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The process to change a business structure (for example, change from a sole proprietorship to a corporation) is the same as starting a new business. Yes, transitioning a sole prop to an LLC or S corp will provide liability protection separating your business and personal assets. With sole props, owners have
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What you can do is form an LLC and then contribute assets (including an operating business) into that LLC. Doing so does not affect any business Sole Proprietorship Taxes Explained - Sherman the CPA
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How to Switch Your LLC to an S Corp The conversion of a sole proprietorship into a single-member LLC (SMLLC) is accomplished by filing a certificate of formation (or other required document),
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How would I switch from a Sole Proprietorship to an LLC? : r You should NEVER do business as a sole proprietor or DBA When you fail to form a LLC you are: 1️⃣ Not reserving your Get An LLC To Avoid Paying High Taxes?
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If it is a single owner LLC , you can simply form the LLC using the provider of your choice, and use the same federal EIN. Your LLC is How To Day Trade As a Business (Using an LLC)