gained 20.6 billion dollars in net adjusted gross income. This presentation explains exactly how California business owners can use redomestication to move their company to Florida or Texas without creating a new entity, without dissolution, and on a completely tax free basis while keeping their FEIN, contracts, credit history, and bank accounts fully intact. If you own a business in California and the numbers no longer work, this could transform your financial future. Learn more: https://www.cummings.law/redomestication/

Attorney and CPA Chad D. Cummings presents this powerful presentation featuring billionaire Stephen Ross, CEO of Related Ross and owner of the Miami Dolphins, declaring that South Florida's corporate relocation wave is still in the "first inning." Ross highlights major moves including ServiceNow's 200,000 square foot second headquarters, Wells Fargo's wealth management division, Cleveland Clinic Florida, and Vanderbilt University in West Palm Beach, along with his $10 million commitment with Ken Griffin to recruit more companies. This presentation breaks down the IRS migration data showing Florida gaining over 55,000 high earning residents and $20.6 billion in adjusted gross income while high tax states like California, New York, Illinois, New Jersey, and Maryland continue to lose billions. Learn why Florida's zero state income tax, pro business environment, and strategic advantages are attracting top companies and talent, and discover how redomestication enables business owners in high tax states to legally move their company to Florida or Texas without creating a new entity, without dissolution, and on a tax free basis while keeping their FEIN, contracts, credit history, and bank accounts intact. If you own a business in a high tax state, this is your opportunity to secure major tax savings and position your company for the biggest economic shift in decades. Learn more: https://www.cummings.law/redomestication/

Attorney and CPA Chad D. Cummings presents this powerful presentation exposing how Maryland Governor Wes Moore's repeated promise to "leave no one behind" has failed the state's small business owners. From seventh generation farmers buried in overregulation to cafe owners facing skyrocketing electric bills and declining customers to Chesapeake Bay charter captains abandoned by state leadership, Maryland businesses are struggling under the weight of the state's largest tax and fee increase in history, a median property tax bill of $4,144, and combined state and local income tax rates exceeding 8 percent for many owners. This presentation reveals the ongoing exodus of residents and businesses to Florida and Texas, where property taxes are lower and there is no state income tax, along with strong asset protection and pro business policies. Learn how redomestication allows Maryland business owners to legally transfer their company's domicile to Florida or Texas without creating a new entity, without dissolution, and without triggering federal taxes while preserving their FEIN, contracts, credit history, and bank accounts. If you are a Maryland business owner ready to escape high taxes and burdensome regulations, this presentation shows you the proven path forward. Learn more: https://www.cummings.law/redomestication/

In this presentation, attorney and CPA Chad D. Cummings highlights the crushing reality of property taxes across America. According to the latest U.S. Census Bureau data analyzed by Visual Capitalist, New Jersey residents pay a median of $9,358 per year in property taxes—the highest in the nation—followed closely by New York, California, and other high-tax states. In stark contrast, Florida’s median property tax bill is just $3,000, with no state income tax, no estate tax, and strong asset protection laws. Chad explains how these combined burdens are forcing seniors to keep working and making it increasingly difficult for business owners to build and preserve wealth. He then demonstrates why redomestication is the smartest solution—allowing you to move your existing LLC, corporation, or partnership to a low-tax state like Florida or Texas without dissolving the company, without forming a new entity, without losing your FEIN, and without triggering federal taxes. If you own a business and are tired of paying some of the highest property and income taxes in the country, this presentation shows you exactly how to reduce your total tax load and secure a better financial future. Learn more: https://www.cummings.law/redomestication/

In this presentation, attorney and CPA Chad D. Cummings analyzes the latest IRS migration data for 2022–2023, which shows a continued and accelerating flight of wealth and talent from high-tax states. Florida gained a net $20.6 billion in adjusted gross income, Texas gained $5.5 billion, while California lost $11.9 billion, New York lost $9.9 billion, and Illinois lost $6 billion. The people leaving high-tax states are disproportionately high earners and business owners, taking substantial income and economic activity with them. Chad explains why this trend is unlikely to reverse and how business owners can protect themselves by moving their companies as well. He details why redomestication is the cleanest, most tax-efficient way to transfer your existing LLC, corporation, or partnership to a low-tax state like Florida or Texas—without dissolving the company, without forming a new entity, without losing your FEIN, and without triggering federal taxes. If you own a business in a high-tax state and want to stop funding policies that drive people and capital away, this presentation gives you the data and the practical solution. Learn more: https://www.cummings.law/redomestication/

In this presentation, attorney and CPA Chad D. Cummings breaks down the alarming exodus of businesses from New York City. According to the Economic Development Corporation, New York City lost nearly 5,000 businesses in a single year, with the second quarter of 2025 alone seeing a net loss of over 8,000 employers—numbers comparable to the worst days of the COVID-19 pandemic. High taxes, crushing regulations, and skyrocketing commercial rents are driving companies out of the state and into lower-cost, business-friendly states like Florida and Texas. Chad explains why simply moving yourself is not enough and shows how redomestication is the smartest, cleanest, and most tax-efficient way to move your existing LLC, corporation, or partnership out of New York without dissolving the company, without forming a new entity, without losing your FEIN, and without triggering federal taxes. If you own a business in New York and are tired of rising costs and complexity, this presentation gives you the data and the practical legal solution to protect your company and secure a better future. Learn more: https://www.cummings.law/redomestication/

In this presentation, attorney and CPA Chad D. Cummings analyzes the latest escalation in California’s tax policies: the proposed 5% Billionaire Wealth Tax has gathered enough signatures to qualify for the ballot. Tech giants and billionaires including Sergey Brin (who spent $57 million fighting it), Larry Page, Mark Zuckerberg, and Peter Thiel are actively relocating both their personal residences and their companies out of California. Chad explains why this development signals increasing risk for all California business owners—not just billionaires—and why simply moving yourself while leaving your LLC, corporation, or partnership domiciled in California is no longer sufficient. He demonstrates why redomestication is the cleanest, most effective, and tax-efficient solution, allowing you to move your existing business entity to a lower-tax state like Florida or Texas without dissolving the company, without forming a new entity, without losing your FEIN, and without triggering federal taxes. If you own a business in California, this presentation gives you the critical context and the practical legal path forward before the tax environment becomes even more hostile. Learn more: https://www.cummings.law/redomestication/

In this presentation, attorney and CPA Chad D. Cummings examines California’s continuing population crisis. According to The Malibu Times and U-Haul data, California recorded a net loss of 216,000 residents in 2025—marking the sixth consecutive year of record outbound migration. High taxes, skyrocketing housing costs, insurance premiums, and quality-of-life challenges are driving tens of thousands of individuals and families out of the state each year, with Arizona, Nevada, and Texas as top destinations. Chad explains why simply moving yourself is no longer enough: if your LLC, corporation, or partnership remains domiciled in California, you continue paying California taxes and complying with its regulations. He demonstrates why redomestication is the smartest, cleanest, and most tax-efficient solution—allowing you to move your existing business entity to a lower-tax state like Florida or Texas without dissolving the company, without forming a new entity, without losing your FEIN, and without triggering federal taxes. If you own a business in California and are considering a move, this presentation gives you the critical data and the practical legal path forward. Learn more: https://www.cummings.law/redomestication/

In this presentation, attorney and CPA Chad D. Cummings breaks down the Tax Foundation’s 2026 State Tax Competitiveness Index, which ranks Florida #5 and Texas #7—while New York sits dead last at #50, New Jersey at #49, and California at #48. The data shows a clear and widening divide: low-tax states are creating far more favorable environments for businesses and individuals, while high-tax states continue to impose significantly higher burdens. Chad explains how these rankings translate into real dollars for business owners, especially those operating pass-through entities, and why simply moving personally while leaving your company behind is no longer enough. He details why redomestication is the most efficient and tax-efficient solution—allowing you to move your existing LLC, corporation, or partnership to a top-tier low-tax state without dissolving the company, without forming a new entity, without losing your FEIN, and without triggering federal taxes. If you’re a business owner tired of operating in one of the worst tax environments in the country, this presentation gives you the data and the clear path forward. Learn more: https://www.cummings.law/redomestication/

In this presentation, attorney and CPA Chad D. Cummings reveals a troubling trend confirmed by Realtor.com’s April 8, 2026 report: the share of Americans aged 65 and older who are still working has surged, especially in high-cost states. In the Northeast, 21% of seniors remain in the workforce—with New Hampshire reaching nearly 24%—largely because skyrocketing home prices, property taxes, and living expenses have made traditional retirement unaffordable. By contrast, in Florida only 17.2% of seniors are still working. Chad explains how the absence of state income tax, estate tax, and inheritance tax in Florida creates a dramatically better retirement environment, and why business owners with pass-through entities stand to save tens or hundreds of thousands of dollars by relocating. Most importantly, he shows why redomestication is the cleanest and most effective way to move your existing LLC, corporation, or partnership to Florida (or another low-tax state) without dissolving the company, without forming a new entity, without losing your FEIN, and without triggering federal taxes. If you're a business owner approaching retirement age and concerned about high taxes and living costs, this presentation offers both the data and the practical solution. Learn about redomestication: https://www.cummings.law/redomestication/

In this presentation, attorney and CPA Chad D. Cummings examines the growing divergence in state corporate income tax rates and what it means for business owners. According to the Tax Foundation’s January 2026 analysis, top corporate rates now range from North Carolina’s low 2.0% (heading toward zero) all the way up to New Jersey’s 11.5%. While 13 states have rates at or below 5% and two states (South Dakota and Wyoming) impose no corporate income tax at all, several high-tax states continue pushing rates higher. Chad explains how these disparities affect both C corporations and pass-through entities, and why leaving your company domiciled in a high-tax state is becoming increasingly expensive. Most importantly, he shows why redomestication is the cleanest, most tax-efficient way to move your existing LLC, corporation, or partnership to a lower-tax state without dissolving the company, without forming a new entity, without losing your FEIN, and without triggering federal taxes. If you own a business and want to reduce your corporate tax burden while protecting what you’ve built, this presentation delivers the data and the practical solution. Learn more: https://www.cummings.law/redomestication/

In this presentation, attorney and CPA Chad D. Cummings breaks down the latest development in California’s aggressive tax policies: the proposed Billionaire Tax has gathered enough signatures to appear on the ballot. This new wealth tax would impose a significant one-time levy on individuals worth more than one billion dollars and is expected to accelerate the already rapid exodus of high-net-worth individuals and businesses from the state. Chad explains the real impact this will have on California business owners and high-income earners, including increased pressure on pass-through entities and the growing risk of future tax hikes. Most importantly, he shows why redomestication is the cleanest, most efficient, and tax-efficient way to move your existing LLC, corporation, or partnership out of California to a lower-tax state like Florida or Texas—without dissolving your company, without forming a new entity, without losing your FEIN, and without triggering federal taxes. If you own a business in California and are concerned about the state’s continued tax aggression, this presentation gives you the critical information and practical solution you need. Learn more: https://www.cummings.law/redomestication/

In this presentation, attorney and CPA Chad D. Cummings explains the accelerating divergence in state income tax policy across the United States. According to a February 2026 Tax Foundation analysis by Jared Walczak, the middle has collapsed: only twelve states now have top rates between 5% and 7%, down from twenty-one states twenty years ago. Twenty-six states have reduced their top marginal rates (many well below 5%, with several at zero), while six states and the District of Columbia have raised theirs, with several now in double-digit territory and more increases under consideration. Chad breaks down how this growing gap affects pass-through businesses and why high-tax states are experiencing net outmigration of residents and jobs while low-tax states continue to gain. Most importantly, he shows why redomestication is the smartest and cleanest way for business owners to move their existing LLC, corporation, or partnership to a lower-tax state without dissolving the company, without forming a new entity, without losing their FEIN, and without triggering federal taxes. If you're operating in a high-tax state while lower-tax jurisdictions continue cutting rates, this presentation gives you the data and the practical legal solution to protect your business and your income. Learn more: https://www.cummings.law/redomestication/

In this presentation, attorney and CPA Chad D. Cummings breaks down the massive tax savings available to high-income earners and business owners who move to Florida. According to Barron’s (April 20, 2026), a New Yorker earning $1 million per year saves $104,600 annually in state income taxes by relocating to Florida—that’s $1.046 million over 10 years. A Californian in the same income bracket saves $130,000 per year. These savings don’t stop at income taxes—Florida also has no estate tax or inheritance tax, potentially saving hundreds of thousands or even millions more at death. Chad explains how these tax advantages compound for business owners with pass-through entities and why simply moving personally while leaving the company behind is only half the solution. He then shows why redomestication is the cleanest, most tax-efficient way to move your existing LLC, corporation, or partnership to Florida without dissolving the company, without forming a new entity, without losing your FEIN, and without triggering federal taxes. If you’re a high-income business owner tired of losing six and seven figures to high state taxes, this presentation gives you the numbers and the practical legal path forward. Learn more: https://www.cummings.law/redomestication/

In this presentation, attorney and CPA Chad D. Cummings reveals a surprising and costly problem: the most popular AI chatbots—ChatGPT, Gemini, and Perplexity—consistently give dangerous and incorrect advice when asked how to move an LLC or corporation from one state to another. They recommend dissolving the existing company and forming a new one, registering as a foreign entity, or performing a merger — approaches that can trigger unnecessary taxes, destroy your FEIN and credit history, create dual-state compliance burdens, expose owners to personal liability, and in some cases permanently terminate the company. Chad explains exactly why each of these AI-recommended methods is flawed or outright harmful, and why redomestication is the correct, tax-efficient, and least disruptive way to transfer your existing LLC, corporation, or partnership to a new state without dissolving it, without forming a new entity, without losing your FEIN, and without triggering federal income tax. If you’re a business owner thinking about relocating your company—or if you’ve already asked an AI for advice on this topic—this presentation will show you the real risks and the right solution. Learn more: https://www.cummings.law/redomestication/

In this presentation, attorney and CPA Chad D. Cummings reveals the dramatic impact of state taxes on homeownership and wealth building. According to a March 2026 Visual Capitalist analysis, it takes the average household in California 25.1 years to save for a 10% down payment on a median-priced home, compared to just 10.3 years in Texas. New York sits at 23.1 years, while the national average is 14.4 years. Chad explains how high state income taxes reduce discretionary income, slow savings rates, and make it significantly harder for families—especially small business owners with pass-through entities—to build wealth and achieve homeownership. He then shows why redomestication is often the most efficient and tax-efficient solution, allowing business owners to move their existing LLC, corporation, or partnership to a lower-tax state without dissolving the company, without forming a new entity, without losing their FEIN, and without triggering federal taxes. If you're a business owner in a high-tax, high-cost state struggling with long-term affordability, this presentation gives you the clear data and the practical legal path forward. Learn more: https://www.cummings.law/redomestication/

In this presentation, attorney and CPA Chad D. Cummings breaks down the stark divide highlighted by The Wall Street Journal in its April 14, 2026 editorial "The Growing State Tax and Jobs Divide." Since January 2020, high-tax states like California (-1.2%), New York (-1.3%), Massachusetts (-1.4%), and Oregon (-3%) have experienced net losses in private-sector jobs, while low-tax states have seen strong gains — Texas +10%, Florida +8.5%, North Carolina +7.9%, and Arizona +7.3%. The Journal makes clear that high individual income tax rates are hitting small businesses especially hard because most operate as pass-through entities (LLCs, S corps, and partnerships), where business income is taxed at the owner’s personal rate. Chad explains why redomestication is the smartest and most efficient way for business owners to move their existing company from a high-tax state to a low-tax state without dissolving the entity, without forming a new company, without losing their FEIN, and without triggering federal taxes. Avoid the costly mistakes of dissolution, foreign entity registration, or mergers. If you're a small or mid-sized business owner in a high-tax state, this presentation shows you how to protect your company and take advantage of the growing economic opportunity in low-tax states. Learn more: https://www.cummings.law/redomestication/

In this presentation, I will provide you with some of the most common 401(k) governance issues overlooked by plan committee members who are ERISA fiduciaries. I will explain the ERISA requirements of plan fiduciaries, as well as how these committee members may ensure they proactively review fee benchmarks and Investment Policy Statements on a regular basis while ensuring all committee reviews are documented with accurate notes.  I will also address the fiduciary’s role in selection and regular review of service providers.  Finally I will address the committee’s fiduciary role in regular review of how well participants understand their plan options and how to ensure oversight of cybersecurity risk. Learn more: https://www.cummings.law

In this presentation, I will provide you with an explanation how owners of small organizations can maximize their tax savings while also significantly contributing to their employees’ retirement savings with the overview of stacking a cash balance plan on top of a 401(k) Plan.  I will also discuss why offering only a 401(k) Plan is not sufficient for an owner’s retirement accumulation in a tax-favored retirement plan as well as provide examples of how integrating the two plans positively affect owners’ retirement accumulations.  Finally, I will explain why the age of owners and staff employees matter and explain which types of companies may not be a good fit for cash balance plans. Learn more: https://www.cummings.law/cb/

In this presentation, I will provide you with an overview of the the Trump Savings Accounts including who is eligible, the contribution limit which can be contributed annually as well as the pilot program for the federal seed contribution for newborns born between 2025 through 2028. I will also discuss the process for parents to establish the Trump Savings Account for each eligible child and then compare the Trump Savings Account with a Section 529 Education Savings Plan. I will summarize the key elements parents should consider when decided whether to establish a Trump Savings Account for eligible children. Learn more: https://www.cummings.law

In this presentation, I will provide you with overview of important legal considerations for an organization preparing an incentive compensation plan.  I will also discuss detailed Fair Labor Standards Act regulations regarding payment of incentive compensation to non-exempt (hourly paid) employees along with overtime recalculation requirements for nondiscretionary bonus payments.   Finally, I will provide an overview of additional multi-state regulations surrounding incentive plans.  Learn more: https://www.cummings.law

In this presentation, I will provide you with an overview of the federal requirements of a Qualified Domestic Relations Order (QDRO).  I will also share with a list of common hidden risks of a QDRO including the need for the document to address timing of the alternate payee distribution, whether the post-division alternate payee award should include investment, discussion of account award in the event of the death of either the participant or the alternate payee, as well as a deep dive on pension plan specific issues. Learn more: https://www.cummings.law/qdro/

In this presentation, attorney and CPA Chad D. Cummings examines the dramatic outflow of wealth from Massachusetts following the enactment of the 4% "millionaires tax" surtax. According to IRS migration data analyzed by the Pioneer Institute, $4.18 billion in adjusted gross income left the state in a single year—more than the previous year despite fewer people departing. The outmigrants carried exceptionally high average incomes, with the largest losses coming from high-earning professionals and business owners in the 26–35 and pre-retirement age groups. Chad explains how this "millionaires tax" has raised the effective top rate to 9% on income over $1 million, adding $40,000 per year in state taxes on a $2 million pass-through business income stream. He breaks down why redomestication is the smartest and cleanest way for Massachusetts business owners to move their existing LLC, corporation, or partnership to a no-income-tax state like Florida or Texas without dissolving the company, without forming a new entity, without losing their FEIN, and without triggering federal taxes. Avoid the pitfalls of dissolution or foreign entity registration. If you're a Massachusetts business owner concerned about rising taxes and lost economic opportunity, this presentation shows you exactly how to protect your company and your income. Learn more: https://www.cummings.law/redomestication/

In this presentation, attorney and CPA Chad D. Cummings explains why Delaware is losing its long-held dominance as the preferred state for corporate incorporation. Once chosen for the predictability of its Court of Chancery and the business judgment rule, Delaware’s legal environment has become increasingly unpredictable, as highlighted by the high-profile Tornetta v. Musk ruling and growing concerns from corporate leaders and small business advocates. Major companies are now reincorporating in Texas and Florida, where specialized business courts, stronger protections against speculative litigation, and favorable tax structures offer greater certainty and lower costs. Chad breaks down the real risks of staying in Delaware—including rising litigation, higher D&O insurance premiums, and unnecessary dual-state compliance burdens—and shows why redomestication is the easiest and most tax-efficient way to move your existing LLC or corporation out of Delaware without dissolving the company, without forming a new entity, without losing your FEIN, and without triggering federal taxes. If your company is still incorporated in Delaware but operating elsewhere, this presentation reveals why the old advice no longer makes sense and how to take advantage of better options available today. Learn more: https://www.cummings.law/redomestication/

In this presentation, attorney and CPA Chad D. Cummings breaks down why so many businesses are leaving California. A February 2026 report reveals that California’s regulations contain 3,737 restrictive constraints—far more burdensome than most states—contributing to the state’s lowest business start rate in the nation. Layered on top of this heavy regulation is one of the highest tax burdens in the country: a 13.3% top marginal income tax rate (14.4% when including the payroll tax), plus an $800 annual franchise tax on every LLC regardless of revenue. Chad explains how these combined pressures are driving headquarters relocations and job losses, with major companies like Tesla, Chevron, Palantir, Oracle, and Public Storage all exiting the state. Most importantly, he shows why redomestication is the easiest and smartest way to move your existing LLC, corporation, or partnership out of California without dissolving the company, without forming a new entity, without losing your FEIN, and without triggering federal taxes. Avoid the costly mistakes of dissolution or foreign entity registration. If you're a California business owner considering a move to a lower-tax, lower-regulation state, this presentation gives you the clear path forward. Learn more: https://www.cummings.law/redomestication/

In this presentation, attorney and CPA Chad D. Cummings explains why the choice of where your company is domiciled can cost or save you tens of thousands of dollars every year. Eight states—Alaska, Florida, Nevada, South Dakota, Tennessee, Texas, Wyoming, and New Hampshire—impose no individual income tax at all. For owners of pass-through entities like LLCs, S corporations, and partnerships, this means your business income could be taxed at 0% instead of up to 13.3% in California or over 10% in New York and New Jersey. While many states are actively cutting income taxes, a few are moving in the opposite direction with higher rates and new wealth taxes. Chad breaks down the massive tax savings available and why redomestication is the easiest, cleanest, and most tax-efficient way to move your existing company to a no-income-tax state without dissolving it, without forming a new entity, without losing your FEIN, and without triggering federal taxes. Avoid the costly mistakes of dissolution, foreign registration, or mergers. If you're a business owner tired of paying high state taxes, this presentation shows you exactly how to protect your income and act before rates rise further. Learn more: https://www.cummings.law/redomestication/

In this presentation, attorney and CPA Chad D. Cummings examines the accelerating migration of major companies and billionaires away from high-tax states like California and New York. From Palantir moving its headquarters to Miami, to ExxonMobil reincorporating in Texas, SpaceX and Tesla relocating to Texas, Oracle heading to Nashville, and numerous billionaires choosing Florida and other low-tax states, a clear pattern has emerged. These high-profile moves are driven by rising taxes, regulatory burdens, and the search for better business environments in Florida, Texas, Tennessee, and Georgia. Chad explains why simply dissolving your company or registering as a foreign entity is a costly mistake, and how redomestication allows you to move an existing company to a new state without losing your FEIN, without triggering federal taxes, and without disrupting contracts, bank accounts, or operations. If you're a business owner considering a move to escape increasing tax burdens, this presentation shows you the smartest and easiest legal path forward. Learn more: https://www.cummings.law/redomestication/

In this presentation, attorney and CPA Chad D. Cummings reveals why Florida has become the top destination for businesses in America. With nearly 700,000 new businesses formed in 2025 and over 67,000 filings in January 2026 alone, Florida leads the nation in business relocations and economic growth. Discover the powerful advantages — no state income tax, no inheritance tax, lower operating costs, and a business-friendly environment — that are attracting companies from across the country. Most importantly, learn why redomestication is the easiest and smartest way to move your existing company to Florida without dissolving it, without forming a new entity, without losing your FEIN, and without triggering federal taxes. Avoid the costly mistakes of dissolution, foreign registration, or mergers. If you're considering relocating your business to Florida, this presentation shows you exactly how to do it right. Learn more: https://www.cummings.law/redomestication/