How to open an LLC company in Utah?
LLC is a very common and the most popular structure to start a business. LLC can be registered with one member only. An Articles of Organization must be filed with the Division of Corporations and Commercial Code to incorporate a Limited Liability Company. Yo can manage multiple businesses under one LLC.
How to File an Article of Organization in the state of Utah?
How to check Utah entity search prior to filing LLC in the state?
Search the name availability with the state, if the proposed name is available to incorporate. You can also reserve the name before filing the articles of organization, but reserving the name does not give you an authority to start your business officially.
Include the following information in your Utah article filing with the state
- Name of the LLC with an extension of LLC, L.L.C or a Limited Liability Company.
- Registered agent name and address. A registered agent can be an entity or a person receives mail on your behalf from the departments.
- Business address and P.O.Box is not allowed.
- Mailing address if different from the Business Address.
- Business Description (Any lawful business described under the state corporate law)
- Name and address the member (s) /owner (s).
- Organizer signature is required to file the article.
- You can create an LLC a Member Managed or a Manager Managed.
- Pay required filing fee online to process your articles of organization.
What is the state of Utah Estimated time file LLC?
The state of Utah normally takes 1-2 working days to approve your filing.
How to apply Employer Identification Number (EIN) for Utah?
An EIN is required for all legal entities to open a bank account, obtaining licenses and filing taxes.
Non US Resident Starting LLC in Utah
A Non US Resident can open an LLC without social security number. A Non US resident can appoint a manager in the USA to look daily business affair, if not literally present in the USA. Manager, Managed LLC will be formed if a Manager is looking after business affair.
File Yearly Utah Annual Report
Every LLC is required to file an LLC Annual Report yearly to renew its status. Filling
Operating Agreement in a state of UT Limited Liability Company
Though the operating agreement is not necessary to prepare to file an articles of organization with the state, but it is recommended to do so, because some banks and other departments may request to provide to see your operation process.
How to file Taxed in Utah?
S-Corporation- You can elect to file LLC taxes as an S Corporation, and you will file an election to the Internal Revenue Service (File 1120S).
C-Corporation- You can also file an election with the state to treat your LLC a corporation for the tax purposes (File 1120)
Single Member/Disregarded Entity- reports profit and loss on form 1040.
Multi-Member LLC-Limited Liability Company issues K-1 for members to report their income and loss on form 1040 (File 1065).
