Businesses Beware: Don‘t Get Hooked into Paying for Forms You Don’t Need
March 22, 2017
Over the years, I have come across what appear to be “official” correspondences from companies portraying themselves as state-related representatives. Their purpose is to “scare” a business into hiring them to prepare form corporate documents, stating that all corporations must file annual reports with the Arizona State Corporation Commission; however, many businesses, such as limited liability companies, are not required to file annual reports. In addition, the letters offer to prepare annual director and shareholder meeting minutes at fairly significant rates.
The bottom line – understanding your business structure and its reporting requirements is extremely important to ensure you are compliant. It is also prudent to prepare and retain annual director and shareholder meeting minutes; however, do not get hooked into paying “service” firms for forms you may not need, or that may be substandard or simply false. It is in a company’s best interest to confer with its attorney, or seek experienced legal counsel, regarding business filings, compliance and other legal needs.
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Please note that this client alert has been prepared by Jennings, Strouss & Salmon, P.L.C. for informational purposes only. These materials do not constitute, and should not be considered, legal advice, and you are urged to consult with an attorney on your own specific legal matters. Transmission of the information contained in this client alert is not intended to create, and receipt by the reader does not constitute, an attorney-client relationship with Jennings, Strouss & Salmon or any of its individual attorneys.
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