Attorneys and Counselors at Law
|Limited Liability Companies and Corporations
Limited Liability Companies (LLC) are by far the most popular entity choice in
recent years. The flexibility and limited liability protection offered by LLCs
makes the LLC form of entity type the form of organization of choice for most
businesses. LLCs offer flexibility in tax treatment, ownership structure and
operations and, in Arizona at least, are not required to follow formal
processes for making decisions that a corporation is required to follow.
Arizona LLCs also have the added benefit of no annual filings or annual filing
fees associated with other types of entities such as corporations and limited
I have seen numerous websites and local document preparation services
(even some law offices) that advertise that they can form an LLC for anywhere
from $100 to $400 (plus fees). While the process for completing the basic
paperwork to form an LLC is pretty straight forward (see our article on How to
Form a Limited Liability Company in Arizona at right), the preliminary
decisions that must be made often require complex legal and tax analysis.
Automated websites and document preparers are not trained nor are they
authorized under Arizona law to perform the requisite analysis to make these
decisions. In addition, the only people legally authorized to draft an operating
agreement are licensed attorneys.
In these same websites and advertising materials I see statements like
"price includes a comprehensive, customized 16 page operating agreement."
We draft many operating agreements and the length of the agreement
depends on many factors, such as the nature of the business, tax treatment
desired, if the client wants the power to automatically buy-out a co-owner if
that co-owner dies and many, many other factors. When we form your LLC,
we do not give you a one-size fits all canned form, but an agreement that is
truly designed to fit your needs. If a person or company is including an
operating agreement with a specified number of pages, it likely is not worth
the paper it is printed on. You may also be pulled into a bait-and-switch
where you are quoted a low fee, but then sold all the "extras" that should have
been included in your service. Buyer beware!
If you want a licensed attorney to analyze your situation and determine the
best structure for your company and draft documents including the operating
agreement that are truly designed for your specific situation, please give us a
call. We will fax or email to you a questionnaire where we collect some
necessary preliminary information. We will then schedule a time for you to
meet or discuss via telephone your particular circumstances with an attorney
licensed to practice in Arizona.
Our basic fixed-fee for forming an Arizona limited liability company is $650,
which includes all filling fees, delivery fees and supplies (typically about
$150). The vast majority of the LLC formations we do file fall under our $650
total fixed-fee program. If for some reason your situation is so complex that
additional costs will be involved, you will be informed at the first meeting (and
before we charge you anything) of any additional costs for your particular
Please feel free to call or email us for a no-cost, no-obligation consultation.
|Would you like an
and business attorney
to form your limited
Willmott & Associates
or email us today
to schedule a no-cost,
Most LLCs are formed
for the low fixed-fee