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Corporations are legal entities distinctly separate from the incorporators offering limited liability.
With a few exceptions, when a corporation is properly formed and conducted, the owners – shareholders, directors, and officers – can be subject to limited liability.
It is extremely important that the corporation conduct its business as a separate legal entity, including, but not limited to:
Check name availability (and reserve name if available / requested)
Preparation of Articles of Incorporation (and accompanying documents)
Publication of Articles of Incorporation (with Notice to Arizona Corporation Commission when complete)
Preparation of corporate book, if requested
Preparation of annual reports and corporate minutes
(for corporations already formed)
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Having a separate bank account opened in the name of the corporation
Maintenance of corporate books - financial books and records
Regular meetings of the shareholders and directors with minutes of each meeting
Annual reports being filed with the Arizona Corporation Commission