Arizona’s limited liability companies (LLCs) are not required to file an annual report. Still, corporations and other business entities have to file an annual report to keep their business in good standing. But it’s a relatively painless process that can be done online.
This article will inform you how to file your corporation’s annual report in Arizona.
What Is an Annual Report?
An annual report simply verifies your business information and tells the state of Arizona that your corporation is still operating. In addition, keeping up with annual reports is a legal requirement that enables you to obtain a Certificate of Good Standing, which a bank or creditor might request to confirm your compliance.
In Arizona, the following information is required for the annual report:
How to File an Annual Report in Arizona
To file your annual report in Arizona, visit the Corporation Commission’s website and log in to your account.
Then you’ll select “file annual report” and fill in all the required information.
The fee for filing your annual report is $45, and reports are due on the anniversary date of your corporation’s formation.
If You Do Business in Other States
If you do business in other states, be sure to register in those states as a foreign LLC or corporation. For example, if your company is registered in Arizona and you start doing business in Florida, you’ll need to register in Florida as a foreign company.
You’re generally required to register as a foreign company if:
- You have a physical presence of any kind in that state
- You have employees in that state
- You regularly meet with clients, managers, or investors in that state
- You are licensed to do business in that state
Once you’ve registered as a foreign company, your business will need to follow the annual reporting requirements of that state and pay taxes in that state.
Filing an annual report in Arizona is relatively easy and crucial to smooth business operations.
Failing to file an annual report can result in serious penalties, as can filing an inaccurate report.
Review all your business information and file your report on time to ensure your company remains in good standing.