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Business Name to LLC Tax Readiness Assessment | Qrafteq Brand Systems

Business Name to LLC Tax Readiness Assessment

Before you upgrade: Discover if you're truly prepared for the tax implications of converting your Business Name to a Limited Liability Company in Nigeria

Assessment Progress 0%
Personal Income Tax (PIT) History
1 Have you filed Personal Income Tax (PIT) returns for ALL years you've operated your Business Name?
2 Do you have a current Tax Clearance Certificate (TCC)?
3 Are there any outstanding tax assessment notices or demand notices from your State Internal Revenue Service?
Financial Record-Keeping
4 How organized are your business expense records?
5 Do you currently use accounting software or have a bookkeeper?
6 Can you clearly separate personal expenses from business expenses?
Bank Account & Transaction Visibility
7 How much total money flows through your business bank account annually?
8 Do you currently use separate bank accounts for business and personal transactions?
9 Are you aware that banks share transaction data with FIRS and State tax authorities?
Tax Knowledge & Compliance Readiness
10 Do you understand the difference between Personal Income Tax (PIT) and Company Income Tax (CIT)?
11 Are you aware of the "Small Company" tax status that allows 0% CIT on first ₦25M turnover?
12 Do you know what PAYE, WHT, and VAT obligations mean for an LLC?
Operational & Structural Readiness
13 If you upgrade to LLC, will you put yourself on a formal payroll with salary deductions (PAYE)?
14 Will your annual turnover exceed ₦25 million in the next 12 months?
15 How urgently do you need to upgrade to LLC?
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Ready to Upgrade!
25/30
83% Tax Ready
Your tax foundations are strong. You're well-positioned to upgrade your Business Name to an LLC.

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