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contact usArizona is a state in the Southwestern region of the United States. Its capital and largest city is Phoenix. Arizona shares the Four Corners region with Utah, Colorado, and New Mexico; its other neighboring states are Nevada and California to the West and the Mexican states of Sonora and Baja California to the South and Southwest.
The total area of Arizona is 113,998 square miles (295,000 km2). It is the sixth largest state by area, ranked after New Mexico and before Nevada, approximately 15% of the area is privately owned.
In 2019, the estimated population of Arizona was about 7.3 million people.
As of 2019, over 70% of Arizona residents of age five and older spoke English at home, while over 20% spoke Spanish. Other languages used in Arizona such as Chinese, German, French, Vietnamese, etc. In total, more than a quarter of Arizona residents spoke a mother language other than English.
The government of Arizona is the governmental structure of the state of Arizona as established by the Arizona Constitution, and divided into 3 branches: Legislative, Executive and Judicial.
In 2019, the GDP of Arizona amounted to 321.43 billion U.S. dollars, the state's per capita income is $44,161.
The composition of the state's economy is moderately diverse such as computer, mathematical, architecture, engineering, healthcare, education, government, etc. Early in its history, Arizona's economy relied on the "five C's": copper, cotton, cattle, citrus, and climate. Today, copper is still extensively mined in Arizona and accounting for two-thirds of the nation's output.
Currency:
United States Dollar (USD)
The business laws of Arizona are user-friendly and often adopted by other states as a standard for testing business laws. As a result, the business laws of Arizona are familiar to many lawyers both in the US and internationally. Arizona has a common law system.
One IBC supply incorporation in Arizona service with the common type Limited Liability Company (LLC) and C-Corp or S-Corp.
The use of the bank, trust, insurance, or reinsurance within the name of the LLC is generally prohibited as limited liability companies in most states are not allowed to engage in a banking or insurance business.
The name of each limited liability company as set forth in its certificate of formation: Shall contain the words "Limited Liability Company" or the abbreviation "L.L.C." or the designation "LLC";
No public register of company officers.
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How to start a business in Arizona, USA
Share Capital:
There is no minimum or a maximum number of authorized shares since Arizona incorporation fees are not based on the share structure.
Director:
Only one director required
Shareholder:
Minimum number of shareholders is one
Arizona company taxation:
Companies of primary interest to offshore investors are the corporation and the limited liability company (LLC). LLCs are a hybrid of a corporation and a partnership: they share the legal features of a corporation but may choose to be taxed as a corporation, partnership, or trust.
Local Agent:
Arizona law requires that every business have Registered Agent in the State of Arizona who may be either an individual resident or business that is authorised to do business in the State of Arizona
Double Taxation Agreements:
Arizona, as the state-level jurisdiction within the US, has no tax treaties with non-US jurisdictions or double tax treaties with other states in the US. Rather, in the case of individual taxpayers, double taxation is minimised by providing credits against Arizona taxation for taxes paid in other states.
In the case of corporate taxpayers, double taxation is minimised through allocation and appointment rules related to the income of corporations engaged in multi-state business.
The Arizona Franchise Tax Board requires all new LLC companies, S-corporations, C-corporations that is incorporated, registered or doing business in Arizona must pay the $800 minimum franchise tax
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All LLC companies, corporations are required to update their records, either annually or biannually, based on the year of registration and pay yearly $800 minimum franchise tax.
A Statement of Information must be filed with the Arizona Secretary of State within 90 days after filing the Articles of Incorporation and each year thereafter during the applicable filing period. The applicable filing period is the calendar month in which the Articles of Incorporation were filed and the immediately preceding five calendar months
Most corporations must pay a minimum tax of $800 to the Arizona Franchise Tax Board each year. Arizona Corporation Franchise or Income Tax Return is due on the 15th day of the 4th month after the close of the corporation’s tax year. Arizona S Corporation Franchise or Income Tax Return is due on the 15th day of the 3rd month after the close of the corporation’s tax year.
Limited liability companies must file a complete Statement of Information within the first 90 days of registering with the SOS, and every 2 years thereafter before the end of the calendar month of the original registration date.
Once your limited liability company is registered with the SOS it is an active business. You are required to pay the minimum annual tax of $800 and file a tax return with FTB for each taxable year even if you are not conducting business or have no income. You have until the 15th day of the 4th month from the date you file with the SOS to pay your first-year annual tax.
