You might be wondering if you need to renew your Limited Liability Company (LLC) on an annual basis if you own one in the state of Arizona. You do, is the answer. To be an active business entity, LLCs in Arizona must submit an annual report and renew their registration each year.
The governmental agency in charge of policing LLCs in the state is the Arizona Corporation Commission (ACC). Between January 1 and April 1 of every year, they demand that LLCs submit an annual report. The LLC will finally be dissolved if the report is not submitted by the due date without paying a late fee.
Owners of LLCs are required to include information about the business in the annual report, including the company’s address, the members’ names and addresses, and a summary of its operations. The report is submitted electronically, and the filing fee is $45 per report.
Each year, LLCs must also renew their registration with the ACC in addition to submitting their annual report. The annual report and the $10 registration renewal cost both need to be submitted at the same time. What Does a Trade Name Mean in Arizona?
A trade name, commonly referred to as a DBA (Doing Business As), is a moniker used by a company to conduct business that is distinct from its official name. A company in Arizona must register its trade name with the ACC in order to utilize it. This registration must be renewed every five years and is distinct from the LLC registration.
It’s crucial to confirm if a trade name is available before registering it. There is a free online search engine offered by the ACC that enables you to look up already-used company names in Arizona. You’ll have to pick an alternative name if the first one is already taken.
You must submit a Trade Name Application to the ACC in order to create a trade name in Arizona. You must enter the name you intend to use, the business’s address, and the owner’s name and address on the application. A $10 filing fee is required for a trade name application, and the registration needs to be updated every five years.
No, in Arizona, two businesses cannot share the same trading name. The ACC keeps track of all registered trade names, and if a name is already in use, no other company may use it. If two businesses share the same industry or have names that are similar, they may need to engage with legal counsel to prevent confusion or intellectual property rights violation.
In conclusion, if you operate an LLC in Arizona, you must submit an annual report and renew your registration each year. You must also register your trade name with the ACC and renew it every five years if you run your business under that name. Before registering a trade name, it’s crucial to confirm that it’s available. In Arizona, businesses are not allowed to use the same trading name twice.