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Senate adopts streamlined conversion process for partnerships with modest fee
Summary
The Senate passed Senate File 24‑68 to allow partnerships to convert directly to other entity types (e.g., LLC) without a two‑step process and imposes a $50 filing fee; sponsors said the change simplifies business conversions.
Senate File 24‑68 eliminates the two‑step process currently required for a partnership to convert to another business entity (for example, converting first to a limited partnership and then to an LLC) and imposes a $50 filing fee for the conversion filing. Senator Taylor introduced the bill and said it "eliminates the 2 step process and there is a $50 fee imposed for the filing."
There was no substantive floor debate after the opening remarks. The Senate read the bill for the last time and recorded a roll call; the bill passed unanimously. The sponsor framed the bill as a simplification of corporate filing procedures to reduce administrative burden on businesses seeking conversions.
