I have a few questions. My three partners and I are the owner/directors of a Seychelles-based LTD holding company. How do we go about opening an LLC in Arizona? As a single entity, or? Also, do we need an operational agreement as a single-member LLC if its set-up as such? What are the costs for setting up and maintaining such an entity in Arizona? Furthermore, since we need a resale license (online e-commerce site selling goods), what city in Arizona should the resale license be in and how do we go about obtaining it? Lastly, if our Seychelles LTD company is the only member of the Arizona LLC, does the LTD or the new LLC appoint a director of choice? Thanks for your help in advance!
Mark
Mark,
I broke down your questions one by one and answered them to the best of my ability.
1. You can use your existing company to open the LLC in Arizona as it’s own single entity, owned by your Seychelles-based LTD.
2. Even as a single-member LLC, it is never a bad idea to have an Operating Agreement in place; especially with the LLC owned by a parent entity. It is always best to consult with your attorney regarding your needs of an Operating Agreement.
3. The costs of setting up an LLC in Arizona would vary depending on the functionality and nature of your business. For example, if you are selling products, you would need an Arizona State Sales Tax Vendor ID to collect sales tax, as well as using the state tax id for any specialty licenses/permits, such as a distributor’s license. Typically speaking, if you were not selling products but providing a service, the cost of registering an Arizona LLC would be about $109. Again, that number would vary depending on what additional services your business would require to fulfill it’s goals.
4. Aside from any specialty licensing or permits which can carry annual renewal fees, the fees associated with registering your LLC will be one-time payments. Your company will be required to file an Annual Report every year on the anniversary of your initial filing date; however there is no fee for LLC’s in Arizona to file their reports.
When you get a resale license (state sales tax id), it is good throughout the entire state, so you would not have to worry about being limited to one county. This is something we can help your business obtain, or you would get through your state’s tax department.
5. If you are using your LTD to open the new LLC than the LTD would be the managing-member of the LLC, so long as it was formed as a member-managed company. If you decided you wanted to hire outside managers to run the LLC, then you would simply register the LLC as a manager-managed company.
I hope you found this answer to be helpful.
(a) You made a typo in the card number, CCV code, expiration date, name or address;
(b) Your card balance is too low;
(c) Issuing bank has declined this transaction for some other reason related to your account.