What is required to form an LLC in utah [FAQ]



Last updated : Aug 9, 2022
Written by : Palmer Testerman
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What is required to form an LLC in utah

How do I form an LLC in Utah?

  1. Name Your Utah LLC.
  2. Choose Your Registered Agent.
  3. Prepare and File Certificate of Organization.
  4. Receive a Certificate From the State.
  5. Create an Operating Agreement.
  6. Get an Employer Identification Number.

How much does a LLC cost in Utah?

The cost to start an LLC (limited liability company) online in Utah is $70. This fee is paid to the Utah Department of Commerce when filing the LLC's Certificate of Organization.

Does an LLC need a business license in Utah?

All businesses in Utah are required by law to register with the Utah Department of Commerce either as a "DBA" (Doing Business As), corporation, limited liability company or limited partnership. Businesses are also required to obtain a business license from the city or county in which they are located.

WHAT ARE LLC requirements?

  • Business Name. Your LLC must have a name that is unique and is not the same or confusingly similar to another business.
  • Registered Agent.
  • Operating Agreement.
  • Articles of Organization.
  • Business Licenses and Permits.
  • Statement of Information Form.
  • Tax Forms.

How long does it take to file an LLC in Utah?

You can get an LLC in Utah in 2 business days if you file online (or 2-3 weeks if you file by mail).

How are LLCs taxed in Utah?

Utah LLCs will be treated as partnerships for tax purposes. Partnership tax treatment is advantageous because the earnings of a partnership are treated as the earnings of its partners. No separate tax is imposed on the partnership entity.

Can you have a single member LLC in Utah?

Can I form a single-member LLC in Utah? For most formation purposes, a Utah single-member LLC is considered the same as a multi-member LLC. The steps to form a single-member LLC in Utah are the same as those listed above. Single-member LLCs do have additional flexibility when it comes to filing a tax return.

How do I get an EIN number in Utah?

If you need a Utah state tax ID number, your first step should be getting a federal tax ID number. Once you have that, make use of our Utah state tax ID number obtainment services. You can fill out the application online, and get your state tax ID number in 4 to 6 weeks.

What do I need to start a business in Utah?

  1. Choose a Business Idea.
  2. Decide on a Legal Structure.
  3. Choose a Name.
  4. Create Your Business Entity.
  5. Licenses and Permits.
  6. Pick a Business Location and Check Zoning Regulations.
  7. Review Your Tax Registration and Reporting Requirements.
  8. Obtain Insurance.

How long does it take to get a Utah business license?

How long does it take to receive a Utah business license? Most business licenses in the cities can be issued within 30 days. You can contact the city or county your businesses activity is in by calling or emailing the appropriate department (i.e., building, zoning, fire department, health department).

What is a sole proprietorship vs LLC?

An LLC exists separately from its owners—known as members. However, members are not personally responsible for business debts and liabilities. Instead, the LLC is responsible. A sole proprietorship is an unincorporated business owned and run by one person.

How do I register my business with the state of Utah?

You may register online at www.tax.utah.gov/sales/specialevents.html, or contact the Utah State Tax Commission directly at (801) 297-6303 or at 1-800-662-4335, ext. 6303.

What is the downside of an LLC?

Disadvantages of creating an LLC Cost: An LLC usually costs more to form and maintain than a sole proprietorship or general partnership. States charge an initial formation fee. Many states also impose ongoing fees, such as annual report and/or franchise tax fees. Check with your Secretary of State's office.

Can I use my personal bank account for my LLC?

Yes, you can operate a sole proprietorship or an LLC using your personal bank account, but it isn't advisable. Sole proprietorships aren't required to have a separate business bank account unless they trade using a fictitious DBA name (doing business as).

Can I file my LLC and personal taxes separate?

The IRS disregards the LLC entity as being separate and distinct from the owner. Essentially, this means that the LLC typically files the business tax information with your personal tax returns on Schedule C. The profit or loss from your businesses is included with the other income your report on Form 1040.

Can I be my own registered agent in Utah?

Yes, you can be your own Registered Agent in Utah as long as you meet the state requirements. (Unfortunately, most Registered Agent Services and LLC filing companies hide this information.)

What is a series LLC in Utah?

A Series Domestic Limited Liability Company is formed by one or more individuals or entities through a special written agreement. The agreement details the organization of the LLC including: provisions for management, assignability of interests, and distribution of profits or losses.

What is the purpose of a Series LLC?

With a Series LLC, a holding company can hold all individual businesses under a single umbrella while mitigating the risk of one business' assets being used to satisfy the debts or liabilities incurred by another of its businesses.

Do I need a Utah state tax ID number?

Outside of obtaining your Federal Tax ID (EIN) in Utah you will also likely need a Utah State Tax ID. This ID is needed to pay business taxes, state income tax and/or sales tax on items you sell. Generally the State Tax ID is used for the follow: Sales and Use Tax.

Does Utah require an annual report?

Utah Annual Report Service & Filing Instructions. The state of Utah requires all corporations, nonprofits, LLCs, LPs, LLPs, and LLLPs to file an annual report. These reports must be submitted to the Utah Division of Corporations & Commercial Code each year.


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What is required to form an LLC in utah


Comment by Thanh Chamness

are you wondering how to start an llc in utah today you will learn about the most common ways to start your business including the correct forms you'll need how to register your llc critical naming requirements and all other vital tips and tricks then as a bonus later in the video i will reveal a trustworthy registered agent who will help set up your llc for free so make sure to stick with me until the end the state of utah like other states has several specific llc requirements there are three main ways you can start an llc in utah first is the diy or do-it-yourself process where you mostly depend on utah state's website the second way is hiring a professional service that practically offers more efficiency and security in the process of creating your llc while the third one is hiring an attorney we will skip the attorney hiring portion because that's expensive and most business owners won't need that service first let's take a look at the steps required for starting an llc on your own step 1 name your business before anything else under utah law an llc name must contain the words limited liability company or limited company or the abbreviations llc llc lc or l.c your llc's name must be distinguishable from other business entities already on file with the utah department of commerce division of corporations and commercial code names may be checked for availability at the utah business name database you may reserve a name for 120 days by filing an application for reservation of business name with the utah division of corporations the reservation may be filed online at the utah online business registration website or by mail step 2 utah requires llc to have a registered agent every utah llc must have an agent for the service of process in the state this is an individual or business entity that agrees to accept legal papers on the llc's behalf if it is sued the registered agent may be a utah resident or a business entity authorized to do business in utah the registered agent must have a physical street address in utah step 3 filing the utah llc certificate of formation a utah llc is created by filing a certificate of organization with the utah division of corporations the articles must include the llc's name the address of the llc's principal office the name and address of the llc's registered agent the signature of the organizer the name and address of members or managers the llc's duration and the llc's purpose the utah state filing cost for llcs is 70 for both domestic llc's and foreign llc's step four prepare an operating agreement now an operating agreement is a good idea to have in place with the other members if your llc has more than one member although a limited liability company operating agreement is not necessary for utah your operating agreement should clarify how your company or business will handle big picture issues such as allocating earnings and losses and dissolving the company your operating agreement should also cover the transfer of membership interest profits or losses and distributions initial investments decision making powers voting rights and management and lastly dissolving the business step 5 file annual renewals all utah llcs and foreign llcs authorized to do business in the state must file an annual renewal the equivalent of an annual report with the utah division of corporations and pay a twenty dollar fee the renewal is due one year from the date of your llc's initial registration and is due annually thereafter a renewal notice is sent by the division of corporations to your llc's registered agent 60 days before the llc's anniversary date you can file the report online or access a blank renewal form from the division of corporations website step 6 obtain an ein an ein or employer identification number is a federal tax id issued by the irs your ein is used by them to readily identify your firm and tax filings all utah firms pay a business privilege tax and the state requires you to have an ein to file you may also be required to provide your ein when opening a bank account or applying for municipal permits or licenses obtaining an ein is a slightly longer process compared to their previous steps i'm sure you know anything to do with the irs is confusing first you have to have complete knowledge of your llc such as your company information managing member information business address business information company details and even critical information regarding vehicular assets and federal excise taxes this is another reason why getting a professional registered agent is way more convenient as they can do this for you as part of their service now let's talk about the second option to form an llc and that is hiring a professional formation service professional formation services do all the steps you should be doing on your own from filing necessary forms to acting as your registered agent you usually have to allocate a specific budget for this option as i already mentioned earlier inc file is one of the best companies out there to help you form your llc you can click on the link in the description to get access to this deal inc file is one of a kind as it offers a free package with services such as preparing and filing your articles of organization well you still have to pay 237 dollars for the state fees which you would have to do anyway if you chose the diy option but looking at the bigger picture all other companies will still charge their service fee on top of state filing fees inc file does not collect this fee this plan already includes a free registered agent for your first year of subscription and 119 dollars annually moving forward if you decide to continue the service after the first year inc files next packages are the gold and platinum packages which both have package fees already on top of the 237 dollar state fee each package has its own set of services which are all worthy of the subscription you are paying for the gold package offers you the benefits of filing reports and taxes for your llc every year usa llcs are required to file a state annual report this report is essentially an information update of your file so that the state knows who is now in charge and how to contact your company usa llcs are also required to file state tax returns to make matters even more complicated your annual report and business privilege tax share a document and are due at the same time each year with the inc files gold package you won't have to scribble notes of these reports because ink file will handle the whole process for you your platinum package also has these services in the bag with the unique addition of expedited filing getting a domain name and a business email which essentially increases your llc's credibility inc file also has an exclusive partnership with bank of america so you can easily open an eligible checking account for your business yes it is a must for your llc to have a business account remember an llc has limited liability for it is a separate entity from its members you may forfeit your liability protections if you combine your personal and business money and this is where the term p


Thanks for your comment Thanh Chamness, have a nice day.
- Palmer Testerman, Staff Member


Comment by skulertM

how to form an LLC in Utah Utah is an excellent place to form a new LLC with low corporate taxes and great access to venture capital Utah ranks third and ease of doing business in the US every state has slightly different requirements for forming an LLC follow along closely to learn the required steps for creating your own limited liability company in the state of Utah there are two ways to form an LLC in Utah you can form one yourself or you can hire a service to do it for you let's start by looking at the five basic requirements to form an LLC in Utah on your own you can also find these steps and more detail on our website linked in the description below one name your LLC every state has its own rules about what kind of names are allowed for LLC's in general you will need to observe these naming guidelines your name must include the phrase limited liability company or one of its abbreviations LLC or LLC with a period following H letter restricted words such as Bank Attorney law office etc may require additional paperwork and may also need a licensed professional to be part of the LLC your name cannot include words that could confuse your LLC with the government agency such as FBI Treasury State Department etc you cannot use a name that has already been registered to see if your name is available in your state you'll need to do a name search this free service is available on your state's Secretary of State website check out our free guide for finding the direct link to your state we also recommend that you check to see if your business name is available as a web domain even if you don't plan to make a business website today you may want to buy the URL in order to prevent others from acquiring it to choose a registered agent Utah requires that you nominate a registered agent for your LLC who is your business's point of contact with the state the registered agent can be an individual within the company including yourself or you can hire professional service authorized to do business in Utah they will send and receive legal papers on your behalf these documents include official correspondence like legal summons and document filings which your registered agent will receive and forward to you your registered agent will help to file the necessary reports failure to properly maintain your LLC can result in fines and dissolution so this assistance is valuable three file the certificate of organization to register your Utah LLC you will need to file the certificate of organization with the state of Utah this can be done online or by mail you should also decide whether your LLC will be member managed or manager managed member managed means all members of the LLC manage the company this is good for small organizations where everyone is involved in the day-to-day operations the second option is manager managed where individuals are appointed to manage the LLC this is appropriate for larger organizations where not everyone is involved in the day-to-day affairs of the business for create an operating agreement although not every state requires it you should always create an operating agreement to establish ownership terms and member roles for your LLC this foundational document is the core of your LLC and will help you maintain your organization as well as further establish your LLC is a separate legal entity there are six main sections of an operating agreement organization outlines when and where the company was created who the members are and how the ownership is structured management and voting addresses how the company is managed as well as how the members vote capital contributions covers which members financially support the LLC and how more funds will be raised in the future distributions outlines how the company's profits and losses are shared among members membership changes describes the process for adding or removing members as well as if and when members can transfer their ownership shares and dissolution which explains the circumstances in which the LLC may be dissolved an operating agreement is an internal document it does not need to be filed with the state however it should be updated every time there is a change in membership or management at the company you can download a free sample operating agreement or create a custom one using our free operating agreement tool at how to start an LLC comm 5 obtain an EIN lastly you'll need to get an employer identification number or ein from the IRS also known as a federal tax identification number your EIN is like a social security number for your LLC and is the IRS tracks your business for tax purposes an EIN is also necessary to open a business banking account and legally hire employees eons are free of charge and can be obtained from the IRS online or through the mail and with that you'll have formed a Utah LLC on your own option to hire professional service the second way to create a Utah LLC is to hire professional service to create your LLC for you hiring a professional service to file your forms and act as your registered agent for the LLC will cost you an additional fifty to one hundred and fifty dollars however there are several benefits to working with a pro a hired registered agent helps with getting your reports filed on time helps you stay organized by keeping your business mail separate and is available at all regular business hours to accept official mail and legal papers on your LLC's behalf a final and important additional benefit of using a service is privacy a professional service will provide a level of privacy by withholding your personal name and home address from the LLC's contact information there are many reasons why you might not want your personal information easily accessible and associated with your business hiring a professional LLC for mation service is an easy way to accomplish this now that you have seen the different requirements in ways you can form an LLC in Utah visit our site and take some time to research your options and establish a solid foundation for your business activities click on the links in the description below to research the top five professional formation services or get more information on how to form a Utah LLC on your own now you know all the steps to form an LLC in your state for a more detailed guide go to how to start an LLC com you can also create an operating agreement and use our business plan tool free of charge give the video a like if you found it useful and subscribe if you'd like to see more and if you have questions or encounter any roadblocks leave a comment below good luck and starting your small business you


Thanks skulertM your participation is very much appreciated
- Palmer Testerman


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