Filing An Arizona Corporation
Those creating a business in Arizona may find the Corporation structure appealing because it offers tax benefits and allows the entity to establish credibility with its customers and clients. When creating an Arizona Corporation, owners must ensure they are diligent with their regulatory filings.
Steps To Filing an Arizona Corporation
Choose A Name
The first thing that those looking to form a business must do is choose a name for their entity. The state of Arizona requires companies to include an indicator in their name, such as “company,” “corporation,” “limited,” “incorporation,” or an appropriate abbreviation, such as “Inc.” Additionally, the name that owners select must be unique to their entity. This means that they cannot choose a name that another organization is already using. To avoid this situation, owners should utilize the DoMyLLC Name Availability Check Page.
Choose An Agent For Service Of Process
After choosing a name, prospective owners will need to select a registered agent. The registered agent can be an individual or a third-party company and is responsible for accepting legal correspondence on the company’s behalf. Because of how vital a registered agent can be, many who form an Arizona Corporation elect to hire a professional third-party company, such as DoMyLLC.
File Articles Of Incorporation & Pay Filing Fees
Once a name and registered agent have been secured, those looking to form a business can begin filing the paperwork needed to form their Corporation. To do so, they’ll need to submit Articles of Incorporation to the Arizona Corporation Commission Corporate Division. There is a $60 fee to do so. Information required for this form includes:
- Corporation type: for-profit or professional
- The name of the company
- Character of business
- Authorization of shares
- Known place of business address
- Information about company directors
- Information about the statutory agent
- Optional provisions
File Initial Report
Arizona does not require a Corporation to file an Initial Report. However, if a company were to expand into another state, there may an Initial Reporting requirement. Owners should be mindful of this moving forward.
Create Corporate Bylaws, Appoint Directors And Hold Meetings
After filing the proper paperwork, the Corporation should hold an initial meeting. In attendance at this meeting should be the initial directors who were listed on Articles of Incorporation. These directors will serve in this capacity on the board until the next annual meeting of shareholders, where directors are up for election.
Once the board is in place, they can draft corporate bylaws and elect officers. Bylaws serve as the private internal operating manual for the company. The board of directors will need to approve the bylaws for the Corporation to begin conducting business. Similarly, many banks and insurers require proof of bylaws. They are an integral part of corporate compliance.
The state of Arizona also requires Corporations to issue stock, which the board of directors can do at initial corporate meeting. The amount of shares the board can issue is defined in the Articles of Incorporation. When issuing stock, the Corporation should keep records in a ledger thoroughly, as it will help protect the corporate veil and provide clarity to future investors. The board also has ability to issue stock throughout the life cycle of the company.
Obtain Employer Identification Number
An Arizona Corporation will also need to secure an Employer Identification Number if they wish to open a bank account in the business’ name. This number is also necessary to file taxes and hire employees.
File Arizona Required Annual Reports
An Arizona Corporation also needs to file its Annual Report each year. They can do so online. There is a $45 fee to do so. Companies can also elect to pay a $35 expedite fee, meaning the state will process their paperwork in “real time.” Learn more about yearly reporting requirements at our Arizona Annual Report page.
In addition to initial paperwork, an Arizona Corporation is also required to submit various filings each year. This includes taxes, licenses, and permits at both the state and federal level.
How DoMyLLC Can Assist With Streamlining The Process
Those who have just incorporated a company will want to dedicate themselves entirely to the business’ growth. Fortunately, DoMyLLC streamlines the administrative process, allowing them to do so. Our services include:
- Name availability check
- Prepare Articles of Incorporation
- File Articles of Incorporation with the Secretary of Arizona’s office
- Provide sample bylaws, meeting notices and minutes for meetings
- Dedicated account manager
- Unlimited customer support
No matter where you are in the process of registering your Arizona Corporation, DoMyLLC can help. Contact us today to learn more.