Change status from L1B to H1B


I am on L1B visa with Comapny A. Comapny B had sponsored my H1B. If my visa is approved , i am eligible to work from October 1st. How can i change my visa status? If Company A want to buy out my H1B, can i transfer immediately or need to wait for payslips to generate?

To change visa status, you have to approve change of status application to USCIS and have it approved, before you can start working on H1B.

company A cannot buy out H1B, there are no such things. The cleanest way of doing it is you can resign and join company B after your change of status is approved, after which the company A can hire you as contractor. Else, you will have to resign A join B then comp A has to hire you back after transferring your visa.