In Arizona, you can indeed change the name of your LLC. Nevertheless, depending on the state in which you founded your LLC, the procedure for altering the name of your LLC may be different. By submitting an amendment with the Arizona Corporation Commission, you can modify the name of your LLC in this state.
You must submit Articles of Amendment to the Arizona Corporation Commission if you want to rename your LLC. The Arizona Corporation Commission’s office or website both offer download options for the Articles of Amendment form. The current name of your LLC, the new name you wish to use, and the date on which the name change will take effect must all be entered into the form. Additionally, a $25 filing fee is required.
The tax identification number, or EIN, of your LLC will not be impacted by altering the name of your LLC, it is crucial to know. For tax purposes, even if the name of your LLC has changed, you must continue to utilize the same EIN. Any contracts, agreements, and other legal documents that make reference to the name of your LLC must also be updated.
An operating agreement and an LLC agreement are not equivalent in this regard. The ownership structure of an LLC is described in an LLC agreement, whereas the day-to-day operations of an LLC are described in an operating agreement. Although it is not necessary in Arizona, an operating agreement is advised since it can help settle conflicts between LLC members.
There are several options available for dividing ownership of an LLC. One strategy is to allocate ownership according to the sums that each member has contributed to the LLC. Another option is to allocate ownership according to how much each LLC member labors on the business. Before creating an LLC, it’s crucial to have a firm grasp on how ownership will be divided.
An LLC must be dissolved in order to be broken up, and its assets and liabilities must then be distributed among the members. An attorney should be consulted to guide you through this procedure because it might be challenging.
An LLC may also have more than one operating agreement. To make sure that the operational agreements do not clash with one another, though, is crucial. Any legal documents pertaining to the LLC should specifically identify and refer to each operating agreement if more than one is used.
In summary, renaming your LLC in Arizona is a simple procedure that necessitates filing an amendment with the Arizona Corporation Commission. An operating agreement and an LLC agreement are not the same thing, and there are numerous methods to divide an LLC’s ownership. An attorney should be consulted if an LLC needs to be divided up. Multiple operating agreements are permissible for an LLC, but they shouldn’t clash with one another.
The full legal name of the LLC should be stated first on a business card, followed by the abbreviation “LLC” or the full phrase “Limited Liability Company.” If the legal name of the LLC is “ABC Consulting, LLC,” for instance, the name on the business card should be “ABC Consulting, LLC” or “ABC Consulting Limited Liability Company.” You could also wish to add your name and position inside the business, such as “John Smith, Managing Member” or “Jane Doe, Owner.”