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Lotzar Law Firm P.C.

Legal talent that pays for itself.
480.905.0300 x103 8687 E. Via de Ventura, Suite 115 Scottsdale, Arizona 85258

What is a Disregarded Entity?

December 23, 2014 by Charles Lotzar

Businesses are taxed in different ways depending upon the type of entity that has been formed. In Sole Proprietorships, for example, the single owner of the organization will report profits and losses on his personal income tax return.  Corporations are taxed differently, with the business having its own legal identity.  It is essential for every organization to understand the different type implications of choosing a business entity so that they can make the right choices when starting or growing their business.

form 1040

One classification that the IRS gives to some businesses is a Disregarded Entity. A Disregarded Entity is a business that has a separate and distinct legal identity for purposes of liability but that is considered to be the same as the owner for purposes of income taxation. An experienced Scottsdale Arizona business lawyer at Lotzar Law Firm, P.C. can help you to determine if your organization can classify as a Disregarded Entity and can explain the financial implications of different business forms.  Call today to schedule a consultation and learn more.

What is a Disregarded Entity?

A Disregarded Entity has two very specific characteristics:

  • The business must be a separate entity for purposes of liability. This means that the owner is not personally responsible for company debts and does not become responsible for losses if the business is sued.
  • The business profits and losses must pass through to the owner’s tax return. The income from the company typically must be declared on the Schedule C. Schedule C is used to report the net profit of a single member Limited Liability Company (LLC) that has not elected to be treated as a corporation. A Schedule C is also used to report the net profit of a Sole Proprietorship.

A Single Member Limited Liability Company provides protection from liability and it also allows for the businesses net profits to be reported on a Schedule C and included on the individual owner’s 1040 Form. A Single Member LLC can thus be treated as a Disregarded Entity unless the owner filed Form 8832 alerting the Internal Revenue Service that it wishes to be considered a Corporation for tax purposes.

A Sole Proprietorship is not a Disregarded Entity, although the money that the business makes is reported on a Schedule C and the individual owner is taxed on it. The reason a Sole Proprietorship is not considered a Disregarded Entity is because this type of organizational form does not provide protection from liability for its owners.

Other types of businesses like a Partnership, a C-Corporation and a S-Corporation are not Disregarded Entities.

Determining how your business will be treated by the IRS can be a very complex process. You need to think about the tax implications of organizing your company as a particular type of business entity and you must know all of your IRS obligations once your company has gotten started.

A Scottsdale Arizona business law attorney at Lotzar Law Firm, P.C. will assist with the initial startup of your organization and will provide important information about what your tax obligations are to the IRS over the course of operating your business. Call today to schedule a consultation and learn more.

How Many Corporate Officers Must a Corporation Have?

December 18, 2014 by Charles Lotzar

Corporations are a very common type of business entity because there are many advantages to the corporate form. A Corporation can be treated as separate from its owner and the Corporation has its own legal rights and obligations. Owners of Corporations can benefit from liability protection and may have more flexibility when it comes to taxation of the business and income.

corporate officer

Because of the many benefits associated with incorporating, a Corporation is the right type of entity for many different businesses. This is true even when a business has just one owner and one person in a position of authority. However, while a Corporation can have only one owner and still be considered a valid business entity, it is essential that you have all of the customarily required corporate officers. An experienced Scottsdale Arizona corporate lawyer can provide assistance with getting your organization incorporated and with maintaining the corporate form.

How Many Corporate Officers Are Required?

Within a Corporation, there generally must be a President; a Treasurer or Chief Financial Officer; and a Secretary. There may be additional officers as well who play a leadership role in the business.  The job of the President is, of course, to run the organization and make decisions. The Chief Financial Officer or Treasurer will handle the money and accounting aspects of the corporation and the Secretary will be responsible for recording important information like the minutes of meetings.

When a business incorporates, it must actually operate as a Corporation in order to be considered a separate legal entity and to give the owner’s protection from liability. You cannot just file the incorporation papers and then run your business as normal. You must maintain corporate formalities and part of that means that you have the standard corporate officers that any other business will have. As a result, you typically will need to have at least the three basic officers.

However, a Corporation can have only one owner and can have only one person in the leadership role. That owner or individual can simply fill all of the different corporate officers positions.  For example, if a business man decides he wants to start a company and he will be the sole owner in total control, then the company still needs multiple corporate officers. The business man can name himself as the President, the Treasurer and the Secretary.  He will fill all the roles, but all of the roles will still exist.

If a Corporation fails to maintain corporate formalities, including having corporate officers that are elected each year, questions can be raised about whether it was legitimately operating as a corporation. This could lead to the organization losing tax benefits and it could also lead to the piercing of the Corporate Veil, making owners personally liable for losses.

An experienced Scottsdale Arizona lawyer can help you to understand the rules for corporate officers as well as all other requirements that are associated with incorporating a business. Call today to schedule a consultation with Lotzar Law Firm and learn more about how a lawyer can help with your organization.

Is It Possible to Have a Limited Liability Company (LLC) With Only One Member?

December 16, 2014 by Charles Lotzar

A Limited Liability Company (LLC) is a type of business organization.  An LLC can provide important protection from liability as compared with other types of business organizations such as a Sole Proprietorship or a Partnership.

LLC taxes

LLCs are created by filing appropriate paperwork within the state where the organization will operate. It is important to understand the rules and requirements for the creation of a Limited Liability Company to ensure that you and your organization get the benefits and the protections that this business form provides. The rules permit you to have a Limited Liability Company with only one member but the tax treatment of this type of organization may differ from certain other LLCs. An experienced Scottsdale Arizona business lawyer at Lotzar Law Firm, P.C. can provide you with assistance with the creation of a Limited Liability Company and can help you to determine what type of business entity is appropriate in your situation.

Starting a Limited Liability Company with Only One Member

A Limited Liability Company is a type of business organization that has been created by statutes at the state level. When an LLC is started, the owner(s) must understand how the business will be treated by the Internal Revenue Service in addition to following all state rules. The owners generally can elect to have their LLC treated as a Partnership, as a Corporation, or as a “Disregarded Entity.”

When an LLC has two or more members, it will automatically be classified by the Internal Revenue Service as a Partnership unless a specific form, Form 8832, is filed with the Internal Revenue Service. Form 8832 alerts the IRS that the LLC should be treated as a Corporation.

If an LLC has just one member, it is automatically treated by the IRS as a “Disregarded Entity.” Unless you elect otherwise, the Limited Liability Company with only one member will thus be treated as a separate legal entity from its owner for some excise taxes and for some employment taxes. However, it will be considered a Disregarded Entity when it comes to income taxes.

Like a Multiple-Party LLC, a Limited Liability Company with only one member can file Form 8832 to be treated as a Corporation. The LLC must affirmatively select this option with the IRS. If Form 8832 is not filed, this means that as a Disregarded Entity the LLC’s activities must be reflected on the tax return of the organization’s owner. The owner of the LLC will need to declare income from the organization on a 1040 Schedule C, E, or F depending upon the type of income earned.

Essentially, the IRS rules treat a Single Member LLC just like a Sole Proprietorship for tax purposes, unless the organization affirmatively files paperwork asking the IRS to treat it as a Corporation. The LLC that is classified as a Disregarded Entity will need to use the Social Security Number or Employer Identification Number that belongs to the single member owner for all purposes related to income tax and information returns.

An experienced Scottsdale Arizona attorney at Lotzar Law Firm, P.C. can help determine if you should form a single member LLC and whether your organization should elect to be classified as a Corporation or not. Call today to schedule a consultation and learn more.

What is a Private Inurement?

December 4, 2014 by Charles Lotzar

Nonprofit or charitable organizations have Tax-Exempt Status because the organizations serve a public good or provide a benefit to society. These organizations are also allowed to solicit donations from people with the promise that the money will be used to do something that will provide some type of benefits to society.

money hands

Unfortunately, in some cases, the money that a nonprofit obtains is not used properly in accordance with the purpose of the organization. If money donated or given to the nonprofit is used to enrich insiders with a leadership or employment role in the foundation, this is referred to as a Private Inurement. There are penalties associated with a Private Inurement and it is important for those who operate a nonprofit to speak with an experienced attorney to make sure they are not breaking the rules regarding what they can do with the organization’s money.

What is a Private Inurement?

 

When a Nonprofit applies for Tax-Exempt Status, it must state a purpose other than making money. There are certain types of organizations that the Internal Revenue Service (IRS) will give nonprofit status to, such as religious organizations, organizations to further the arts or education, and charitable organizations. In every case, the IRS will allow Tax-Exempt Status only if the nonprofit plans to use the money it obtains to serve some type of broader purpose that is good for the public.

All money the Nonprofit takes in must actually be used to fulfill the purpose that was specified when the organization was started. No money, or assets, can be used to provide a private benefit to anyone involved with the Nonprofit. This includes the founders of the foundation; those who contributed money to it; and those who work for it.

For example, if the founder or manager of a Nonprofit uses money that was donated to the organization to buy a car for himself or to pay his mortgage, this would be an example of Private Inurement. If a contributor or a donor to a nonprofit made a $10,000 donation but then the nonprofit bought him a $10,000 car, this would also be an example of a Private Inurement. Even those who donate to a charity or nonprofit cannot use the money they have gifted to the organization for their own personal purposes, as the money is Tax-Exempt and it is supposed to be used for the nonprofit’s goals.

When Private Inurement occurs, the consequences will vary depending upon the situation. In many cases, the IRS will simply impose monetary sanctions or penalties. In other situations, however, the IRS May revoke the Tax-Exempt Status of the Nonprofit. Revocation is a much more serious consequence and it is not as common. News of the Private Inurement can also affect donations, causing people to no longer trust the nonprofit and to be reluctant to donate as a result.

It is important to ensure that Private Inurement does not occur if you are running a nonprofit. Speak with an experienced nonprofit lawyer at Lotzar Law Firm, P.C. for help understanding the rules for nonprofits and ensuring that expenses are legitimate in accordance with the law.

Who Can Solicit Donations in Arizona?

December 2, 2014 by Charles Lotzar

If you wish to operate a Charitable or a Nonprofit Organization, it is important to understand the rules and requirements that will apply to fundraising. Most nonprofits survive on a combination of grants and donations, with the exception of organizations that are supported by Private Foundations. This means that nonprofits need to be able to reach out to donors and ask for financial contributions.

donations

The rules differ from state-to-state regarding what a charitable organization must do in order to fundraise. If you wish to operate your charity in Arizona or to try to raise money from people within the area, you should speak with an experienced attorney about the requirements to Solicit Donations in Arizona. Lotzar Law Firm, P.C. has helped many clients to successfully start charitable organizations and to ensure they remain in compliance with all state rules for operating. Call today to schedule a consultation and learn more.

Arizona used to have a law requiring charities to be registered in order to Solicit Donations. Charities had to file a registration form annually in order to be allowed to Solicit Donations in Arizona. However, the registration requirement was repealed and after 2013 charities are no longer obligated to be registered in the state of Arizona in order to raise funds. Furthermore, Arizona is also one of just four states in the country where the Attorney General does not have Common Law Authority to ensure that charities are complying with legal requirements.

Requirements to Solicit Donations in Arizona

Because of the repeal of the registration requirements, it has become far too easy for dishonest organizations to try to pass themselves off as charities and raise money in Arizona. Wary consumers who are concerned about where money is going may ask for other information from your charitable organization before making a contribution in order to ensure your non profit is legitimate. It is important to be prepared with documentation demonstrating that you are a legitimate charity in order to have success at raising funds.

One of the essential things that you will need to do is to secure Tax-Exempt Status from the Internal Revenue Service. Most organizations do this under the provisions set in 501(c)(3) of the tax code and are thus called 501(c)(3) Organizations. Donors will need to know your status as a Tax-Exempt Organization before making contributions so they are able to take a deduction for the money that they give to your organization. If you cannot provide proof of Tax-Exempt Status, it will be very difficult to successfully Solicit Donations in Arizona.

You may also wish to use a Unified Registration Statement, which is accepted in Arizona as well as in other locations throughout the country. This provides your organization with an opportunity to register to Solicit Donations in participating states.

An experienced Scottsdale Arizona non profit lawyer knows the ins-and-outs of starting a charity and complying with the laws regarding who may Solicit Donations in Arizona. An attorney can advise you on the specifics of what you need to do if you want to start raising funds, so be sure to talk to a lawyer about your legal obligations.

Operating a Nonprofit in Multiple States

November 25, 2014 by Charles Lotzar

If you run a Nonprofit or Charitable Organization, you may wish to solicit funds from people throughout the country who are interested in the work that you do. You may also want to expand the services that you provide to help people outside of your immediate geographic location. multiple states

Operating a Nonprofit in multiple states is possible, but there are many legal steps that must be taken in order to successfully work across state lines while remaining in compliance with the law. An experienced Scottsdale Arizona nonprofit lawyer can help you to understand your options and ensure you are in compliance with the law so you do not accidentally do anything that will jeopardize the good works your organization is trying to do.

Following the Rules for Operating a Nonprofit in Multiple States

 

When Soliciting Donations from people from out-of-state in order to raise funds for your non profit, you must ensure you comply with the rules and requirements from the states where the money will be coming from. This is true even if you send donation requests via email or via mail, rather than having a physical location in the location where you are soliciting funds.

The laws, unfortunately, differ from state-to-state. This means you will need to find out the specific requirements for raising money in every state where you wish to tap into a potential donor base. In states like California and Illinois, for example, there may be criminal penalties for a failure to register your Charity before Soliciting Donations.

The Internal Revenue Service, which operates on the federal level, also wants to ensure that your Charity is not breaking the rules for any of the individual states that you are soliciting funds from. Form 990 must be filed by nonprofits that raise $25,000 or more. This form asks questions about compliance with state registration laws and it has to be signed by an officer of the organization under penalty of perjury.

Of course, your organization may want to do more than just solicit funds. If you wish to actually provide services in a different state, then you will also need to check the laws applicable to beginning your type of operation. Many states have very specific rules about the type of charity work that can be performed. For example, there may be municipal ordinances or statewide laws limiting where homeless people can be fed. You need to know the local rules to avoid criminal and civil penalties.

This does not mean that operating a non profit in multiple states is impossible. In fact, non profit organizations that work in different geographic areas can open up different chapters that share a name, trademark and mission. When this occurs, the groups of charity chapters in different states are usually called “Federated Organizations.”

Federated Nonprofit Organizations can be structured as a Single Corporation operating in multiple locations; as Separate Subsidiary Corporations; or as separate corporations with affiliation agreements. There are advantages and disadvantages to each approach and you should ensure you speak with a Scottsdale Arizona nonprofit lawyer at Lotzar Law Firm, P.C. for help before you decide how best to begin your operations in a new location.

What is Private Benefit?

November 20, 2014 by Charles Lotzar

Some organizations are founded for the purpose of serving the public good, rather than making money for owners. These organizations may operate as Tax-Exempt and avoid paying income taxes on the money they earn or obtain as long as that money is used to fulfill the organization’s purpose. An organization must apply to the Internal Revenue Service to be classified as a Nonprofit and obtain Tax-Exempt Status. Different sections of the Internal Revenue Code (IRC) allow different types of organizations to be classified as Exempt Nonprofits. Most charitable and religious organizations, as well as organizations intended to promote science or literacy or protect kids and animals – obtain their Tax-Exempt Status under section 501(c)(3) of the Internal Revenue Code.

money 2

Section 501(c)(3) of the Internal Revenue Code allows for an organization to be a Tax-Exempt Nonprofit only if it is organized exclusively for an exempt purpose. This section of the IRS Code doesn’t specifically use the term “Private Benefit.” However, an organization is not organized exclusively for an exempt purpose if it concerns Private Benefits that are more than just incidental to furthering its charitable goals.

In other words, if an individual benefits from an organization rather than society or the public, then this can jeopardize the organizations’s Tax-Exempt Status. The distinction between a public good and a Private Benefit can be difficult to make, and an experienced Scottsdale Arizona nonprofit lawyer should be consulted for help understanding the meaning of Private Benefit and how it applies to your organization.

Defining a Private Benefit

Drawing a distinction between an organization intended to provide a Private Benefit and one intended to serve an exempt purpose can be difficult. After all, individuals are members of the public. A soup kitchen, for example, feeds individuals. However, while a soup kitchen is created to benefit the individuals who are being fed, this does not necessarily mean that the soup kitchen is conferring a Private Benefit and should lose its Tax-Exempt Status. If the soup kitchen was set up to provide food only to a small select group of people, however, this could mean that it was conferring Private Benefits that are not permissible if the organization wants to maintain Tax-Exempt Status. This is true even if the small select group of people are among the hungry who are part of a larger charitable class.

To draw a distinction between a Private Benefit that is impermissible and a charitable purpose, it is essential to assess whether the benefit is qualitatively and quantitatively incidental. The Private Benefit, for example, will need to be a by product of the benefit to the public (qualitatively incidental) and will need to be insubstantial (quantitatively incidental) in order for the organization to be considered Tax-Exempt under 501(c)(3) provisions. To determine if the organization is benefitting the public or a private individual, the IRS will consider:

  • The size of the group of people who will benefit.
  • Whether the organization is entering into transactions on unreasonable or unfavorable terms.
  • Whether the organization engages in a substantial amount of activities that are not directly related to fulfilling a charitable purpose.
  • Whether private parties are receiving more benefits than would be necessary for the charity of fulfill its exempt purposes.
  • Whether the 501(c)(3) organization establishes exclusive business dealings with a for-profit enterprise or fails to compare prices or consider alternative sources of services or goods.

It is very important to avoid conferring Private Benefits if your organization is Tax-Exempt under 501(c)(3). Call a Scottsdale Arizona nonprofit lawyer at Lotzar Law Firm, P.C. for help to ensure you are able to avoid mistakes that could jeopardize your nonprofit status.

What Is a Public Charity?

November 18, 2014 by Charles Lotzar

Organizations that are created for reasons other than to earn money for owners are classified as Nonprofit Organizations. Nonprofit Organizations may apply for and be granted Tax-Exempt Status by the Internal Revenue Service. The Internal Revenue Code (IRC) establishes different criteria under which an organization may be classified as non profit and achieve Tax-Exempt Status. Many organizations created to act as nonprofits apply for and receive Tax-Exempt Status under provisions set forth in IRC section 501(c)(3). These nonprofits are also called 501(c)(3) organizations. public charitySection 501(c)(3) organizations can be divided into two separate classes: Private Foundations and Public Charities.

Under the rules set by the IRS in the relevant code sections, a Public Charity is defined as an organization that is created, organized and operated exclusively for exempt purposes and that is not an action organization intended to influence the political process. Being classified as a Public Charity has significant benefits to your organization and you should contact an experienced Scottsdale Arizona nonprofit lawyer at Lotzar Law Firm, P.C. for help in determining if you qualify. Our experienced attorneys can help you to complete all required IRS forms and documentation so you will be able to obtain the classification if your organization is eligible.

What is a Public Charity?

Section 501(c)(3) grants Tax-Exempt Status to organizations created for charitable; religious; educational; literary or scientific purposes. Organizations that are created to test for public safety; foster amateur sports competitions; or prevent cruelty to children and animals may also obtain Tax-Exempt Status under section 501(c)(3) of the IRC.

All domestic and foreign organizations that receive Tax-Exempt Status under section 501(c)(3) are considered to be private foundations except for a limited number of organizations that are referred to in 1-4 of IRC section 509(a). In other words, a Public Charity is a Nonprofit Organization created for an approved purpose under 501(c)(3) that falls into a special category found in section 509(a). Some of the different organizations that may be considered public charities include:

  • Churches
  • Hospitals
  • Medical research organizations affiliated with hospitals that meet specific criteria
  • Educational institutions, including colleges, universities and other schools
  • Organizations that receive income from conducting activities that are designed to further the exempt goals of the organization
  • Organizations that function to support one or more existing Public Charities

Public Charities are distinct from Private Foundations because Public Charities often do take in money or raise funds from various sources. For example, hospitals may charge insurance companies for the provided services. The organization can still be a non profit because it puts this money back into serving a charitable purpose, rather than giving the money to owners.

By contrast, Private Foundations are distinct from Public Charities because Private Foundations typically have one single source, such as a family or corporation, that provides the bulk of funding.

Lotzar Law Firm, P.C. can help you to determine if your organization should classify as a Public Charity and can help you to complete all required IRS paperwork to obtain your exempt status. Call today to schedule a consultation with a Scottsdale Arizona non profit lawyer to learn more.

What Does it Mean to Respect Corporate Formalities?

November 11, 2014 by Charles Lotzar

Many businesses are organized as Corporations in order to protect the owners’ financial situations. An owner of a Corporation is not personally liable if the Corporation gets into debt or is sued. An owner’s losses are limited to the amount invested, unlike with other business types such as a Partnership or a Sole Proprietorship where the business owner’s personal assets could be lost if the company is sued or goes bankrupt with money owed to creditors.

corporate formalities

Owners are protected from personal responsibility for corporate losses because the Corporation is a separate legal entity. However, to maintain the corporation’s identity as distinct from its owners, it is essential to respect corporate formalities. An experienced Scottsdale Arizona business law attorney can help you to understand what is involved in respecting corporate formalities so you do not take any chances on losing the protections that incorporating provides. Call Lotzar Law Firm, P.C. today to speak with an experienced attorney who can help you.

How to Respect Corporate Formalities

Corporate Formalities simply refers to steps that you need to take to help ensure that your organization actually operates as a separate legal entity. The need to respect Corporate Formalities is most important when you are a sole owner of a corporation or when an organization is closely held by a few shareholders. When a large publicly-held corporation exists, it is generally clear that the company is independent from its owners. However, if you have a smaller business, it is easy to become lax in maintaining Corporate Formalities and to stop treating the business as the separate enterprise that it should be. This can have serious consequences and it is important that you don’t let yourself fall into this pattern.  The more you can do to respect Corporate Formalities and maintain the Corporation as separate from yourself, the more protection you will have if a legal issue should arise.

Some of the different things that you need to do in order to ensure that you respect Corporate Formalities may include:

  • Holding meetings at least annually and keeping minutes. You should hold an annual shareholders meeting in order to elect the members of the Board of Directors for the Corporation. Your company Bylaws should specify the date, time and other details for the Annual Meeting. In addition, you should also hold Special Meetings when decisions need to be made or issues arise.
  • Keeping financial records and records of corporate activity.
  • Acting as a Fiduciary to the Corporation. This means you should always act in the best interests of the business and not use any corporate opportunities or assets for your personal benefit.
  • Establishing and following Articles of Incorporation and Company Bylaws. These documents should set out the rules for how your business will run and should be followed carefully.

You should ensure that you do not co-mingle funds or use your corporate accounts as a personal account, as this can result in questions about whether you are actually maintaining Corporate Formalities and treating the company as a separate business.

Lotzar Law Firm, P.C. can help you with these and other steps to respect Corporate Formalities. Call today to schedule a consultation with our Scottsdale Arizona business lawyers to learn more.

How to Terminate a Business Entity

November 6, 2014 by Charles Lotzar

When you are operating a business, there may come a time when you wish to close up shop. The process for doing this can vary depending upon how your business is organized. In some situations, you can simply cease the operation of your business. In other cases, however, the process is much more complicated.

out of business

An experienced Scottsdale Arizona business lawyer at Lotzar Law Firm, P.C. can help you to understand how to terminate a Business Entity and can guide you through the process of dissolving your organization. Call today to schedule a consultation and learn more about how our lawyers will help you.

If you are operating your business as a Sole Proprietorship, you can simply discontinue the work you were performing or the services that you were providing and your business entity will effectively be terminated. If you owe debts to any outstanding creditors, you’ll need to pay those debts back or the creditors can come after you personally. You will also need to pay any final wages to employees in order to avoid wage and hour violations.

How to Terminate a Business Entity

If you are operating your business as a Partnership, you must go through a formal process of dissolving the organization. The Partnership may be dissolved upon the death of a partner, unless those who are left expressly agree to continue the partnership. The Partnership can also terminate upon agreement of those involved. The Partnership will continue for tax purposes until one of two things happen: either no part of the business or financial operations is carried out by their partner or there are sales or exchanges of at least 50 percent of the interest in profits and capital over a 12-month period of time.

When a Partnership terminates, a winding up process must occur. This may involve one or more of the partners buying the interests of the other partners, in which case the enterprise becomes a Sole Proprietorship and continues operating. During the winding up process, the Partnership typically needs to be liquidated, property needs to be applied to repay partnership debt, and an accounting of the financial situation of the enterprise must be made. Each partner has an equal right to property and assets, and the winding up process will involve distributing remaining funds and property. An attorney should generally assist with this process.

Finally, winding up a corporation is even more complex than the process of winding up a partnership. Dissolution forms must be filed with the state, all outstanding taxes and debts must be paid, and you will need to notify creditors of their right to make claims. Owners must agree to close the business and all permits, licenses and fictitious business names must be cancelled. Customers should be notified, and property and assets of the corporation that are left after debts are paid will need to be divided among the owners.

Lotzar Law Firm, P.C. has experience helping clients to close all types of business organizations. If you wish to terminate a business entity, call today to schedule a consultation with an experienced Scottsdale Arizona business lawyer who can help you.

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