Entity Formation

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Keeping Corporate Records

Time and time again we are asked to re-create the corporate records of an entity. The fire drill is ignited by the need for financing, a large asset transaction, an IRS audit, an impending sale of the business or litigation. Business owners lose their mind that these seeming inconsequential items are holding up the transaction [...]

By |2020-10-28T14:00:41-07:00October 15th, 2020|Past Newsletters, Entity Formation, Business Services, Homepage|Comments Off on Keeping Corporate Records

August 2020 Corporate Records

Quinn was called as witness in litigation between two owners of a closely held entity. Quinn had previously represented a party to the litigation with the review and analysis of the corporate records and identified several irregularities with the records. Unfortunately, the parties could not resolve the issues and the dispute ended up in litigation. [...]

By |2020-10-27T20:44:51-07:00September 15th, 2020|Entity Formation, Recent Projects, Business Services, Homepage|Comments Off on August 2020 Corporate Records

August 2020 Corporate Terminations

Business owners are continuing to wind up their operations. DeAngelis Legal terminated five entities this month, three corporations and two limited liability companies. While COVID-19 was not the reason for most of the terminations, it is a telling sign of the state of the economy when we terminate more entities than we create in a [...]

By |2020-10-27T20:39:10-07:00September 15th, 2020|Entity Formation, Recent Projects, Business Services|Comments Off on August 2020 Corporate Terminations

July 2020 Operating Agreement

Prepared an amended and restated operating agreement between equal owners of an Arizona limited liability company.  DeAngelis Legal reviewed and evaluated owners’ objectives and prepared a compressive operating agreement that incorporated the new LLC law which applies to existing entities as of September 1, 2020.  For more on the new law see https://www.deangelislegal.com/arizonas-new-llc-act/  The operating agreement [...]

By |2020-08-29T16:49:10-07:00August 15th, 2020|Entity Formation, Recent Projects, Succession Planning, Protecting Family Wealth, Homepage|Comments Off on July 2020 Operating Agreement

May 2020 Corporate Dissolution

DeAngelis Legal dissolved several entities that had either sold their assets or had terminated their business operations.  Taking the time to formally and correctly terminate the entity with the Arizona Corporation Commission reduces the risk of identity fraud and accelerates the statute of limitations so future claims are barred.  DeAngelis Legal advised the owners on [...]

By |2020-07-04T16:20:28-07:00June 15th, 2020|Entity Formation, Recent Projects, Business Services|Comments Off on May 2020 Corporate Dissolution

May 2020 Entity Formation

DeAngelis Legal formed several new entities from standard real estate holding companies to entities created to capitalize on opportunities caused by the COVID-19 outbreak.  DeAngelis Legal assisted the clients in identifying the correct entity, including the clients' perspectives on privacy, liability protection, complexity and income tax preferences.  DeAngelis Legal prepared the formation documents including articles [...]

By |2020-07-04T16:15:14-07:00June 15th, 2020|Entity Formation, Business Services, Protecting Family Wealth|Comments Off on May 2020 Entity Formation

November 2019 Corporate Dissolutions

Represented several clients with the formal dissolution of their closely held entities.  A dentist, an anesthesiologist and a real estate investor all had wound down their operations and chose to formally dissolve their entities with the corporation commission to cut off future creditors.  DeAngelis Legal assisted each client with the preparation of a plan of [...]

By |2020-01-25T19:13:04-07:00December 15th, 2019|Entity Formation, Recent Projects, Business Services, Homepage|Comments Off on November 2019 Corporate Dissolutions

Arizona’s New LLC Act

Like poppies blooming in the desert after a wet winter, limited liability companies (LLCs) are everywhere and Arizona’s new LLC Act affects all of them as well as their owners and managers.  Arizona’s new LLC Act is based on the Revised Uniform Limited Liability Company Act (RULLCA) endorsed by the Uniform Laws Commission. The new [...]

By |2019-04-28T15:37:51-07:00April 23rd, 2019|Past Newsletters, Entity Formation, Business Services, Protecting Family Wealth|Comments Off on Arizona’s New LLC Act

January 2019 Business Start Up

Represented beneficiary with choice of entity and capitalization issues. Beneficiary desired to open a new branch of the family business.  DeAngelis Legal assisted beneficiary with reviewing her alternatives and selecting appropriate type of entity, drafted the formation documents and formed the entity.  DeAngelis Legal also assisted beneficiary with capitalization of the business and prepared the [...]

By |2019-03-15T19:08:10-07:00February 15th, 2019|Entity Formation, Recent Projects, Business Services, Protecting Family Wealth|Comments Off on January 2019 Business Start Up

October 2018 LLC Formation and Termination

Created several new limited liability companies (LLCs). DeAngelis Legal represented a couple current and new clients with the formation of LLCs.  DeAngelis Legal assisted the clients with entity type selection and tax classification, preparing the formation documents and filing the Articles with the Arizona Corporation Commission for approval.  DeAngelis Legal also terminated one entity which was [...]

By |2018-11-18T15:14:56-07:00November 15th, 2018|Entity Formation, Recent Projects, Business Services, Protecting Family Wealth|Comments Off on October 2018 LLC Formation and Termination