Incorporation in Arizona
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Arizona law allows a business to incorporate and be identified as its own legal entity. As a separate entity from the owners, the business is then considered to be acting on its own when it buys and sells property, assents to contracts and exercises legal rights. A business looking to incorporate in Arizona must file with the Secretary of State in accordance with established guidelines.
Benefits of Incorporation in Arizona
A corporation enjoys advantages that unincorporated companies do not. Primarily, it cannot be held accountable for an amount of debt greater than the value of the assets that the owners have invested in it. Had the business remained unincorporated, owners risk losing their personal property should the business become unable to pay its liabilities. Furthermore, banks in the Glendale area prefer to evaluate the credit worthiness of a business as a whole rather than that of individual owners. This makes the process of getting corporate loans simpler. Finally, a corporations charter requires that ownership be divided into stakes or "shares" of stock, all of equal size. This makes the process of transferring control much more practical.
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Life in Glendale
Glendale, Arizona is a beautiful residential community located west of Phoenix, Arizona. For those who think there is nothing to do in residential communities, Glendale proves them wrong! Glendale has a variety of sites for tourists to visit, and plenty of things for people to do.
Glendale is home to many attractions that exploit the beauty of nature. For instance, Historic Sahuaro Ranch is a 17 acre property with seventeen ranch buildings to tour, along with a beautiful rose garden. Popular events such as the Antique Tractor and Engine show are held in this venue.
For all the sports fanatics out there, Camelback Ranch is located in Glendale. This ranch is known because the Los Angeles Dodgers and Chicago White Sox share this venue for spring training during baseball season.
To accommodate the needs of those who love the outdoors, Glendale has a very popular attraction known as White Tank Mountain Regional Park. White Tank Mountain Regional Park has approximately 21 miles of hiking and biking trails, with one that even has a waterfall! For children, the park has hiking and biking trails that are of lower levels of difficulty, as well as Petroglyph Plaza for children to express their creative skills.
The Xeriscape Botanical Garden, considered one of the best demonstration gardens in Arizona, has over 1,000 types of desert plants over 4 acres. The garden also has many walking paths so that visitors can stroll and enjoy nature. Tourists can also enjoy the walking and hiking trails at Thunderbird Park. The park, located over 1,000 acres of dessert preserve, has picnic sports and horseback riding along with the trails for hiking and walking.
Other popular attractions in Glendale include Arrowhead Town Center and Westgate City Center, two great places to catch a movie, eat at delicious restaurants, or shop till you drop!
With Glendale being very near to Phoenix, Glendale residents have the opportunity to access the Phoenix legal market for their needs. Many attorneys and major law firms have offices in Phoenix, Arizona. Therefore, Glendale residents can rely on the best firms with the sharpest legal minds to handle their legal needs.
Costs of Incorporation
These benefits come at a price. First, incorporation in Arizona may require a filing fee. Second, a corporation pays taxes just like any other entity. The individual incomes of owners who are paid disbursements from the corporation's earnings are still taxed as well. This is called double taxation, but it may be avoided with proper planning and assistance from a local Glendale lawyer.
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