Starting a business in Arizona is fairly straightforward process. It requires paperwork and money. That sounds simple enough until you look at the Corporation Commission’s website of forms. It can be a challenge to figure out what forms you need to submit. If you don’t do it right the first time, the Corporation Commission will make you do it again. If you want to create a manager-managed LLC in Arizona, here are the forms you’ll need. (There is an option to create a member-managed LLC, but I never advise client to do this, and here’s why.)
Cover Sheet – You need to include this cover sheet every time you send something in to the Corporation Commission.
Articles of Organization – This is the main application for starting a business where you have to state the name and address of the company, whether it’s manger or member-managed, who is the statutory agent. The instructions sheet will tell you about some of the limits regarding your company name and answer other common questions.
Manager Structure Attachment – You must include this with your Articles of Organization and list all the managers who own 20% or more of the company. If you think this is basically a repetition of a lot of the information from the Articles of Organization, you’re right.
Statutory Agent Acceptance – An LLC can be sued. Your statutory agent is the designated person who will accept service on behalf of the when the company gets sued. You can be the company’s statutory agent. It doesn’t have to be a third party, but you could hire someone to be your agent if you wanted. You must submit these forms and your filing fee to the Arizona Corporation Commission to start your business.
You have the option to pay an additional fee to expedite your application, but in most cases that is not necessary. You are allowed to act as if the business exists when you submit your paperwork to the Corporation Commission.
Remember one of the benefits of having an LLC is to protect your personal assets in the event that the business is sued. If you set things up correctly, only the business assets will be on the line, but to do this you must keep your corporate veil intact.
If your plans for 2014 include starting a business, you may also want to check out this post – How to Start a Business in Arizona. If you want to chat with me about this or any other topic, you can connect with me on Twitter, Google+, Facebook, YouTube, LinkedIn, or you can email me. You can also subscribe to the Carter Law Firm newsletter. Please visit my homepage for more information about Carter Law Firm.