10 Critical Facts Every LLC Owner Must Know

10 Critical Facts Every LLC Owner Must Know2018-01-10T15:06:05+00:00

Get a free copy of Arizona LLC attorney Richard Keyt’s article called “10 Critical Facts Every LLC Owner Must Know.” Richard has formed

 6,000+ Arizona LLCs.  In this article every prospective LLC owner must read before forming an Arizona LLC you will learn:

10.  The Articles of Organization of an AZ LLC must state if the LLC will be member managed or manager managed. Why every LLC formed by Richard Keyt has been one management type and not the other?

9.  Meetings of members and managers & minutes of meetings – yes or no?

8.  The IRS’s deadline for new LLCs to file IRS Form 2553 to elect to have the LLC taxed as an S corporation. If your LLC misses this deadline it could cost you $$$.

7.  How a good Operating Agreement signed by all of the members can prevent litigation.

6.  The LLC’s first line of defense against loss and why every LLC must have it.

5.  Does the state of formation affect liability for state income tax?

4.  Why the LLC must document adding a new member, eliminating a member and changing the share of profit allocation among members.

3.  Community property & separate property rules – If you are married and an Arizona resident you must understand how Arizona’s community property law affects your ownership of an Arizona LLC. How does a married Arizona resident own an interest in an Arizona LLC as separate property?

2.  What the members of an Arizona LLC must do to prevent a court from “piercing the company veil” and ordering the members to pay the LLC’s debts.

1.  WHEN YOUR LLC WILL NOT PROTECT YOU FROM LIABILITY!!!

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