LLC Law Blog

Memorial Day originated in the nineteenth century as a day to remember the U.S. soldiers who gave their lives in the American Civil War by decorating their graves with flowers. It is the day Americans remember the military men and women who died while serving our country. It is a day when people decorate the graves of our fallen military heroes.  Memorial Day this year is May 25, 2020.

From World War I to today more than 40 million Americans have served in the U.S. military.  Over 1,136,000 people were wounded in combat and 660,000 gave their lives for our country.

Duty, Honor Country

by Five Star General Douglas MacArthur

The motto of the United States Military Academy at West Point is “Duty, Honor, Country.” On May 12, 1962, retired 82 year old U.S. Army General Douglas MacArthur, holder of the Medal of Honor and the leader of the Army in the Pacific theater during World War II, gave his now famous 34 minute “Duty, Honor, Country” speech without notes to the entire corps of 2,100+ West Point cadets. This speech is my favorite speech of all time on any topic. I re-read it several times a year because: (i) what the General says about military service and sacrifice and Duty, Honor, Country moves and inspires me, and (ii) what he said then is as true now as it has always been throughout the history of the U.S. military. I recommend you read the entire text of the speech and listen to an audio of the General’s speech. (more…)

During 2019 we formed 535 Arizona LLCs and PLLCs, which is a firm record for the most companies formed in one year.  Our previous record for forming LLCs was 530 in 2012.  Since I started counting in 2002 I have formed 7,200+ LLCs and PLLCs.  People love our low prices and LLC services.  See the contents of our three LLC packages, the $397 Bronze, the $597 Silver (our most popular package) & the $997 Gold (for people who do not want their name and address on the Arizona Corporation Commission’s public records).  Note: We have the very appropriate URL azllc.com.

We also set a firm record in 2019 for non-profit corporation formations of 34.  Our previous record for forming non-profit corporations in one year was 32 in 2018.

We now have 1,328 subscribers to our Arizona LLC law blog posts.  If you want to subscribe for free, enter your email address in the field in the right side bar under the text that reads:

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Cody Keyt, the KEYTLaw office dog, created an Instagram account.  Follow his Instrgram account at arizonalawdog.  See Cody’s biography web page.

This week a client gave us our 100th five star Google review.  We now have 214 five star reviews on Google and Birdeye.  Thanks to all who have given us a five star review. 

To crack down on terrorists, drug dealers and human traffickers the House Financial Services Committee in June of 2019 passed the Corporate Transparency Act.  The bill would require all limited liability companies and corporations that have less than $5 million of revenue or twenty employees to disclose to the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) personal information about the entity’s owners.

Each entity subject to this law must report to FinCEN the social security number, drivers license information, address, birth date and name of all owners of the entity.  The penalty for not complying is a $10,000 fine and up to three years in jail.

The Wall St. Journal said “The reality is that the law would hit small businesses with another compliance burden, their confidential information would become less secure, and real criminals are unlikely to be deterred.”

The National Federation of Independent Business (NFIB) said the law is a “threat to more than 5 million small businesses in America.”