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A Reliable Statutory Agent Will Help Your Arizona Small Business

Are you starting an LLC in Arizona? We’ll cover everything you need to know about statutory agents in Arizona, including: What is a statutory agent? Why do you need a statutory agent in Arizona? Why it helps to work with a small business attorney FAQs about statutory agents in Arizona What to do if you need help Statutory Agents A…

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The Difference Between Multi-Member and Single-Member LLCs in Arizona

Whether you choose a multiple-member or single-member LLC, you’ll have to consider more than just the number of people it involves. Due to the benefits and drawbacks of each classification, a single person may choose to create a multiple-member business, while multiple people may choose to opt for single-member companies.  When it comes to multiple-member companies, you will need to…

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How to Determine the Best Tax Classification for Your Arizona LLC

Every new LLC owner must think about tax classification and has a variety of options. Unlike other similar business forms, LLCs allow members the flexibility of choosing to be taxed as a corporation. The three main tax classification options for an LLC are corporation (with S corporation or C corporation as two sub-options), partnership, and disregarded entity.  When selecting a…

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Understanding the Benefits of Your Arizona LLC Being Taxed as a S Corp

An LLC (limited liability company) is an entity formed to run a business according to state law. This type of entity comes with some of the advantages of a corporation but is less difficult to operate and form. When you create a business entity, it will automatically receive a tax classification. However, you can change it by filing certain forms…

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Creating an Operating Agreement for a LLC in Arizona

A Limited Liability Company operating agreement outlines the member duties and ownership specifications of your LLC. This agreement gives you a chance to define the working relations and financial concerns among the members (business owners) and between managers and owners. In Arizona, an operating agreement can include any legally sound provision that relates to operation of the LLC and involves…

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What’s the Difference Between a Sole Proprietorship and an LLC?

Many new businesses are started without the proper understanding of the possible legal and financial ramifications that may arise from improper designation of their entity. This in part is caused by the many legal ways to structure a new business, such as S Corporations, limited liability companies, regular corporations and partnerships. The most common forms of structuring a new small…

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How to Get an Employer Identification Number (EIN) in Arizona

An employer identification number (EIN) is issued by the IRS and serves as a way for a business to be legally recognized. In addition to this an EIN serves as the identification required to obtain a business loan, open an account or to apply for state and federal licensing. Once an EIN has been obtained, an individual or corporation is…

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Arizona Corporation Commission’s Certificate of Good Standing

A certificate of good standing is obtained from the Arizona Corporation Commission, and serves as proof from the state that a company is authorized to do business in the state. Usually, a certificate of good standing is required to be obtained before a business begins to operate as it is required for basic business actions. A Certificate of Good Standing…

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Starting a S Corp

When word gets out that you’re starting a business, suddenly everyone in your social circle becomes a business expert. One of the most common pieces of “friendly advice” new business owners get is to form an S Corp for tax advantages, though the armchair expert offering this advice can rarely expound on what an S Corp is and what the…

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How to Pay Taxes on an LLC

Limited Liability Companies (LLCs) are commonly referred to as a tax pass-through entity. Where corporations pay corporate taxes, LLCs do not pay taxes at the business level. Instead, the company’s profits and losses are passed to the owners, who report their respective gain or loss on their annual income tax return. Paying Taxes on Income From an LLC in Arizona…

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