Change my entity from company A to company B
Dear Amazon friends,
I need your professional opinion.
I used to have company B on Amazon but I close it voluntarily due to the low sales and high maintenance fee. No compliance issue or money dispute. Perfect record.
About 1 year later, I set up company A and opened a new amazon store.
Recently I got a new shareholder and he is not interested in the Amazon business. I am taking care of it by myself but the income/tax can be problematic.
My question is, can I change the entity name back to Company B, which is 100% owned by me?
If so, how can I change it? I don't want to risk my account being deactivated.
The bank account should all be same as it is currently under my personal name.
Thank you,
Amin
3 replies
Seller_rI7BZIczK8iAC
No, that is not allowed. A seller account cannot be transferred and changing the "Legal Entity" in your account settings IS transferring an account.
(P.S. You are an INDIVIDUAL and not a company since
A "Single Member LLC" is considered as INDIVIDUAL and not as BUSINESS. That doesn't play any role in your case, just wanted to mention it.
Seller_rI7BZIczK8iAC
I don't know exactly what you mean. For Amazon it doesn't matter if your "Legal Entity" is your private name "Jack White" or your Single Member LLC "Jack White LLC". For the US tax authorities and for Amazon you are in both cases an "Individual" and NOT a "Business". You are an Individual who HAS a business - and not who IS a business.
But yes, you are right, since your "Company A" and "Company B" are both Single Member LLCs you don't have to change anything in your account settings. You can continue with your existing seller account and list Brand A or Brand B (in case you created two brands) without problem.
Since you are not a business, that person is not a "shareholder". You should contact an accountant or tax specialist to specify how your business relationsship should look like. MAYBE you should create a "Multi Member LLC" for all your collaboration EXCEPT Amazon. And you should specify, who takes the benefit - if there is any - and who will have access to your common bank account....
