Utah LLC Registration: Everything You Need to Know
Utah LLC registration is a popular choice for many business owners because it provides them with protection from liability.3 min read
Utah LLC registration is a popular choice for many business owners because it provides them with protection from liability and reduces the company's reporting requirements. Forming a limited liability company (LLC) in Utah is relatively easy and affordable, though there are some state-specific requirements owners will need to be aware of.
Steps to Forming an LLC in Utah
To form your Utah LLC, you must complete multiple steps before the state will officially recognize your company.
1. Name Your LLC
Choosing your LLC name is the first and most important step when forming your company. It is important to do some research before deciding on your name to make sure it is easily searchable and properly suited to your business venture.
When choosing your LLC name, you will also have to follow certain naming guidelines to make sure the state accepts your name:
- Your name must contain the words LLC, LC, Limited Company, or Limited Liability Company at the end.
- You cannot use restricted words such as "bank" or "attorney" without proper licensing paperwork to accompany it.
- You cannot use prohibited words that would indicate an affiliation with a state or federal agency.
- Your name must be completely different from any other company registered in the state.
Once you have chosen the name of your LLC, you can reserve it by filling out an Application for Reservation of Business Name with the Utah Division of Corporations along with a $22 filing fee. This will reserve your business name for up to 120 days. You should also check for an available domain name and email addresses when choosing your LLC name.
2. File a Certificate of Organization
- The LLC name and business address.
- The name and address of the LLC's registered agent.
- Each organizer's name and address.
- A statement clarifying whether the business will be member-managed or manager-managed.
Though not required, you should probably have all members sign a company operating agreement. With your Certificate of Organization, you will need to include any licenses or permits required by state professional boards.
You can file your form one of several ways:
- Online through the Utah Online Business Registration website, which is the fastest and easiest way. The process takes only 24 hours.
- Via mail to the Utah Division of Corporations and Commercial Code. Be sure to include a return envelope and postage. The average processing time runs between seven and 10 business days.
- Via fax or email.
- In person at the Heber M. Wells building in Salt Lake City.
The filing fee is $70, though expedited processing will cost more.
3. Appoint Your Registered Agent
To register as an LLC in Utah, you are required to appoint a registered agent. Your registered agent will receive important business correspondence as well as serve as the delivery point for any legal paperwork. In Utah, you can act as your own registered agent or appoint another resident or business entity that is allowed to do business in the state. All registered agents must maintain a physical address in the state where they can receive paperwork during normal business hours.
4. Draft an Operating Agreement
Though it is not required to form an LLC in Utah, you should consider putting together an operating agreement. This document details the ownership as well as the procedures involved in running your LLC. If you do create an operating agreement, you do not need to file it with your Articles of Organization.
5. Obtain an EIN
You will need to file for an Employer Identification Number (EIN), or a federal tax identification number, which acts as the social security number for your company. You will be required to use this number when you file both your state and federal taxes, and many banks will require it for opening a business account. You can apply for an EIN on the IRS website. There is no filing fee for this service. If you are a single-member LLC and do not have any employees, you do not need to obtain an EIN.
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