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In Phoenix, Arizona, new business formation entails establishing a new company or enterprise according to the relevant state law. It involves several steps which must be adhered to according to the Arizona Corporation Commission (ACC). The process includes selecting a name for the business, deciding on a legal structure, registering it with the state, obtaining the necessary licenses, permits and Employer Identification Number (EIN), among other steps. Any mistake in these procedural steps may lead to legal and financial implications in the future.
There are inherent complications when forming a new business, and having a lawyer will go a long way towards helping you avoid potential legal pitfalls. A lawyer can offer valuable advice when choosing the legal structure most suitable for your business, such as sole proprietorship, partnership, corporation, or Limited Liability Company (LLC). Furthermore, a lawyer will ensure that all documents are correct and filed timely with the relevant bodies. They could also help ensure that your business remains compliant with all local, state, and federal laws and regulations.
In Phoenix, new businesses must be registered with the Arizona Corporation Commission (ACC). The State law requires businesses to maintain a 'statutory agent', previously referred to as a 'registered agent'. This is an entity or individual authorized to do business in the state and who will accept legal documents on behalf of the company. Further, new businesses must also adhere to Zoning ordinances, Business Licenses and Permit laws, among others. For businesses hiring employees, compliance with the Fair Labor Standards Act (FLSA) is mandatory.
The primary requirements include selecting an appropriate business name and structure, registering the business with the ACC, obtaining necessary licenses and permits, getting an EIN, and appointing a statutory agent. Additionally, compliance with local zoning laws is also necessary.
Yes. A physical address is required to register your business in Phoenix, even if your business is home-based or online.
Non-compliance can lead to penalties, fines, lawsuits, and even the dissolution of the business entity by the state.
You should seek the services of a business attorney specializing in business formation, business laws, and regulations in Phoenix.
Business laws may change from time to time. Therefore, it is essential to keep up to date with the latest regulations to remain compliant. Having a qualified business attorney can help ensure you are always informed of these changes.
Prospective business owners can consult resources such as the Phoenix Business Services Guide produced by the City of Phoenix. Also, the Arizona Corporation Commission (ACC) and the Arizona Department of Revenue websites provide valuable information related to business formation and taxation. Another helpful resource is the Office of Small Business Assistance, which can guide through all steps of forming a business.
If you need legal assistance in forming your new business in Phoenix, kindly consult a reputable Arizona-based business attorney. Such professionals are well-versed in local, state, and federal business laws and regulations. Also, consider joining local business associations and chambers of commerce for additional assistance and resources.
