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Richard Keyt

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If a member of an Arizona LLC dies and the member did not take action to protect the member’s loved ones bad things will happen.  The failure to plan creates the following problems: 1. The membership interest of the deceased member may not be inherited by the person or people the deceased member would want to inherit the membership interest. 2. A person who inherits the membership interest of a deceased member of a multi-member LLC will not be a member of the LLC.  Instead, the heir will acquire only an economic interest in the LLC, which means the heir(s)…
jon-tyson-566CgCRSNCk-unsplash name IRS EIN Photo by Jon Tyson on Unsplash
Photo by Jon Tyson on Unsplash
The Internal Revenue Service has an online wizard that allows people to apply for and receive an employer identification number (EIN) for a company in a 5 – 10 minute data entry session. Companies need an EIN to open a bank account and file federal tax returns.  See our EIN online wizard video that shows how to complete the online application. Usually the online EIN wizard works great and people can quickly get an EIN for a newly formed company.  Unfortunately the online wizard sometimes rejects an EIN application because of “Reference Number 101,” which usually means the company’s name…
Section 326 of the USA PATRIOT Act is a statute that is intended to prevent the funding of terrorism and money laundering.  This federal law requires financial institutions such as banks and credit unions to verify and record the identity of every person who opens an account.  To open a bank account you must be able to verify your name, physical address, mailing address an date of birth. Here are documents that you can present to a bank to verify: Who you are:  driver’s license, social security card, passport, birth certificate, marriage certificate, divorce decree, legal name change certificate or…
A year ago Arizona’s new LLC law became effective as to all LLC and PLLCs formed in Arizona after August 31, 2019.  Today Arizona’s new LLC law applies to all Arizona LLCs and PLLCs formed before September 1, 2019.  Bottom line is ALL Arizona LLCs and PLLCs regardless of when they were formed need an Operating Agreement that is written for Arizona’s current LLC law, not the LLC law that was repealed on September 1, 2020. Warning for ALL Arizona LLC Owners: Members of all Arizona LLCs should read Arizona LLC attorney Richard Keyt’s article called 13 Ways Arizona’s New …
July of 2020 was a record-setting month for our LLC formations.  We formed 65 new Arizona LLCs and PLLCs that month.  Thanks to all of our new clients.  People love our low priced LLC formation services, which is why we have 212 five star reviews on Google, Facebook and Birdeye.  See the contents and prices of our three LLC packages.  Complete our online questionnaire to hire us to form an LLC or call Arizona LLC attorney Richard Keyt at 480-664-7478. The post We Formed 65 LLCs in July 2020, a Firm Monthly Record appeared first on Arizona LLC Law…
Memorial Day originated in the nineteenth century as a day to remember the U.S. soldiers who gave their lives in the American Civil War by decorating their graves with flowers. It is the day Americans remember the military men and women who died while serving our country. It is a day when people decorate the graves of our fallen military heroes.  Memorial Day this year is May 25, 2020. From World War I to today more than 40 million Americans have served in the U.S. military.  Over 1,136,000 people were wounded in combat and 660,000 gave their lives for our…
On April 22, 2020, the Arizona Corporation Commission announced that it added 2 hour and  “Same Day / Next Day Services.”  These filing fees are $400, $200 and $100, respectively.  Nevertheless I am still able to file LLC Articles of Organization and get them approved by the ACC on the same day for the $85 expedited filing fee. The following is the text of the ACC’s notice about its new services and fees. SAME DAY/NEXT DAY SERVICES Services offered: Same Day/Next Service will allow for 2-hour, same day or next day processing for a fee. Does not guarantee approval of…
As of April 1, 2020, we changed our Arizona LLC formation service to include same day filing and approval of the LLC’s Articles of Organization by the Arizona Corporation Commission.  We provide this unique service for NO ADDITIONAL FEE.  This mean all LLCs we form can begin doing business, open a bank account and receive income the same day we are hired and paid to form the LLC. The post Same Day Filing & Approval by the Arizona Corporation Commission for Our LLCs appeared first on Arizona LLC Law.…
There are two things I want you to take away from this blog post: 1. Effective March 24, 2020, the Arizona Corporation Commission closed its offices to the public.  This means it is not possible to go the the ACC’s office and hand file a document or make a request. 2. We can electronically file Articles of Organization for a new Arizona LLC and get it approved by the Arizona Corporation Commission on the same day we are hired.  See the contents and prices of our three LLC packages.  To hire us to form your LLC today submit our…
During 2019 we formed 535 Arizona LLCs and PLLCs, which is a firm record for the most companies formed in one year.  Our previous record for forming LLCs was 530 in 2012.  Since I started counting in 2002 I have formed 7,000+ LLCs and PLLCs.  People love our low prices and LLC services.  See the contents of our three LLC packages, the $397 Bronze, the $597 Silver (our most popular package) & the $997 Gold (for people who do not want their name and address on the Arizona Corporation Commission’s public records).  Note: We have the very appropriate URL…
Arizona voters passed  Proposition 206 known as as the Fair Wages and Healthy Families Act (the “Act”) on November 8, 2016.  The Act raised Arizona’s minimum wage to $12/hour as of January 1, 2020.  The Act also authorizes Arizona cities, towns and counties to pass ordinances that require a higher minimum wage within their boundaries. Flagstaff’s minimum as of January 1, 2020, is $13.00 per hour. Employers need determine if they are subject to Arizona’s minimum wage law because if they are then they must pay employees a minimum of $12/hour or $13/hour if the employer is subject to Flagstaff’s…
Because people ask us the same LLC formation questions over and over I created an article called  “How to Form an LLC in Arizona FAQ” that answers these LLC frequently asked questions.  The questions and answers are: How do I start an LLC in Arizona? How much does it cost to form an LLC in Arizona? How long does it take to form an LLC in Arizona? Do I have to publish my LLC AZ and Do I have to publish my LLC? What happens if you don’t publish your LLC? How do I start a LLC company?…
I created a new website called “We are Arizona LLC Attorneys” at www.azllc.com. We are Arizona’s premier LLC lawyers, which is why we have formed 7,000+ LLCs since 1992 and have 134 five star Google reviews and a total of 176 five star online reviews. The purpose of this new site is to make it easier for people to hire us to what we do best – form Arizona LLCs. Form an Arizona LLC for $397, $597 or $997 (the confidential LLC for people who do not want their name and address on the public records of the…
As of September 1, 2019, limited liability companies formed in Arizona are not required to have a known place of business in Arizona.  New Arizona LLCs must state in their Articles of Organization the company’s “principal address,” which can be a physical or mailing address any where in the world. Whether or not the new Arizona LLC must publish a notice of publication in a newspaper depends on the county in which the company’s statutory agent has its street address.  If the new LLC’s statutory agent’s street address is in Maricopa County or Pima County, publication of the Notice of…
Today, September 1, 2019, is the day that Arizona’s new LLC law replaces entirely the LLC law that was adopted in 1992.   I’ve written extensively about the new law.  I think it sucks for two reasons: It replaced a law that was not broken and did not need to be replaced. It replaces Arizona’s limited liability company act with what I call the liability company act because the new law creates many new ways that members and managers of an Arizona LLC can be sued. One Example of a New Way a Member of an Arizona LLC Can be Sued…