Start, Grow, or Transition Your Arizona Business

Have you decided to start your own business in Arizona? Maybe you already have a business but you want to change your entity classification. Either way, it is important to work with a business lawyer to make informed decisions. At LifePlan Legal AZ, we can help you understand your options and guide you through the process of business formations in Arizona.

Choosing the Right Business Entity 

You have probably heard of many different types of business entities. The most common include limited liability corporations, general partnerships, limited partnerships, corporations, sole proprietorship, and professional associations. The two most common are the c-corp (corporations) and the LLC (limited liability corporations).

• Limited liability corporation: if you want to limit your personal exposure in the event of a lawsuit or other legal action against the business, then an LLC may be most appropriate.
• Corporations (C-Corporation): this is usually reserved for large companies with many shareholders and employees. This type of entity comes with its own set of rules.
• There are also limited partnerships and general partnerships. These are limited by the number of partners and have at least one general partner (the person who controls the company) and limited partners.
• Sole proprietorship: this is typically a small to medium sized business that offers products or services on an individual basis, without any formal organizational structure.
• The final type of entity is professional associations. Professional associations are business entities that are limited in scope, usually to one specific industry.

Our team will help you understand the differences and the pros and cons of each. This discussion is important as it impacts the taxation of your business, any potential liability exposure for you and your partners, and your ability to transfer ownership in the future.

Setting Up Your Business 

Once you select the proper entity structure for your business, we will assist you in filing the appropriate documents and preparing organizational governing documents (such as articles of incorporation, by-laws, and operating agreements). These important documents create a roadmap for business growth.

Flat Fee Packages

Single Member or Multi-Member ARIZONA LLC FORMATION

Once we gather the necessary information, we prepare your Limited Liability Company (LLC) operating agreement and file your Articles of Organization with the Arizona Corporation Commission. Contact us for help with forming an LLC in Arizona.

Corporation Formation

Once we gather the necessary information, we prepare your corporation’s governing documents, including corporate bylaws and file your Articles of Incorporation with the Arizona Corporation Commission.

While these are the most popular business entities and packages we offer, don’t hesitate to ask about other entity formation types or business projects including our exit planning, growth planning, and Business Succession Planning services.

WE CAN HELP

Click here to schedule a free strategy session or call (602) 932-3187 to speak with a member of our team.

Types Of Business Formation Matters We Handle

The type of business entity you select affects your tax liability (if any), how you’re able to raise capital, and what kind of protections you have in the event of a civil action. Selecting the right business entity and properly setting up your business from the outset can prevent many expensive legal problems down the line. Our Mesa, AZ business formation layer helps you with these business formation legal matters and more:

• LLC Formation: A Limited Liability Corporation (LLC) is a flexible entity that offers considerable protection for the partners’ personal assets. An LLC also has a more simplified management structure than other types of business entities. Our firm drafts the operating agreement and other legal documents files them in the appropriate venues and advises you and your parents on compliance matters.

• C-Corporation Formation: A C-Corp is a registered business entity with the state of Arizona that offers limited liability protection for its shareholders. We draft your articles of Incorporation and file them with the Arizona Secretary of State, advise you on appointing a board of directors, and inform you of required actions, like an annual meeting and proper recordkeeping. Our firm can also advise you of your tax obligations and proper compliance.  

• S-Corporation Formation: An S-Corp is similar in function to a C-Corp, although this business structure avoids the double taxation that a C-corporation faces. Our Mesa business formation attorney drafts the documents necessary to form the entity, including incorporating it as a standard corporation, then guides you through filing your S-Corp election with the IRS.

• Partnership Formation (General & Limited Partnerships): We work with you and your business partners to establish a limited or general partnership, including drafting a comprehensive partnership agreement that covers each partner’s responsibilities and investments and contains clauses for dispute resolution. We prepare a customized, functional agreement.

• Sole Proprietorship: A sole proprietorship is a simple business formation, but it must still be properly and legally established. We advise you of your tax obligations and legal compliance and offer a risk management assessment.

• Nonprofit Organization Formation: To fully take advantage of the tax-exempt status of a nonprofit corporation, the entity must be properly established. We guide our clients through the process of securing their 501(c)(3) tax-exempt status and advise them on state and federal regulations applicable to nonprofits. We can also draft appropriate bylaws and governance policies and advise on fundraising protocols.

• Professional Entities (PLLCs & Professional Corporations): Licensed professionals, such as accountants, doctors, and lawyers, are subject to strict regulatory standards that they must adhere to. We assist with the formation of your PLLC in accordance with all and any requirements of your professional organization (e.g., the Arizona Bar Association) to ensure proper licensing compliance and protection of personal liability.

• Joint Ventures and Strategic Alliances: Our services include drafting the initial joint partnership agreement to align with your business goals. We can define the governance terms of your agreement and ensure you comply with all relevant legal and industry-specific regulations.

Do you need help forming a new enterprise? Our Mesa business formation lawyer guides you through the process to ensure your new entity is legally sound. Please contact LifePlan Legal AZ today for a professional consultation.