#LegalBytes: The Official Podcast of Cummings & Cummings Law

50 State Series: How to move your LLC or corporation out of North Dakota and keep your EIN

Attorney 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 [https://www.cummings.law/redomestication/] 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/ [https://www.cummings.law/redomestication/]

50 State Series: How to move your LLC or corporation out of North Carolina and keep your EIN

Attorney and CPA Chad D. Cummings examines North Carolina’s strong but incomplete tax competitiveness in this presentation. The state ranks 13th on the Tax Foundation’s 2026 State Tax Competitiveness Index with the lowest corporate income tax rate in the country at 2.0 percent and a legislated path to zero by 2030. However, North Carolina still imposes a 4.25 percent individual income tax, a franchise tax on net worth, limited Section 179 expensing, and other structural provisions that fall short of the zero-tax environments in Florida and Texas. This presentation shows how redomestication allows North Carolina business owners to transfer their company to another state [https://www.cummings.law/redomestication/] 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 Carolina, the progress is real, but zero remains the better number. Learn more: https://www.cummings.law/redomestication/ [https://www.cummings.law/redomestication/]

50 State Series: How to move your LLC or corporation out of New York and keep your EIN

New York ranks dead last on the Tax Foundation’s 2026 State Tax Competitiveness Index, below New Jersey, California, and every other state in the country. In this presentation, Chad D. Cummings, CPA, Esq., explains why New York has become the clearest warning sign for business owners, including its 10.9 percent top state income tax rate, New York City’s 3.876 percent income tax, combined state and city rate reaching 14.776 percent, tax benefit recapture rule, convenience of the employer rule, estate tax, aggressive corporate tax structure, highest state and local debt per capita in the country, and new pied-a-terre tax on second homes and investor-owned apartments valued at $5 million or more. On $1 million of annual pass-through income, a New York City business owner can face $147,760 of state and city income tax, compared to zero in Florida and zero in Texas. The presentation also explains how business redomestication can transfer a company out of New York [https://www.cummings.law/redomestication/] without dissolving the company, forming a new entity, losing its EIN, disrupting contracts, or sacrificing business credit history when handled with proper legal and tax formalities. Learn more: https://www.cummings.law/redomestication/ [https://www.cummings.law/redomestication/]

50 State Series: How to move your LLC or corporation out of New Mexico and keep your EIN

New Mexico has fallen from 20th to 28th on the Tax Foundation’s 2026 State Tax Competitiveness Index, making it one of the five most-declined states over the last six years. In this presentation, Chad D. Cummings, CPA, Esq., explains why New Mexico is losing ground, including its 2025 corporate tax increase to a flat 5.9 percent rate, 5.9 percent top individual income tax rate, gross receipts tax that pyramids through business-to-business transactions, combined state and local gross receipts tax rates reaching 9.44 percent, high per capita tax collections, energy-revenue dependence, and public pension plans funded at only 68 percent. The discussion also explains why New Mexico’s low property taxes and absence of an estate or inheritance tax do not offset the burden imposed on business owners through income taxes and gross receipts taxes. On $500,000 of annual pass-through income, New Mexico’s 5.9 percent income tax produces $29,500 of state income tax, compared to zero in Florida and zero in Texas. The presentation also explains how business domestication [https://www.cummings.law/redomestication/] can transfer a company’s legal domicile to Florida or Texas without dissolving the company, forming a new entity, losing its EIN, disrupting contracts, or sacrificing business credit history when handled with proper legal and tax formalities. Learn more: https://www.cummings.law/redomestication/ [https://www.cummings.law/redomestication/]

50 State Series: How to move your LLC or corporation out of New Jersey and keep your EIN

New Jersey is one of the least competitive tax states in America, ranking 49th on the Tax Foundation’s 2026 State Tax Competitiveness Index, with only New York ranking worse. In this presentation, Chad D. Cummings, CPA, Esq., explains why New Jersey has remained near the bottom for more than a decade, including its 11.5 percent top corporate income tax rate, 10.75 percent top individual income tax rate, marriage penalty, inheritance tax, exit withholding on real property sales, and some of the highest property tax burdens in the country. The discussion also explains why New Jersey’s income tax, enacted in 1976 to reduce property taxes, did not replace the property tax burden but instead became an additional layer on top of it. On $1 million of annual pass-through income, New Jersey’s 10.75 percent income tax produces $107,500 of state income tax, compared to zero in Florida and zero in Texas. The presentation also explains how business redomestication can transfer a company’s legal domicile [https://www.cummings.law/redomestication/] to Florida or Texas without dissolving the company, forming a new entity, losing its EIN, disrupting contracts, or sacrificing business credit history when handled with proper legal and tax formalities. Learn more: https://www.cummings.law/redomestication/ [https://www.cummings.law/redomestication/]