A corporation’s existence is formally established through its articles of incorporation. They include the corporation’s name, address, purpose, and the amount of shares it intends to issue, among other fundamental details. They also describe the corporate governance and management. To establish a corporation, articles of incorporation must be submitted to the Arizona Corporation Commission.
You must do the following actions in order to obtain articles of incorporation in Arizona:
2. Submit articles of incorporation: Online or postal submissions are also acceptable. Articles of incorporation are filed for a charge of $60. Your articles of incorporation will be examined by the ACC, who will let you know if there are any problems. 3. Obtain a certificate of incorporation: The ACC will issue a certificate of incorporation following the approval of your articles of organization. This certificate serves as evidence that your corporation was legitimately established in Arizona.
Additionally, articles of incorporation must be submitted if you want to establish a nonprofit corporation in Arizona. A nonprofit corporation’s articles of incorporation, however, differ from those of a for-profit corporation. The nonprofit corporation’s nonprofit mission and operations must be specifically mentioned in the articles of formation. For assistance with drafting your articles of incorporation, it is advised that you speak with a lawyer or a nonprofit group.
A certificate of good standing is a record that attests to the fact that your corporation complies with all applicable corporate regulations in Arizona. To conduct business in other states or to seek for specific licenses or permits, you might need a certificate of good standing. You must submit a request to the Arizona Corporation Commission in order to receive a certificate of good standing. A certificate of good standing costs $50. How long does it take to obtain an Arizona Certificate of Good Standing?
The Arizona Corporation Commission’s workload determines how long it takes to issue a certificate of good standing in Arizona. The processing time for a certificate of good standing request is often three to five business days. However, processing times could be lengthier during busy times, like the end of the year.
In summary, acquiring articles of incorporation in Arizona is a simple procedure. Your corporation must have a name, articles of incorporation must be submitted, and an incorporation certificate must be obtained. Your articles of incorporation must specifically mention the corporation’s nonprofit purpose and operations if you want to become a nonprofit organization. To confirm that your corporation complies with Arizona’s corporate statutes, you can also get a certificate of good standing from the Arizona Corporation Commission.
A nonprofit corporation must have a board of directors in Arizona, but there is no maximum number that can be set. The nonprofit’s bylaws should specify the number of board members. A diversified and well-rounded board that can successfully oversee and direct the nonprofit’s mission and activities is advised.
Yes, in Arizona, a single person may establish a nonprofit. To make sure the organization is effectively run and maintained, it is advised to have a board of directors and officials. Additionally, in order to receive IRS tax-exempt status, the creator might need to fulfill certain criteria and adhere to particular steps.