How To Form an LLC In Utah
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1. Choose a Name for Your Utah Limited Liability Company
Check for an Available Name for the LLC in Utah: Check for name availability before you decide on a name for your LLC. You should be sure that the name that you have decided on is not in use by another LLC. You can check name availability by searching online databases and other official records. You can start by searching the database of business entities available on the official website of the Utah Secretary of State at Utah LLC.
Reserve a Name for Your Utah LLC: You might consider reserving a name for your LLC if you do not plan to file Articles of Organization in Utah right away. You can download an application to reserve a name for your LLC at Utah LLC. The fee to file this application is $22.00. The name will be reserved for a period of 120 days.
Filing for Trademarks Protection and Doing an LLC Name Search: Even if the name that you have decided on for your LLC is available in Utah, there could be restrictions on your use of the name if the name is in use by an LLC in another state. If you consult an attorney you can learn more about what these restrictions may be and how you can protect the name that you have decided on for your LLC. You can learn more about choosing a name for your LLC at how to choose a name for your llc___.
Utah LLC Name Requirements: You must include the designation "LLC," “L.L.C.,” “L.C.,” or "Limited Liability Company” in the name of your Utah LLC. Keep in mind that “LLC” stands for “Limited Liability Company,” NOT “LLC Corporation,” “Limited Liability Corporation,” or anything else that could signify a corporation. An LLC is NOT the same as a corporation. LLCs are a distinct kind of business entity and are organized differently than corporations.
2. Find a Registered Agent in Utah
Choose a registered agent before you file Articles of Organization in Utah. A registered agent acts as an agent for service of process and receives tax forms, official documents, and legal notices for an LLC. There are many corporate services companies in Utah that offer registered agent services to LLCs for a fee of around $75.00 to $150.00.
3. File Articles of Organization with the Utah Secretary of State
Minimum Requirements for the Articles of Organization: The Articles of Organization that you file for your Utah LLC must include the name and purpose of your LLC, the principal address of your office, the name and address of your registered agent, and the name and address of the organizer, and the name and address of each of the members of the LLC. If the LLC will be managed by managers, you must also include the name and address of each of the managers. Each organizer, member, and manager must sign the Articles of Organization. You can download a form for this document online at Utah LLC.
Other Utah Legal Provisions: You can include additional provisions in your Articles of Organization if you wish. If you consult a lawyer you can learn which additional provisions are the most beneficial and important for your LLC.
Where to Submit the Articles of Organization for Filing: Send your signed Articles of Organization to the Utah Division of Corporations & Commercial Code, P.O. Box 146705, Salt Lake City, Utah 84114-6705.
Filing Fee: There is a $70.00 processing fee for Articles of Organization in Utah.
4. Form a Utah Limited Liability Company Agreement (Operating Agreement)
An LLC Agreement governs operations of an LLC similar to the way that by-laws govern operations of a corporation. You can create an LLC Agreement that customized to the needs of your company. Are you running a manufacturing company, a retail store, a technology start-up company, or some other kind of business? Your LLC Agreement can reflect the purpose of your LLC as well cover issues such as what the procedures for admitting new members will be, whether the members will be organized as a board or as a committee, how money will be distributed among the members, and how interests will be transferred. You can even set out what will happen if you decide to sell the company or incorporate in the future. Since there are so many issues to consider when you create your LLC Agreement, it is best to turn to a lawyer and an accountant for help. A lawyer and an accountant can help you to create an LLC Agreement that complies with all state requirements and federal tax laws.
Besides creating an LLC Agreement, you should prepare to make securities filings for your LLC, obtain an EIN from the IRS, and apply for a business license for the location where you will be doing business. There are many corporate services companies in Utah that offer assistance with these filings to LLCs for a fee. You can learn more about how to apply for a business license in your city at http://www.cityapplications.com/business-licenses.html.
5. Qualify Your Utah LLC to Do Business in Other States
Qualifying or registering your LLC is necessary before you will be permitted to do business in other states. You must qualify your LLC before you will be permitted to do business in your home state if the main office of the company is located outside Utah. You should realize that you will be required to pay taxes in your home state anytime you do business in another state. You can learn more about how you can qualify your LLC to do business in other states at [Qualifying to Do Business in Other States].
6. Make Annual Filings and Pay Annual Taxes in Utah
In Utah, you must file an annual report/renewal for your LLC. You can renew your business online at Utah LLC. There is a $15.00 fee for this report. You must also file a tax report every year and pay the necessary taxes for your LLC. You can learn more about the taxes that will apply to your LLC at the official website of the Utah State Tax Commission at Utah LLC.
When you are forming an LLC in Utah you will face many decisions. If you consult an accountant and an attorney you can be more confident that forming an LLC is the right choice for your company and that all your paperwork is being processed correctly.
This article is for informational purposes and does not constitute legal, financial or tax advice. This information is derived from various sources and should not be relied on as an official source of information. All information should be independently verified. You should consult a legal or accounting professional before incorporating your business.Search by State
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