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WHAT IS A CORPORATION?
A legal entity chartered by a state or the federal government and is separate and distinct from the persons who own it. A corporation is considered an artificial person--it may own property, incur debts, sue or be sued. Some distinguishing features of corporations are: * Ownership is held by stockholders who have limited liability--that is, they can only lose what they invest. * Transfer of ownership is accomplished through the sale of stock shares. * Perpetual existence (unless ended through bankruptcy, a merger, tender or takeover).
HOW DO I APPLY FOR A FEDERAL TAX ID NUMBER?
Contact us if you want to apply for a federal Tax ID number. We can get you an EIN (Employer Identification Number) for a small fee.
WHEN SHOULD I OPEN MY BANK ACCOUNT?
There is no requirement that you have to open a company bank account in Nevada or in your home state.  Most of our clients open a bank account in their home state so that it is convenient to make deposits.
WHEN DO I HOLD MY FIRST MEETING?
There are no deadlines, but it make sense to hold your organizational meeting as quickly as possible after formation of your new company. This is where you will be electing directors or managing shareholders and officers, filling out corporate resolutions, issuing stock, and signing loan/lease agreements/contracts, etc. For corporate training, call, fax or email AZBusiness Corp.
IS A LOCAL BUSINESS LICENSE REQUIRED?
You will need to contact your state, county or local licensing agency in your home state or you can check with the Small Business Administration. Their website provides links for information in each State about where to obtain a business license. http://www.sba.gov/hotlist/license.html. Call, fax or email us at azbusinesscorp.com.
WHAT IS THE IMPORTANCE OF CORPORATE FORMALITIES?
Creditors are always trying to pierce the corporate veil that is created when you form a corporation or LLC. Never run your corporation or LLCs as if it is still a sole proprietorship. Nowadays LLCs have fewer formalities than corporations, but an owner still must make sure that he or she is conducting business separate and apart from him or herself as an individual. Never mingle your personal assets with your business assets. This will only show that that your corporation is nothing more than an extension of yourself, and creditors may try to exploit that.
HOW IMPORTANT IS CORPORATE CREDIT?
Never personally guarantee anything if you can!"

We can provide your business the next profitable step in separating your personal credit from your business credit. Separating your personal credit from your business credit offers the following benefits:

By building Corporate Credit it is possible to obtain:

  • Real Estate
  • Auto Leases
  • Retail business credit cards
  • Lines of credit with various companies
  • Equipment Leases

CORPORATE CREDIT
Establishing the business's credit should be started before the company needs it. No lending institution wants to lend money to a business in need of cash flow. The business should start to establish it's own credit history and credit profile in order to take on business credit of it's own. This is possible with a Corporation using the corporation tax identification number.

When officers and owners use their own personal credit profiles to obtain credit for the business, they risk the chance of personal liability. There are two reasons business owners should try not to use their personal guarantee on business credit. First, the individual signer is liable if the business cannot make the payments and second the credit obtained for the business can result in seizure of personal assets.

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