A ‘flip’ in this sense, is the process of legally creating a new company, with your existing company now being owned by the new company. The actual process involves creating the new company, and then ‘flipping’ it above your current company by swapping the shares you own now, for shares in the new company. The holding company, in return, takes your shares in the existing business, as it now owns it.
Bank Accounts for Businesses Started in the US
One of the very first and the most important things...
Read More