LLCs in Utah are affordable and easy to form. And as with other states, the State of Utah has some specific LLC requirements that are unique to the state.
Interested parties must register with Utah’s Division of Corporations by filing the necessary forms, paying the necessary fees and meeting all naming and formation requirements.
The specifications required of LLCs in Utah are:
Registration. Registrants must file Articles of Organization with the Division of Corporations. This may be done online or by mail. The articles must include pertinent information such as:
LLC name and business purpose
Registered agent’s name and address
Type of management (member-managed or manager-managed)Duration of the company may be provided, but is not required (cannot exceed 99 years)
Organizer’s name, address and dated signature, if not a member or manager
All submitted documents must be accompanied by the payment for the filing fee.
Forms and fees. LLC registrants are required to file Articles of Organization accompanied by the nonrefundable filing fee. Expedited services are available for an additional fee.
Timeline. The standard processing time for documents with the Division of Corporations is seven to 10 business days.
Naming requirements. LLC naming requirements can be confusing. However, the easiest way to ensure that your LLC name will be approved is to make it distinguishable from other LLCs and to include specific words required of LLCs. You may opt to have a preferred name checked for availability before filing your LLC formation documents.
Formation requirements. To form an LLC, a registrant must first file Articles of Organization with the Division of Corporations.
An LLC with more than one member is also strongly advised to have a limited liability operating agreement among its members.
Should your LLC offer professional services, you may have to obtain certain licenses and permits from the state’s professional licensing boards.
Starting an LLC in Utah
Before you begin the registration process for an LLC in Utah, it’s important to know what an LLC is and whether or not it is a viable business structure for your company, so be certain to read up on the definition and benefits of an LLC.
These steps will guide you through the LLC registration process with the Utah Division of Corporations:
1. Decide on a name for your business. You can choose any name for your LLC as long as it ends with “Limited Liability Company,” “Limited Company” or any variation of its abbreviation—e.g., LLC, L.L.C., LC or L.C.
A name may be reserved for up to 120 days. You must file a name reservation application with the Division of Corporations by mail or online. All requests must be accompanied by the filing fee. Be sure to include the name to be reserved, a description of the intended business use of the reserved name and the applicant’s information and dated signature.
Prior to filing a name reservation application, you may check the availability of the preferred name on the Division of Corporations website.
2. Assign an agent for service of process. This is also referred to as the resident agent.
3. Get an Employer Identification Number (EIN) from the IRS. If there are two or more members in your LLC, your company will need to obtain an EIN from the IRS, for tax purposes.
4. Create an operating agreement. Although a Utah LLC is not required to have a limited liability company operating agreement, it is wise to have one in place with other members should your LLC have more than one member. The State of Utah recognizes limited liability company operating agreements as governing documents.
5. Familiarize yourself with the LLC’s continuing legal obligations, specifically annual renewals. These are due every year on or before the anniversary date of the formation of the LLC. The renewals are done online with the Division of Corporations. There is a small filing fee that must be paid yearly. Late submissions are subject to a penalty fee in addition to the required filing fee.
Make sure that your LLC, should it offer professional services, meets Utah state legal requirements.
Additional continuing legal obligations may vary with each state. These could be, but are not limited to, state taxes, annual or biennial reports and so on.
Filing an LLC and Fees
Following are the forms and fees that are required when starting an Utah LLC:
1. Forms. Complete and submit Articles of Organization to the Division of Corporations. All documents submitted must be accompanied with the payment for the necessary filing fee.
2. Fees. There is a non-refundable filing fee for Articles of Organization. Expedited services are available for an additional fee.
3. Limited liability company operating agreement. Although the LLC operating agreement will not be submitted to the Division of Corporations, it is a good idea to have one in place for LLCs with more than one member. This document should be kept on file by the registered agent.
4. Taxes. LLCs in Utah are treated as corporations, limited liability partnerships or single-member LLCs and are subject to federal income tax classifications. Depending on the type of taxation you opt to have for your LLC, you will have different federal tax responsibilities.
You should always make sure to acquaint yourself with the state laws regarding taxation. Your LLC may be subject to other taxes depending on the kind of services it offers.
Form an LLC Online in Utah
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