Legal Question in Business Law in Arizona

Re: Llc

A professional limited liability company has as members and managers only those of a specific profession, i.e., all will be doctors, or all will be lawyers, or all will be accountants. The reason for this is so that decisions are only made by those professionals licensed and regulated by the state. To form a new PLLC or LLC or corporation, you begin by finding out what limitations are placed on your profession by the state as far as what type(s) of entity you can form and limitations on structure and management. Then make sure you have enough money to follow through with the whole process. Then you check with your accountant or attorney to find out what type of entity is most beneficial to your needs. Then you check to make sure the name for your LLC is available and not too similar to another business' name, or you might get sued. Then, you draft Articles of Organization for your LLC or PLLC or corporation (there are different formats). Then you file the Articles with the Corporation Commission (expedited if you want it Filed within a week or so), then publish the Notice after the Articles have been approved. Then have your first meeting of Members or Managers and set up the ownership and management structure. Then, if you haven't already, draft an Operating Agreement, LLC Resolution, Waiver of Notice and Minutes of Organizational Meeting, EIN Application, and state and city licensing as necessary. Our fees to create a Limited Liability Company are 750.00. This includes a Consultation (about what licenses and permits you might need and what type of entity to form), Preparation of Limited Liability Company Articles of Organization, Operating Agreement, LLC Resolution, Waiver of Notice and Minutes of Organizational Meeting; including EIN, expedited filing fee and 3 publishings.

Re: Llc

A professional liability company or professional corporation is the same as other corporations or LLCs, but the members or shareholders must hold a professional license, ie. lawyers, doctors, architects, engineers, etc.

Organization of an LLC requires filing the articles, publishing the articles according to law and the making of an operating agreement.

You should seek counsel in putting an LLC together, or you may fail to create the entity properly and not limit your liability or obtain the other benefits of operating a business as an LLC or corporation.