Phoenix Business Creation Attorney
Forming a corporation has a number of very specific steps. To ensure these steps are properly executed, it is ideal to have an Phoenix business creation attorney taking care of the paperwork and the overall process. If you live in Arizona, Mesa, Glendale, Scottsdale or the surrounding area and wish to create a corporation, Myles Schneider & Associates, LTD can take care of the process for you.
The process is so involved because it involves multiple steps that, if not properly fulfilled, results in the corporation not being valid. If the corporation isn’t valid, then it can’t legally carry out its duties, creating a plethora of legal issues.
Guidance Through The Corporation Creation Process
The first step in corporation creation is choosing a name. Phoenix law requires that a corporation have any of the following words in the business name: bank, association, corporation, incorporated, limited, or company. Plus, the name of your business must be distinguishable from other corporations and entities in the state.
The rest of the process is as follows:
- Appoint a director or directors to the corporation
- Prepare and file the articles of incorporation with the Phoenix Corporation commission
- Create the bylaws for the corporation
- Hold an organizational meeting
- Issue stock certificates to the corporation’s initial owners
- Obtain the necessary local licenses
- Determine the tax and regulatory obligations of the corporation and fulfill the necessary registrations (EIN, Joint Tax Application, etc.)
- Open a bank account
Once the business is established, there may be other requirements, such as filing an annual report with the Phoenix Corporation Commission. There are also certain documents that must be kept at the place of business and shareholders must be given certain documents upon request.
Legal Advice You Can Trust
From this point, your attorney is there to advise you when you need guidance. For instance, you might start an S corporation instead of a regular corporation. This means that you don’t have to pay income tax except on certain types of passive income and capital gains because profit and loss passes through to the shareholders. You might find that there are times guidance is needed to ensure everything is in line.
Contact An Phoenix Business Creation Attorney
Overall, the corporation creation process can be highly involved, which is why it’s important to ensure all of the legalities are met. If you need to create a corporation, it is best to have a knowledgeable attorney helping you through the process. To learn more about how Myles Schneider & Associates, LTD can help you, call 602-926-7373 to request a free consultation.