Get the free Arizona Limited Liability Company Formation Agreement

Complete this agreement to hire Arizona LLC attorney Richard Keyt of the KEYTLaw, L.L.C. law firm (the “Firm”) to form an Arizona limited liability company for $599. This agreement outlines the

How to fill out arizona limited liability company

How to fill out Arizona Limited Liability Company Formation Agreement

1. Begin with the title 'Arizona Limited Liability Company Formation Agreement'.
2. Include the name of the LLC at the top of the document.
3. State the principal office address of the LLC.
4. Specify the duration of the LLC, whether it's perpetual or for a specific term.
5. List the names and addresses of the members or managers of the LLC.
6. Describe the purpose of the LLC and any business activities it will engage in.
7. Outline the management structure, indicating whether it will be member-managed or manager-managed.
8. Detail the capital contributions made by each member and the ownership percentages.
9. Include provisions for profit and loss distribution among members.
10. Provide a section for amendments to the agreement.
11. Include signature lines for all members or managers.
12. Optionally, you may have a notary public acknowledgment for added legitimacy.

Who needs Arizona Limited Liability Company Formation Agreement?

1. Individuals or groups looking to establish a business in Arizona as a Limited Liability Company (LLC).
2. Entrepreneurs seeking to protect their personal assets while operating a business.
3. Business partners who want to formalize their roles, contributions, and profit-sharing in an LLC.
4. Investors who want to ensure legal liability protection and clarity in the business structure.

People Also Ask about

What is the new LLC Act in Arizona?

The new LLC Act governs all LLCs formed in Arizona on or after September 1, 2019. It will govern LLCs that existed before then on September 1, 2020—at which time the old LLC law, which was originally enacted in 1992, is repealed. The 2019 law represents a significant change from the 1992 law.

What is the new LLC law in Arizona?

On September 1, 2020, the Arizona Limited Liability Company Act, which became law in 2018, repealed Arizona's LLC statutes and replaced them with a new and "improved" model that is more consistent with the laws of most other states - but also poses risks for unwary LLC managers and members.

Is there an annual fee for an LLC in Arizona?

The state fee for LLC formation in Arizona is $85. Most LLCs also need to pay to publish an announcement of their LLC formation in a local newspaper, LLCs in Arizona don't file annual reports, which means you won't need to pay an annual report fee.

Do you need an operating agreement for an LLC in Arizona?

The state of Arizona does not require limited liability companies to have LLC operating agreements. However, the Arizona Limited Liability Company Act does encourage the creation of one. As most LLCs are owned and operated by two or more people, an LLC operating agreement is a good idea.

What is the minimum tax rate for an LLC in Arizona?

LLC members are taxed at a 15.3% rate, while LLCs that choose C-corp status are taxed at 4.9%. In addition to this state income tax, LLCs pay transaction privilege tax, local city/county taxes, and occasionally industry-specific taxes. Keep reading to learn more about Arizona LLC taxes.

What is the new LLC rule?

FinCEN (Financial Crimes Enforcement Network, a department within the U.S. Treasury) states that the federal government requires LLCs in existence as of January 1, 2024 to disclose the owners of the business by December 31, 2024. Any new LLCs formed in 2024 has 90 days to comply with this law.

How long does it take for an LLC to be approved in Arizona?

LLC Processing Time by State StateStandard Processing TimeExpedited Processing Time Arizona 2 - 3 weeks 4 - 6 days Arkansas 2 - 3 weeks 14 - 16 days California 2 - 3 weeks 4 - 6 days Colorado 2 - 3 weeks 4 - 6 days47 more rows

How much does it cost to form an LLC in Arizona?

The filing fee ranges between $40 and $500 depending on the type of LLC you are forming and the number of members you have. As of 2020, the average filing fee for an LLC in the United States is $132, but in Arizona, it's $50 for standard LLCs.

For pdfFiller’s FAQs

What is Arizona Limited Liability Company Formation Agreement?

The Arizona Limited Liability Company Formation Agreement is a legal document that establishes the formation of a limited liability company (LLC) in Arizona. It outlines the structure, management, and operational procedures of the LLC.

Who is required to file Arizona Limited Liability Company Formation Agreement?

The individuals or entities intending to create a limited liability company in Arizona are required to file the Arizona Limited Liability Company Formation Agreement. This includes members or owners of the LLC.

How to fill out Arizona Limited Liability Company Formation Agreement?

To fill out the Arizona Limited Liability Company Formation Agreement, you must provide the LLC name, the principal office address, the names and addresses of members or managers, the purpose of the LLC, and any additional provisions as required by Arizona law.

What is the purpose of Arizona Limited Liability Company Formation Agreement?

The purpose of the Arizona Limited Liability Company Formation Agreement is to legally establish the LLC, define its governance structure, protect the members' personal liability, and outline the rights and duties of the members.

What information must be reported on Arizona Limited Liability Company Formation Agreement?

The Arizona Limited Liability Company Formation Agreement must report the LLC name, principal office address, duration of the LLC, names and addresses of members or managers, and a description of the business purpose.