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Limited liability companies (LLCs) have become the go-to business entity for entrepreneurs and business owners. The combination of limited liability protection and partnership-like relationships between the members makes the LLC entity an easy choice for many business ventures. In the whir of starting a new business, however, the members of some LLCs forego drafting and preparing an operating agreement. Although…
In today’s dynamic business climate, minimizing the potential impact of liability risks and protecting business assets are essential to maintaining a stable operation and a foundation for growth. To achieve this goal, many entrepreneurs and business owners establish subsidiary limited liability companies (LLCs), which can be a very effective strategy. This approach is effective because it minimizes the parent company’s…
Estate planning can be an uncomfortable topic to think about. The topic, after all, includes thinking about one’s own mortality and the effect it may have on loved ones. The topic also covers difficult subjects such as a significant decline in physical or mental health that affects the ability to care for oneself or make decisions. Although passing away and…
The Arizona Corporation Commission (the “ACC”) recently voted to adopt new policies intended to deter fraudulent business filings and to help protect business owners. This post briefly summarizes the ACC Corporations Division’s notice that announces the new policies. A complete copy of the notice is included below. For all in-person (over-the-counter) filings at the ACC, these policies become effective on…
If you’ve purchased tax liens from a county treasurer in Arizona, you probably understand that you’ve made an investment that may result in the transfer of real property because of unpaid property taxes. Although investing in tax liens can be risky and speculative, and the process can take years, successfully foreclosing on a tax lien transfers the taxpayer’s real property…
In Arizona’s dynamic business environment, employers face numerous challenges. One common challenge for employers is accurate classification of their workforce, and misclassifying employees can lead to significant legal and financial repercussions. According to a study by the Economic Policy Institute, the misclassification of workers costs U.S. taxpayers approximately $2.7 billion annually. This blog post delves into the key elements of…