Licensing and Registration in Utah
To operate in Utah, register for an Employer Identification Number (EIN) and Utah tax ID numbers to register with federal and state government to pay taxes and withhold employee wages. The EIN is used to identify your business.
The cost for a business license in Utah depends on your business type, ranging from $22-$52. Permit costs vary so research those based on your planned business type. You can find licensing information on Utah.gov.
Develop your brand identity, create a unique business name not used in Tooele or Utah, design a logo, and be consistent across marketing materials.
Becoming a Landlord in Utah
Utah law requires landlords provide habitable living spaces and make timely repairs, within 10 days. Tenants can legally break leases early under certain conditions but may still owe remaining rent unless landlords facilitate re-renting. Landlords must refund security deposits within 30 days of tenants moving out or 15 days after receiving forwarding addresses. While no laws limit rent increases or frequencies, landlords can’t deny applicants based on race, sex, religion, ethnicity or income sources.
Landlords must give 24-hour entry notice barring emergencies. The repair-and-deduct statute allows tenants to make repairs if landlords don’t and deduct costs from rent. Landlords should maintain code compliance. Tenants should cooperate in maintenance.
To become a 2022 landlord: Consider time, energy and funds needed for rental properties. Research helps positive cash flows. Financing options exist. After purchasing investment property, find renters and collect monthly rent. Consider long-term plans.