Starting a corporation in Arizona? Get information on how to get started including the forms you’ll need, how to file the paperwork, a timeline for registering your company, and more.
Ready to start your business?
Excellent
by Jane Haskins, Esq.
Jane has written hundreds of articles aimed at educating the public about the legal system, especially the legal aspe...
Updated on: November 28, 2023 · 4 min read
Forming a corporation can shield you from liability for your company’s financial obligations. A corporation’s liability is generally limited to the assets in the corporation, and creditors cannot collect from the corporation’s shareholders personally. Forming a corporation can also help shield you from liability if one of your employees is accused of doing something illegal.
Your corporation’s existence begins as soon as you file articles of incorporation with the Arizona Corporation Commission, unless the articles specify a later date. To form a corporation, file the articles of incorporation, together with a cover sheet, statutory (registered) agent acceptance form, certificate of disclosure form, and filing fee.
The articles of incorporation may contain many provisions, but at a minimum, they must contain the following:
In the section of the articles regarding stock structure, you must include the following information:
After you receive an approval letter from the Arizona Corporation Commission, you must publish a notice of incorporation. The approval letter will contain instructions for doing this.
Ready to form a corporation? GET STARTED NOW
It is a good idea to find out if your proposed corporation name is available before filing your articles of incorporation. You can conduct a search on the Arizona Corporation Commission website and then reserve a corporate name for 120 days by submitting a form to the commission.
Your corporation’s name must meet the following criteria:
An incorporator is responsible for signing and filing the articles of incorporation. Incorporators’ names and addresses must be listed in the articles of incorporation. Keep in mind the following when specifying your incorporators:
A corporation’s directors have responsibility for establishing corporate policies and procedures and managing the affairs of the business. Directors have a duty to act in good faith and be diligent and prudent in managing the corporation’s affairs.
Every corporation must have at least one director. There is no upper limit on the number of directors. The articles of incorporation or bylaws should set the number of directors.
Arizona law does not place limitations on who can serve as a director, but you can include eligibility requirements in your articles of incorporation or bylaws.
A registered agent, also called a statutory agent, is a person who receives official correspondence and legal papers on behalf of the corporation. A registered agent can be an individual who resides in Arizona and has an Arizona street address or a corporation or LLC that is authorized to conduct business in Arizona.
The registered agent must agree in writing to serve as an agent. A form for this purpose is available from the state.
You are required to describe the general character of the business your corporation will initially conduct. This is not a limitation on the kind of business you can conduct, as you can change your business purpose in the future.
A corporation’s bylaws set the corporation’s rules and procedures and serve as a guideline for operating the corporation. Arizona law does not specify what the bylaws must contain. Bylaws typically include such provisions as the number of directors, how they are chosen, and the number of votes required for a particular action.
While your corporation must have bylaws, you do not need to file them with the state. Bylaws cannot include any provisions that are inconsistent with the law or the articles of incorporation.
The Arizona Corporation Commission requires a fee when filing articles of incorporation or reserving a corporation name. Corporations are also required to pay state and federal income taxes.
Ready to start a corporation in Arizona? LegalZoom provides Arizona corporation formation and filing services, including providing a registered agent in Arizona.
You may also like
How to Write a Will: A Comprehensive Guide to Will Writing
Writing a will is one of the most important things you can do for yourself and for your loved ones, and it can be done in just minutes. Are you ready to get started?
July 21, 2024 · 11min read
How to Get an LLC and Start a Limited Liability Company
Considering an LLC for your business? The application process isn't complicated, but to apply for an LLC, you'll have to do some homework first.
July 29, 2024 · 11min read
How to Start an LLC in 7 Easy Steps (2024 Guide)
2024 is one of the best years ever to start an LLC, and you can create yours in only a few steps.
July 29, 2024 · 22min read