COMPANY FORMATIONELI CHMOUNI

DISCLAIMERI am not a lawyer

I am not giving legal advice

Please consult with an attorney

COMPANY TYPESSole Proprietorships

Partnerships

Limited Liability Companies (LLCs)

S Corporations

C Corporations

SOLE PROPRIETORSHIPS

Owner remains personally liable for lawsuits filed against the business.

No state filing required to form a sole proprietorship.

Easy to form and operate.

Owner reports business profit and loss on their personal tax return.

PARTNERSHIPSPartners remain personally liable for lawsuits filed against the business.

Usually no state filing required to form a partnership.

Easy to form and operate.

Owners report their share of profit and loss in the company on their personal tax returns.

S CORPORATIONSIndependent legal and tax structures separate from their owners.

Help separate your personal assets from your business debts.

Owners report their share of profit and loss in the company on their personal tax returns.

Limits on number of shareholders, who must be U.S. citizens or residents.

Must hold annual meetings and record meeting minutes.

C CORPORATIONSIndependent legal and tax structures separate from their owners.

Help separate your personal assets from your business debts.

No limit to the number of shareholders.

Taxed on corporate profits and shareholder dividends.

Must hold annual meetings and record meeting minutes.

LIMITED LIABILITY COMPANIES (LLC)Independent legal structures separate from their owners.

Help separate your personal assets from your business debts.

Taxed similarly to a sole proprietorship (if one owner) or a partnership (if multiple owners).

No limit to the number of owners.

Not required to hold annual meetings or record minutes.

Governed by operating agreements.

LLC IN AZArizona Corporation Commission http://www.azcc.gov/

NAME SEARCHVisit http://starpas.azcc.gov/scripts/cgiip.exe/WService=wsbroker1/connect.p?app=names-report.p to search for the name.

Your LLC name should be follow by LLC

For example BlueDream Group, LLC

Name reservation VS signing up directly

DOCUMENTSReserve the LLC name

http://www.azcc.gov/Divisions/Corporations/forms/starpas/formsSTPS/L001-Application-to-Reserve-LLC-Name.pdf

ARTICLES OF ORGANIZATIONhttp://www.azcc.gov/Divisions/Corporations/forms/starpas/formsSTPS/L010-Articles-of-Organization.pdf

MANAGER MANAGED VS MEMBER MANAGEDManager: http://www.azcc.gov/Divisions/Corporations/forms/starpas/formsSTPS/L040-Manager-Structure-Attachment.pdf

Member:

http://www.azcc.gov/Divisions/Corporations/forms/starpas/formsSTPS/L041-Member-Structure-Attachment.pdf

ADDITIONAL DOCUMENTSOrganizer:

http://www.azcc.gov/Divisions/Corporations/forms/starpas/formsSTPS/L042-Organizer-Attachment.pdf

Agent:

http://www.azcc.gov/Divisions/Corporations/forms/starpas/formsSTPS/M002-Statutory-Agent-Acceptance.pdf

COVER AND FEESCover:

http://www.azcc.gov/Divisions/Corporations/forms/starpas/formsSTPS/CFCVLR.pdf

Expedited VS Slow

FILED… NOW WHATConfirmation for Newspaper Publication

Choose a Newspaper

File Notice of Publication (Capitol Times)

GET AN EIN http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Apply-for-an-Employer-Identification-Number-(EIN)-Online

GROW YOUR BUSINESS

FAQLIMITED LIABILITY COMPANIES

1.   How do I form a limited liability company (“LLC”)?

2.   Can I form a nonprofit LLC?

3.   Should I form a professional LLC?

4.   Must the LLC have members?

5.   Can I have a single member LLC?

6.   Can the same person be the only member and the only manager?

7.   What if my LLC has a “managing member”?

8.   What is the difference between members and managers of an LLC?

9.   What is “management structure”?

10. What is a manager-managed LLC?

11. What is a member-managed LLC?

12. What is an operating agreement?

13. Does the operating agreement get filed with the Arizona Corporation Commission?

14. How do I change the address of the LLC?

15. How do I change members or managers?

16. How do I amend the articles of organization?

17. How do I move my LLC to another state?

18. How do I report a bankruptcy?

19. Who can sign documents for LLCs?

20. Statutory agent?

21. How do I get a Certificate of Good Standing?

22. How can I convert my LLC to a corporation?