How to Set Up an LLC in Utah: Everything You Need to Know
How to set up an LLC in Utah is one question that many entrepreneurs contemplate. 3 min read
How to Set Up an LLC in Utah: The Basics
How to set up an LLC in Utah is one question that many entrepreneurs contemplate. Starting an LLC in Utah refers to undergoing the process of forming a limited liability company, a business structure that combines the limited liability associated with corporations with the pass-through taxation associated with sole proprietorships and pass-through taxation in the state of Utah.
Starting an LLC in Utah
In the state of Utah, limited liability companies are easy to form and affordable.
One of the main advantages of a limited liability company is that the members are not held personally liable when it comes to matters related to the company. If something goes wrong with the LLC, the personal finances of the members do not have to be used to resolve the issue.
Just like other states, Utah has requirements for LLCs that are specific to the state.
Any party interested in starting an LLC in Utah will need to register with the Division of Corporations. A party can do this by filling out the necessary documents, paying the required fees, and meeting the guidelines for naming and formation.
You can fill out the required documents on your own. However, it's always a good idea to seek the advice of a lawyer when going through the process of forming a company. A lawyer who has experience with business law is your best bet. You should ask for recommendations from other people in your industry if you're not sure who to employ.
Steps to Form a Utah LLC: Name Your LLC
The first and most vital step of forming an LLC is naming the business. You should conduct research to make sure you select a name that is suitable for your business venture and easy to remember and search for potential customers.
If you want to improve your chances of your LLC name being approved, you should make sure your proposed name is as distinguishable as possible from the names of other LLCs. You should also include the required words for LLC names. Before you send in your LLC formation documents, you can have your proposed name-checked for availability.
It is essential that you follow naming guidelines. Your entity name should include "limited liability company," "LLC," or "L.L.C." The last two options are abbreviations for limited liability company.
Some examples of restricted words for the names of LLCs are as follows:
You should keep in mind that you may be required to fill out more paperwork if you want to include a restricted word in the name you propose for your LLC. Also, you may be asked to have a lawyer, doctor, or other licensed individual join your LLC.
Any words that would cause individuals to think your LLC is a state or federal agency are prohibited. Some examples of such words are "Treasury," "Secret Service," and "FBI."
You should go to the State of Utah website to conduct a name search and confirm that your proposed name isn't already in use.
Before proposing a name for your LLC, you should also check to see whether an appropriate domain name is available. Even if you don't want to start building your website now, you should buy the domain name to make it impossible for other people to acquire.
You can reserve a name for six months in Utah. to reserve a name, you will need to file an application with Utah's Division of Corporations. You can this online or by mail. You will need to include a filing fee with all name reservation requests. Your application should include the proposed name, a description of the intended use of the name, and your information and signature.
The filing fee is $22 and you can file the application by mail or on the Utah Online Business Registration website.
When selecting a name for your LLC, you should also consider the professional email address you want for your business.
Steps to Form a Utah LLC: Choose a Register Agent
If you need help with how to set up an LLC in Utah, you can post your legal need on UpCounsel's marketplace. UpCounsel accepts only the top 5 percent of lawyers to its site. Lawyers on UpCounsel come from law schools such as Harvard Law and Yale Law and average 14 years of legal experience, including work with or on behalf of companies like Google, Menlo Ventures, and Airbnb.