LLC or CORPORATION
Which one should you choose?
You will need to decide whether an Arizona limited liability company (LLC) or a corporation (S-Corporation or C-Corporation) is best for you. You should make this decision after receiving opinions and/or advice from your attorney and/or financial adviser.
Here are three pieces of information that you may want to consider when making your decision:
- An Arizona corporation must file an “Annual Report” (which includes financial information about the corporation, along with the names and addresses of all officers and directors),
- An Arizona corporation must pay an annual fee to the Arizona Corporation Commission (ACC), and
An Arizona LLC, on the other hand, does not have to file an annual report and does not have to pay an annual fee to the ACC.
- An Arizona corporation will be automatically dissolved if the annual fee is not paid or the annual report is not filed on time.