There Are Several Steps to Incorporation
Owning a business is a dream for many people. Once you are ready to start your company, you must decide what type of entity you wish to operate. A corporation is one of the most common types of business structures, because it offers some protection to you, personally, if the business fails. The steps to Incorporation are not difficult, but they must be done properly. It is important to gather all of the necessary information before you begin filling out the paperwork.
Articles of Incorporation
There are specific items that must be included in the articles of incorporation. These include:
- Corporation Name
- Name(s) of Board Members
- Purpose of the Corporation
- Business Address
- Number or Authorized Stock Shares
- Names and Contact Information for all Incorporators
The incorporator is the person, or persons, who are filing the required documentation and request. An incorporator is designated as such only for the purpose of filing for incorporation, and the person’s duties end once the task has been completed. The information provided must be correct. There is a non-refundable filing fee which must be paid at the time you submit the application.
The application and supporting documentation must be submitted by mailing it to the Arizona Corporation Commission. The forms that are required, along with instructions, are provided online. Print out the necessary forms, fill them out completely, sign them, and mail them with your payment. If everything is in order, you will receive confirmation and approval.
Once the application has been submitted, it must be approved by the Commission. Once approved, the incorporation is filed and your company has been incorporated. After approval, it is a requirement that you publish a copy of the incorporation document in the newspaper. Publication must be done within 60 days of approval. The newspaper must be on the current list approved for this purpose. You must publish in the paper for three consecutive publication dates. Keep the affidavit of publication that you receive from the newspaper as proof that it was completed.
Creating a new corporation is a big step in the process of starting your business. It is often advisable to have an experienced business lawyer assist in the incorporation procedure. Your attorney will answer your questions and will ensure that your business is properly incorporated and draft the By-laws of the corporation. The By-laws are the organizational documents used to govern the corporation. When you are ready to incorporate your business, contact the skilled lawyers at Udall Shumway PLC to schedule a consultation.
This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice regarding Steps to Incorporation, or any other commercial litigation matters, please feel free to contact Joel E. Sannes at 480.461.5307, or log on to udallshumway.com, or contact an attorney in your area. Udall Shumway PLC is located in Mesa, Arizona and is a full service law firm. We assist Individuals, families, businesses, schools and municipalities in Mesa and the Phoenix/East Valley.