{"id":1135,"date":"2010-09-05T09:37:50","date_gmt":"2010-09-05T16:37:50","guid":{"rendered":"http:\/\/www.keytlaw.com\/azllclaw\/?page_id=1135"},"modified":"2022-01-31T07:36:46","modified_gmt":"2022-01-31T14:36:46","slug":"10-critical-facts","status":"publish","type":"page","link":"https:\/\/www.keytlaw.com\/azllclaw\/10-critical-facts\/","title":{"rendered":"10 Critical Facts Every LLC Owner Must Know (in 2022)"},"content":{"rendered":"<p style=\"text-align: justify;\">Get a free copy of Arizona LLC attorney <a href=\"http:\/\/www.keytlaw.com\/attorneys-staff\/richard-keyt\/\" target=\"_blank\" rel=\"noopener noreferrer\">Richard Keyt&#8217;s<\/a> article called \u201c<span style=\"color: #ff0000;\"><strong>10 Critical Facts Every LLC Owner Must Know.<\/strong><\/span>\u201d Richard has formed <div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-1 fusion-flex-container hundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-overflow:visible;--awb-flex-wrap:wrap;\" ><\/div><div class=\"fusion-builder-row fusion-row fusion-flex-align-items-flex-start fusion-flex-content-wrap\" style=\"width:calc( 100% + 0px ) !important;max-width:calc( 100% + 0px ) !important;margin-left: calc(-0px \/ 2 );margin-right: calc(-0px \/ 2 );\"><\/div><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-0 fusion_builder_column_1_1 1_1 fusion-one-full fusion-column-first fusion-column-last fusion-column-no-min-height\" style=\"--awb-bg-size:cover;--awb-margin-bottom:0px;width:100%;\"><div class=\"fusion-column-wrapper fusion-flex-column-wrapper-legacy\"><div class=\"fusion-clearfix\"><\/div><\/div><\/div>\u00a010,000+ Arizona LLCs.\u00a0 In this article every prospective LLC owner must read before forming an Arizona LLC you will learn:<\/p>\n<p style=\"padding-left: 30px; text-align: justify;\"><span style=\"font-family: Arial;\">10.\u00a0 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?<\/span><\/p>\n<p style=\"padding-left: 30px;\"><span style=\"font-family: Arial;\">9.\u00a0 Meetings of members and managers &amp; minutes of meetings \u2013 yes or no?<\/span><\/p>\n<p style=\"padding-left: 30px; text-align: justify;\"><span style=\"font-family: Arial;\">8.\u00a0 The IRS&#8217;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 $$$.<\/span><\/p>\n<p style=\"padding-left: 30px;\"><span style=\"font-family: Arial;\">7.\u00a0 How a good Operating Agreement signed by all of the members can prevent litigation.<\/span><\/p>\n<p style=\"padding-left: 30px;\"><span style=\"font-family: Arial;\">6.\u00a0 The LLC\u2019s first line of defense against loss and why every LLC must have it.<\/span><\/p>\n<p style=\"padding-left: 30px;\"><span style=\"font-family: Arial;\">5.\u00a0 Does the state of formation affect liability for state income tax?<\/span><\/p>\n<p style=\"padding-left: 30px; text-align: justify;\"><span style=\"font-family: Arial;\">4.\u00a0 Why the LLC must document adding a new member, eliminating a member and changing the share of profit allocation among members.<\/span><\/p>\n<p style=\"padding-left: 30px; text-align: justify;\"><span style=\"font-family: Arial;\">3.\u00a0 Community property &amp; separate property rules &#8211; If you are married and an Arizona resident you must understand how Arizona&#8217;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?<\/span><\/p>\n<p style=\"padding-left: 30px; text-align: justify;\"><span style=\"font-family: Arial;\">2.\u00a0 What the members of an Arizona LLC must do to prevent a court from &#8220;piercing the company veil&#8221; and ordering the members to pay the LLC&#8217;s debts.<\/span><\/p>\n<p style=\"padding-left: 30px;\"><span style=\"font-family: Arial;\">1.\u00a0 <span style=\"color: #ff0000;\"><strong>WHEN YOUR LLC WILL NOT PROTECT YOU FROM LIABILITY!!!<\/strong><\/span><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\"><strong>To instantly get the 10 Critical Facts article enter your first name and email address below and click Submit.\u00a0 We do not share your information.<\/strong><\/span><\/p>\n<p><script src=\"https:\/\/keytlaw.infusionsoft.com\/app\/webTracking\/getTrackingCode?trackingId=3f023917507978e302e6b1fefb7ce939\" type=\"text\/javascript\">\/\/ <![CDATA[ \/\/ ]]><\/script><\/p>\n<form class=\"infusion-form\" accept-charset=\"UTF-8\" action=\"https:\/\/keytlaw.infusionsoft.com\/app\/form\/process\/92e735e30c6c92eaa75b6972e887784f\" method=\"POST\" name=\"LLC AZ - 10. 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Why every LLC formed by Richard Keyt has been one management type and not the other? 9.\u00a0 Meetings of members and managers &amp; minutes of meetings \u2013 yes or no? 8.\u00a0 The IRS&#8217;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.\u00a0 How a good Operating Agreement signed by all of the members can prevent litigation. 6.\u00a0 The LLC\u2019s first line of defense against loss and why every LLC must have it. 5.\u00a0 Does the state of formation affect liability for state income tax? 4.\u00a0 Why the LLC must document adding a new member, eliminating a member and changing the share of profit allocation among members. 3.\u00a0 Community property &amp; separate property rules &#8211; If you are married and an Arizona resident you must understand how Arizona&#8217;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.\u00a0 What the members of an Arizona LLC must do to prevent a court from &#8220;piercing the company veil&#8221; and ordering the members to pay the LLC&#8217;s debts. 1.\u00a0 WHEN YOUR LLC WILL NOT PROTECT YOU FROM LIABILITY!!! To instantly get the 10 Critical Facts <a href=\"https:\/\/www.keytlaw.com\/azllclaw\/10-critical-facts\/\"> [&#8230;]<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"open","ping_status":"open","template":"","meta":{"om_disable_all_campaigns":false,"footnotes":""},"class_list":["post-1135","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.7 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>10 Critical Facts Every LLC Owner Must Know<\/title>\n<meta name=\"description\" content=\"If you might create an LLC in Arizona you must read this article by Arizona LLC attorney Richard Keyt who has formed 8,000+ LLCs.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.keytlaw.com\/azllclaw\/10-critical-facts\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"10 Critical Facts Every LLC Owner Must Know (in 2022)\" \/>\n<meta property=\"og:description\" content=\"If you might create an LLC in Arizona you must read this article by Arizona LLC attorney Richard Keyt who has formed 8,000+ LLCs.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.keytlaw.com\/azllclaw\/10-critical-facts\/\" \/>\n<meta property=\"og:site_name\" content=\"Arizona LLC Law\" \/>\n<meta property=\"article:publisher\" content=\"http:\/\/www.facebook.com\/keytlaw\" \/>\n<meta property=\"article:modified_time\" content=\"2022-01-31T14:36:46+00:00\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.keytlaw.com\\\/azllclaw\\\/10-critical-facts\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.keytlaw.com\\\/azllclaw\\\/10-critical-facts\\\/\"},\"author\":{\"name\":\"Richard Keyt\",\"@id\":\"https:\\\/\\\/www.keytlaw.com\\\/azllclaw\\\/#\\\/schema\\\/person\\\/9d6c74d30296559f95e238fa25182391\"},\"headline\":\"10 Critical Facts Every LLC Owner Must Know (in 2022)\",\"datePublished\":\"2010-09-05T16:37:50+00:00\",\"dateModified\":\"2022-01-31T14:36:46+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.keytlaw.com\\\/azllclaw\\\/10-critical-facts\\\/\"},\"wordCount\":369,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.keytlaw.com\\\/azllclaw\\\/#organization\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.keytlaw.com\\\/azllclaw\\\/10-critical-facts\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.keytlaw.com\\\/azllclaw\\\/10-critical-facts\\\/\",\"url\":\"https:\\\/\\\/www.keytlaw.com\\\/azllclaw\\\/10-critical-facts\\\/\",\"name\":\"10 Critical Facts Every LLC Owner Must Know\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.keytlaw.com\\\/azllclaw\\\/#website\"},\"datePublished\":\"2010-09-05T16:37:50+00:00\",\"dateModified\":\"2022-01-31T14:36:46+00:00\",\"description\":\"If you might create an LLC in Arizona you must read this article by Arizona LLC attorney Richard Keyt who has formed 8,000+ LLCs.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.keytlaw.com\\\/azllclaw\\\/10-critical-facts\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.keytlaw.com\\\/azllclaw\\\/10-critical-facts\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.keytlaw.com\\\/azllclaw\\\/10-critical-facts\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.keytlaw.com\\\/azllclaw\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"10 Critical Facts Every LLC Owner Must Know (in 2022)\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.keytlaw.com\\\/azllclaw\\\/#website\",\"url\":\"https:\\\/\\\/www.keytlaw.com\\\/azllclaw\\\/\",\"name\":\"Arizona LLC Law\",\"description\":\"Information about Forming &amp; 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