This By-Laws document contains the following information: the name and location of the corporation, the shareholders, and the duties of the officers.
Bylaws Of The Corporation With The Irs In Pima
Category:
State:
Multi-State
County:
Pima
Control #:
US-00444
Format:
Word;
Rich Text
Instant download
Description
Free preview
Form popularity
FAQ
Corporate bylaws are a company's foundational governing document. They lay out how things should run day-to-day and the processes for making important decisions. They serve as a legal contract between the corporation and its shareholders, directors, and officers and set the protocol for how the organization operates.
In Arizona, you can convert an LLC into a nonprofit corporation by filing a Statement of Conversion. However, it's not as easy as just filing a form. You first need the approval of all LLC members, and you'll need to draft Articles of Incorporation and nonprofit bylaws as well.
You must have at least one director who will serve a term of one year. They don't need to live in Arizona and there are no membership requirements. Be aware that the IRS requires you to have at least three directors over the age of 18 when you apply for tax-exempt status.
The minimum number of board members is set by state statute. Arizona requires one board member. Nonprofits do not need to be incorporated to receive tax exempt status from the IRS, but it is usually recommended.
For most organizations, the tax year ends December 31 so the Form 990 is due May 15. Exempt organizations no longer need to file either the Arizona Form 99 or copies of their federal Form 990 annually. Arizona does not offer an overall exemption for nonprofits, but they allow exemptions for some single transactions.
Corporations taxed as S Corporations under Subchapter S of the Internal Revenue Code (IRC) must file Arizona Form 120S. Qualified subchapter S subsidiaries are not treated as entities separate from the parent corporation and would be included on a single Arizona Form 120S filed by the parent S Corporation.
How do I form an S corp in Arizona? First, you'll need to form an LLC or C corporation, if you haven't already done so. To elect S corp status, you need to file Form 2553, Election by a Small Business Corporation, with the IRS.
You do not have to convert your LLC into a corporation. Instead, the LLC simply makes an election with the IRS to have the LLC taxed as an S corporation by having all members of the LLC sign an IRS Form 2553 and then file the signed Form 2553 with the IRS.
You'll need to include the following information on your Arizona Annual Report: The name of your business. Your Arizona entity number. The type of business you own (corporation or nonprofit). A brief statement describing your business's purpose. Authorized/issued shares: include the class and series (if applicable).
How to File Articles of Incorporation for a Business Corporation Entity Type. Entity Name. Professional Services. Character of Business. Shares. Arizona Known Place of Business (KPB) Address. Directors. Statutory Agent.