A very important part of my LLC formation service is my book called the “Arizona LLC Operations Manual.” I wrote this 170+ book as a guide for members and managers of Arizona LLCs. The book explains how to operate your LLC and comply with Arizona LLC law. Purchasers of our Silver and Gold LLC packages should have received an email message with login information, a username and a password to access the online ebook version of the Operations Manual. If you did not get that email message send a message to me at [email protected] and ask me to email the login information to you.
Note for Purchasers of Our Bronze LLC Package
The Bronze LLC package does not include the Operations Manual. If you purchased a Bronze LLC package and want access to the LLC Operations Manual you can purchase a one year subscription for $97.
The primary reason people form an LLC is to protect themselves from debts and liabilities that arise from operating a business or owning investment real estate. An Arizona court will not give the owners of an LLC this important liability protection if the LLC fails to comply with Arizona LLC law. The OM tells you how to comply with Arizona LLC law.
I urge you to take time and read the OM. The table of contents will help you find topics of interest. One part of the OM that you should immediately review is Chapter 3, which has a “Sequence of Events & Tasks to Accomplish in the First Seventy-Five Days.” Chapter 3 is a checklist of 31 important LLC tasks that should be accomplished in the first 75 days after the formation of your new LLC.
Here are some of the important tasks your LLC should do asap:
1. Get insurance in name of the company in amounts and types appropriate for the company’s activities and for the assets owned by the company. See your business insurance agent for advice on the types of insurance and the amounts of coverage the LLC needs. You may want to shop insurance with several insurance agents and companies.
2. Get all members to sign the Operating Agreement.
3. Get all members to sign the organizational resolutions.
4. Get a manager to sign the membership certificate for each member.
5. Review the LLC’s records on the Arizona Corporation Commission’s website for accuracy. If any of the ACC’s information is incorrect, tell us and we will notify the ACC and correct it.
6. Get an employer identification number for the LLC if your LLC did not hire me to get the EIN.
7. Open a bank account in the name of the LLC.
8. Buy QuickBooks and set up the LLC’s bookkeeping software.
9. Consult with a CPA to determine which of the four possible LLC tax methods is best for your LLC and its members.