Company owners in Arizona always want to do more for their businesses. What they worry about is losing their properties if they fail. As business can sometimes be risky, protect your personal assets by filing a Limited Liability Company (LLC). Forming an LLC in Arizona is ideal if you’re looking for an option that is less formal, but as flexible as a corporation.
Here are some benefits of incorporating your business:
Protected assets
Give your Arizona corporation a good chance to excel through limited liability. This type of investment allows you, your business partner, and your investors to stay away from higher taxes. This can help if your company accumulates a large debt it can no longer pay.
Flexible management structure
LLC allows you to manage your corporation flexibly. You can choose to have multiple members or a sole manager to run your company. Both options have their own benefits depending on the nature of your business. Talk with your partners or co-owners to come up with a sensible decision.
Sharing of profits
A limited liability company is also flexible when it comes to profit and losses. This means you can define an investor’s percentage of liability and profits without basing it on the percentage of ownership.
Businesses come with risks, but this doesn’t mean you should take more risks than you have to. Make sensible decisions and learn how to protect yourself from the risks of business.
Resources:
http://www.sba.gov/content/limited-liability-company-llc
http://mycorporation.com/state/arizona.jsp
http://www.nolo.com/legal-encyclopedia/limited-liability-company
