Set up an LLC in Arizona
Updated on Thursday 01st July 2021
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An LLC in Arizona can be easily registered by local entrepreneurs or foreign investors in this state. Helped by one of our company formation specialists in USA, one can start a business in Arizona in a fast and reliable manner. The procedure is quite simple, as long as you respect a few important steps and requirements. In this article, we present you with the main stages for starting a business in Arizona.
Starting a business in Arizona – The main steps to consider
Arizona provides a great and powerful business climate for all kinds of entrepreneurs. Having one of the fastest economic growth in recent years, Arizona is preferred for many successful economic activities, simplified business registration, an experienced workforce, and many more. The limited liability company is the proper choice and also a common one for local entrepreneurs and also for those from abroad. Here are the main steps you should bear in mind when planning to register a business in Arizona:
- The business name – Once selected for your future activities in Arizona, make sure it is accompanied by abbreviations like LLC., L.L.C., L.C., Co., or by Limited Company or Limited Liability Company. The Secretary of the State of Arizona is the institution through which you need to make a name verification in the first place.
- A registered agent – An LLC in Arizona requires a registered agent with domiciliation in this state. If you need help in this sense, feel free to ask our representatives who can take care of this task.
- The company documents – The Articles of Association are the representative documents of the firm in Arizona. Complete information about the owners, the business activities, the date of incorporation are mentioned by such documents.
- The EIN for your LLC in Arizona - The registration for taxation is made with the IRS (Internal Revenue Service). Your company will be seen as a taxpayer only with the EIN or the Employer Identification Number.
- The licenses and permits – Starting a business in Arizona requires specific licenses and permits, whether state or federal, for activities in different industries. A restaurant, for example, needs an environment permit, health and safety permits.
- A business bank account – All the financial transactions of an LLC in Arizona will be made with the help of a corporate bank account. There are many banks in Arizona, so the collaboration with a specific one should be made in accordance with the business needs.
- An insurance policy – if you plan to register a business in Arizona, make sure you know how to protect it from the start. This is where an insurance policy is suggested and there are many companies through which you can choose the type of services you need.
Our company formation agents in USA can help you register a business in Arizona by handling all the formalities implicated. You can simply request a call back or send us an email with your business intentions.
What are the average costs for an LLC in Arizona?
One should prepare a budget for starting a business in Arizona, considering some fees for varied services and documents. For instance, the Article of Organization might cost around USD 50, but not exceeding EUR 100. The name reservation normally costs around USD 10 – USD 50, while the business license USD 50 – USD 100. The annual report fees and the costs for the registered agent in Arizona must be taken into consideration.
Foreigners and business activities in Arizona
As mentioned earlier in this article, Arizona is great for business, regardless of the nationality of the entrepreneurs. The limited liability company is an optimal choice for foreign investors in Arizona, as long as they respect the main requirements like having a registered agent, a corporate bank account, EIN, and all the taxes paid in time. We present you some facts and figures about business in Arizona that might raise your interest:
- There are more than 595,000 small businesses registered in Arizona, accounting for almost 100% of all companies with activities in this American state.
- Around 1.6 million employers are registered with the small firms in Arizona, representing around 44.5% of the private workforce.
- Arizona generates around USD 192 billion annual economic output, according to Chamberbusinessnews.com.
- In matters of taxation, about USD 10 billion are collected each year from small companies registered in Arizona.
Those who would like to register a business in Arizona can contact our team of company formation specialists in USA and look for complete support and guidance. We are at your service with any information you need for an LLC in Arizona.