Are You a Registered Agent?
Any business, LLC or Scorp needs a registered agent. This is the person who takes the responsibility of acting on behalf of the business entity. Registered agents usually keep in close communication with clients, making it easier for them to answer any questions that they might have. It’s no surprise that registered agents are in such a high demand.
Contact the Arizona Corporation Commission if you require assistance in finding a registered representative. They have an approved list of registered agents. You can request a copy from the Secretary of State. The contact details of the commission on the back page of the list. Send a request or phone an approved agent and they will be able to respond.
You will need to ensure that the registered agent you choose is knowledgeable about the law governing business. They should be accessible during business hours to manage your account. It is also important to be aware of whether the agent is available after hours for contact with you and your legal counsel. It is essential to be aware of whether the professional is located in your area, and if so, how they will travel to your location for a meeting. This is a common situation for professionals in the field.
Once you have elected the registered agent you want to use and chosen a counsel, you’ll need crucial documents. Among these documents will be the minutes from your initial meeting with the S-corp, or LLC. In Arizona the first meeting happens when all the paperwork required has been completed. The minutes of the meeting give you all the basic details you need to make an educated choice about whether to proceed. The minutes are not intended to contain negotiation information.
In order to incorporate a business it is necessary to send a letter of authorization to IRS. This letter serves as proof that your LLC granted you permission to operate the business. The paperwork will be submitted to IRS in the appropriate category. In many instances, you will find that an upcounsel is not needed for an address that is not current. A counsel is typically used in situations where there is a question about whether or not the Registered Agent for your company is honest. If you’re the proprietor of a company it is possible to get an upcoon.
All formalities aside All formalities aside, LLCs are legal entities that are independent from the proprietors of the underlying assets. According to tax law, LLCs can be treated as sole proprietorship. For this reason, there is no investment or liability protection is transferred through the company which makes it simpler to assess tax liabilities. Each year, your earnings and assets are taxed. Further complicating matters, most LLC operating agreements are the same as those of the company.
It is very important to understand that when filing your tax returns with the IRS, you are only providing an address for registering your business. While your Registered Agent can change your home address, they cannot alter the address of your business or change the ownership structure of the LLC. Any correspondence between IRS and Registered Agents will be handled via email or fax. It is not required to supply a contact phone number for your employer. For your convenience, you can request that your letters be sent to the office via the registered agent.
One of the first requirements that states place on businesses is the presence of a registered agent who is a resident or has his primary place of business in that state. Many states also require that Registered agents be residents of the state. If you’re unsure about whether you need to be a Registered Agent It is highly recommended that you contact your accountant or tax professional to discuss the options available. Although there isn’t any documentation required by the IRS, having a Registered agent in your organization can help you streamline the process of filing paperwork.