Establishing an LLC in Utah
To form an LLC in Utah, follow these key steps:
- Choose a name
- Appoint a registered agent
- File articles of organization
- Create an operating agreement
- Obtain an EIN
- Ensure compliance with licenses, permits, and regulations
Setting Up a Utah LLC
Consider these factors when setting up a Utah LLC:
- Define your business type
- Structure your LLC
- Register your business
- Understand tax implications
Cost Breakdown for Utah LLC Formation
The costs involved in starting an LLC in Utah include:
- $54 for Certificate of Organization
- Operating agreement drafting
- Registered agent expenses
- Business licenses and permits
Timeframe for Establishing an LLC
The duration for setting up an LLC in Utah varies:
- Online filing: 1 day
- Mailed filing: 2-3 weeks
- Expedited processing available for an additional fee
Pass-Through Taxation for Utah LLCs
Utah LLCs are treated as pass-through entities for tax purposes, with income and losses passed through to members.
Annual Reporting and Filing Fees
LLCs in Utah must submit an annual report and pay an $18 state filing fee each year.
Business Entity vs. Business License
An LLC in Utah is a business entity, distinct from a business license.