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How to open a corporation in Arizona

 
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Category : > Articles Directory To Open A Corporation in The USA
Posted On : Tue Nov 08th,2016

 
A Complete Guide To Register a Corporation in Arizona
 

How to register a business name in Arizona as a corporation?

What is Arizona Corporation?

A business structure operating legal activities with the objective to earn profit in Arizona, restricted the  liability of its members limited to the extent of their respective investment in the business, having its own common seal to enter into an agreement, can sue or be sued by its own name may called Arizona corporation.

Types of Arizona Corporation

  • Profit Corporation
  • Non profit Corporation
  • Professional corporation
     

Days required for incorporation in Arizona

Normally it will take approximately 3-5 working days to incorporate in Arizona.

Who can set up an Arizona corporation?

Any one or more than one person can setup an Arizona corporation. They have to file articles of incorporation with the Arizona Corporation Commission. These persons may be called promoters or incorporators. These persons may be natural persons or existed legal business entities.

What are articles of incorporation?

Initial document prepared by the incorporators consisting basic information of the corporation such as name, structure of shares, purpose of the corporation, particulars of incorporators, particulars of statuary agent and registered address of the corporation.

This guide will help you to complete procedure to register a profit corporation in Arizona; you may file via mail or in-person at the counter, online service is not available in Arizona. Despite its simplicity I recommend you to hire an attorney or professional accountant to setup Arizona Corporation because of legal implications.

Step 1: Check Arizona name availability

You can check availability with the Arizona Corporate Commission by mail, in-person, or online. While choosing the name of the corporation it is recommended to go through the instructions issued by the Arizona State available at Arizona Legislature’s website, www.azleg.gov.

Your name must not be deceptive with already registered corporation. and it must contains the word “association”, “bank”, “company”, “corporation”, “limited”, or “incorporated”.

Step 2: Reserve the available name

Upon availability of name you have the right to reserve it free of cost for 120 days, which is non-renewable. If you will use online check you will have the option to reserve it instantly.

Step 3: Avail documents to file with Arizona Corporate Commission

Following documents are required to setup an Arizona Corporation; you may download from the website of Arizona corporate Commission.

  • Cover Sheet
  • Articles of Incorporation
  • Director Attachment (if applicable)
  • Incorporator Attachment (if applicable)
  • Statutory Agent Acceptance
  • Certificate of Disclosure with any applicable attachments
  • Payment

Step 4: Prepare and file Documents

Cover Sheet: Here you have to provide information about your nature of filling, name of corporation, option of expedite service, payment details and return delivery option

Articles of Incorporation: This is the most important document, you have to provide following details.

  • Entity type (either profit/business corporation or professional corporation)
  • Entity name (name already reserved with the Arizona corporate commission)
  • Character of business (specify the purpose of the corporation or activity to be performed in Arizona)
  • Details of shares (authorized share may any type or with combinations like common, preferred, with or without par value etc, but must not be zero)
  • Street address of corporation (this may the street address of the Statuary agent or any other street address in Arizona)
  • Initial directors (specify the name and business address of the all directors consented to act as a director)
  • Statuary agent (may called registered agent, which may be natural person or business entity, provide the name, street address and mailing address)
  • Particulars of incorporators (Provide name, address and signature of all incorporators)

 

Director Attachment: You have to provide director attachment form along with the articles of incorporation if the directors are more than the space provided in the articles of incorporation.

Incorporator Attachment: you have to provide incorporator attachment form along with the articles of incorporation if the incorporators are more than the space provided in the articles of incorporation.

Statutory Agent Acceptance: every corporation is required to submit the declaration or acceptance of statutory agent or registered agent along with particulars such as name, street address and mailing address.

Certificate of Disclosure: All corporations must have to file certificate of disclosure along with the articles of incorporation to Arizona corporate commission. There is no separate filling fee for certificate of disclosure. The purpose of this document is to check the criminal record of the directors, incorporators or any other officer of the corporation.

Payment:  You have to pay prescribed filling fee of articles of incorporation. You request can’t be proceeded without payment of filling fee. You may pay through cash, checks, pay order or credit card.

Step 5: Prepare and Adopt Bylaws

Every corporation has to adopt bylaws but not required to file with the Arizona Corporate Commission. All internal process and procedures adopted by the corporation may called bylaws. These must be in written shape and may include anything which is not prohibited by law.

Step 6: Comply with other legal requirements

  • Federal Taxpayer Identification number from internal revenue service (IRS)
  • Licenses and permits from relevant departments of Arizona State.
  • Comply with zoning requirements of cities and counties of Arizona State.

Step 7: Maintain Arizona Corporation

Annual report: Every corporation has to file annually a report along with prescribed fee with Arizona corporate commission. Failure to file annual report may raise penalties and ultimately dissolve by Arizona State. You may file electronically or paper filling.

Arizona Certificate of Good Standing: some time many stakeholders require you to provide certificate of good standing, which is conclusive document of Arizona corporation compliance evidence of legal requirements. You may get either electronically or paper filling after paying prescribed fee with the Arizona corporate commission.

C-Corporation vs. S-Corporation: Actually these are not any kinds of corporations, C-Corporation has different tax structure and S-Corporation has different tax structure, you have the option with internal revenue service to adopt any tax structure

(Management Tip by the Author: Always fix the problem either exists or not, it will help you to maintain quality and controlled environment)

  

Abdul Wahab

MS Management Sciences, ACMA, APFA


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