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Forming an LLC in Utah
Forming an LLC in Utah is pretty straightforward and hiring an attorney is not mandatory. Letting an attorney check the Operating Agreement is however a wise decisions, because improper Operating Agreements have rendered LLC’s problems with the IRS in the past. If you want to skip as much paperwork as possible, you can let a professional incorporation agency take care of the entire process of forming an LLC in Utah for you.
Forming an LLC in Utah in 5 easy steps
- Select a name for the LLC. The name must be unique (i.e. not used by another LLC) and include an LLC identifier, such as “Ltd Liability Company” or “L.L.C.” You must of course avoid trademark violations when selecting the name. When forming an LLC in Utah, you have to adhere to several restrictions. You cannot use the words “university”, “college” or “institute”, unless you obtain written consent from the Division of Consumer Protection issued in accordance with Section 13-34-114. You cannot use the terms “Olympiad”, “Olympic” or “Citius Altius Fortius” without the written consent of the United States Olympic Committee.
- Once you have decided on a permissible name, you can file the Articles of Organization at the state filing office in Utah.
- The next step is to arrange an organizational meeting where the members of the LLC adopt an Operating Agreement.
- When the Operating Agreement has been formally adopted, it will be possible for the LLC to get a Federal Employer Identification Number (FEIN) and open its own bank account.
- Last but not least, the LLC must acquire a local business license from each city or county in which it wishes to conduct business.
Important facts to take into consideration before forming an LLC in Utah
- The minimum LLC filing fee in Utah is comparatively low: $52.00. (For 40 business days.)
- The Annual Report must be handed in on the month of the original filing each year. The annual report fee is $12.
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