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Tuesday, January 3, 2012

Annual Reports for LLPs

Happy New Year! You know what that means, right? Right! For those of us holding properties in Arizona LLPs, it's time to file the Annual Reports.

For each LLP, a simple one-page "Annual Report" that is available on the azsos.gov website must be filed between January 1 and April 30 every year. It just reaffirms the name and address of the "Agent for Service of Process" and the address of the "chief executive office" used by the LLP (if any). You send two copies of the form along with a cheque for $3 and a self stamped/addressed envelope to the AZSOS for filing. Pretty simple. Just something that has to be done to keep on the good side of the Secretary of State. Note: late filings attract a $25 penalty.

Interesting side-note: A notice on the azsos.gov web site says that when setting up an LLP, while you still need to publish the the statement of qualification for 3 consecutive publications of a newspaper, you no longer have to file proof of doing so. That's good. One less step when setting up an LLP. By the way, you did publish your SOQ right? If not, it might be a good idea to tidy that up.

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