On the surface it looks like all that is needed to incorporate in Arizona is to file articles of incorporation with the ACC (Arizona Corporation Commission). Then follow up that filing by publishing the articles of incorporation in the newspaper a certain number of times (determined by the ACC). Then submit an affidavit of the newspaper publication to the ACC.
Fill out the forms, officially file the forms and have them published in the paper then send proof of that publishing to the ACC. Easy right? The truth is the process is more detailed than that.
When Marcia Busching ran for Arizona Corporation Commission in 2012, it was her aim to make this process more streamlined in order to promote business growth in Arizona. Today we will look at a case study regarding a company which sold vaporizer pens, e-cigarettes and vaporizer liquids. This company, whose website can be visited here, filed their vape pen company in 2013, after Marcia Busching’s failed bid.
First you need to choose a name for your Corporation that does not infringe upon a trademark that is filed by any other existing Arizona business and that meets all of the requirements set forth by the ACC (you can find these requirements in Arizona Revised Statutes Section 10-401).
After choosing a name (and getting it approved) you need to put together your articles of incorporation. In addition to the official forms, your filing package must include the following:
1. Proof that your name satisfies the ACC requirements.
2. Information on how many shares your corporation will be allowed to issue.
3. A statement about the character of the business that will be conducted by the corporation within Arizona’s borders.
4. A list of your interim directors that includes their names and addresses-these directors will probably be replaced by elected directors after the incorporation is complete.
5. The name, signature and street address for the person serving as the corporation’s statutory agent (person who can accept legal documents on behalf of and answer for the corporation).
6. The street address of the corporation’s physical location (if it is different than that of the statutory agent).
7. The names and addresses and signatures of each incorporator for the business.
As previously mentioned, any business hoping to incorporate in Arizona must have a statutory agent and that agent’s information must be listed in the articles of incorporation. The statutory agent must have a street address (not a post office box) and meet at least one of the following requirements:
8. An adult resident of the state of Arizona.
9. A domestic corporation that has been formed under the statutes of Arizona corporate law.
10. A foreign corporation that is authorized to do business transactions in Arizona.
11. A LLC that has been formed under Arizona law.
12. A LLC that is allowed to do business within the state of Arizona.
As you can see, there are a lot of details that must be met to complete the process of incorporating in Arizona. Did you know that the Arizona Corporation Commission no longer sends a reminder that your annual report is due? A good Statutory Agent will do that for you and ensure you stay current with these filings. This assures and maintains your good standing status with the state of Arizona or any other state for that matter. It is a good idea to hire a professional who is familiar with the steps to file your articles and also to set up the rest of your company. After all, it is better to be safe than sorry!