One of the initial actions you must take when starting a business in Arizona is to register your business name. The sort of business entity you are forming and the method you use to register your business name will determine how much it will cost to do so in Arizona. The price breakdown for registering a business name in Arizona is provided below.
In Arizona, registering a business name is reasonably priced for partnerships and sole proprietorships. For about $10, you may register your company name with the Arizona Secretary of State. Make sure you have the appropriate name before submitting your application because this cost is not refundable.
The cost to register a business name in Arizona is somewhat greater for Limited Liability Companies (LLCs). Articles of Organization must be submitted to the Arizona Corporation Commission along with a $50 filing fee. You must also submit an annual report each year and pay a $45 cost, which includes a $10 fee if you need to change the name of your company.
Due to its greater flexibility in terms of how you can be taxed, an LLC is typically a better option. LLCs have the option of being taxed as a partnership, S company, C corporation, or sole proprietorship. This gives you the option to select the tax structure that best suits your company’s requirements.
You can submit your LLC’s annual report to the Arizona Corporation Commission online or by mail. You must register on the Arizona Corporation Commission website in order to file documents online. The $35 online filing cost. You can download the annual report form from the Arizona Corporation Commission website and mail it in along with a check for $45 if you want to file by mail.
As long as it abides by state laws and regulations, an LLC in Arizona is valid for an endless amount of time. It is crucial to remember that an LLC is required to submit an annual report every year in order to avoid fines and possible dissolution.
Finally, even if your LLC is not making any money, it must still submit a tax return to the IRS. This is so that the LLC can be taxed as a separate company from its owners. If the LLC doesn’t make any money, the tax return will simply state “zero income.”
In conclusion, the cost varies in Arizona based on the kind of corporate entity you are incorporating. While LLCs must pay a $50 filing fee, sole proprietors, partnerships, and other business entities can register their business names for just $10. Additionally, LLCs are required to submit an annual report and pay a $45 fee, which includes a $10 cost if they need to change their company name. LLCs provide more tax flexibility, but they also have more paperwork that needs to be filed.
The establishment and management of corporations, limited liability companies, partnerships, and other commercial entities in the state of Arizona are subject to regulation and supervision by the Arizona Corporation Commission. This includes registering company names and making sure state rules and regulations are followed.