llc faq

LLC stands for limited liability company. The purpose is to separate a person's personal assets and liabilities from their business assets and liabilities. Rather than owners, the LLC has members. Articles of organization are filed with the Arizona Corporation Commission.

For tax purposes, the LLC is a disregarded entity. Meaning, the LLC is not recognized by the IRS. If the LLC is a single-member LLC, the default tax filing will be as a sole proprietorship. If there is more than one member, the default filing is a partnership. In either case, the member(s) may elect to file as an S-Corp. A competent tax advisor should be consulted.

We expedite all new LLC filings with the Arizona Corporation Commission, which generally takes about 7-10 days. However, for an extra fee, the Corporation Commission can process them in as little as 24 hours.