In Utah, forming an LLC is a fantastic method to legally safeguard your personal assets while operating your business. It is a reasonably easy technique that only requires a few steps to finish. This article will walk you through the process of setting up an LLC in Utah.
Select a Name for Your LLC in Step 1 You must select a name for your company before you can register an LLC in Utah. The name of your LLC must be original and unregistered with the Utah Secretary of State. The Utah Division of Corporations and Commercial Code (UDCCC) website allows you to check whether a name is available.
Step 2: Submit Articles of Incorporation The next step is to submit Articles of Organization to the Utah Secretary of State after deciding on a name for your LLC. This is a legal document that establishes your LLC in full. The articles of organization can be submitted by mail or online. For online filing and paper filing, the filing fee is $70 and $75, respectively.
Obtain an EIN in Step 3 Your business will receive an EIN (Employer Identification Number), a special identification number issued by the IRS. It is required to open a business bank account as well as for tax purposes. On the IRS website, you can submit an online application for an EIN. An EIN can be obtained for free.
Create an operating agreement in step four. A legal document known as an Operating Agreement describes how your LLC will be managed. Although it is strongly advised, Utah law does not require it. An Operating Agreement can safeguard your personal assets and assist in preventing disputes amongst LLC members.
The answer is yes, an LLC is able to own another LLC. Both a parent LLC and a subsidiary LLC are terms for this. The parent LLC is the legal owner of the subsidiary LLC and has the power to act on the subsidiary LLC’s behalf. What is DBA Example, exactly?
“Doing Business As” is referred to as DBA. It’s a moniker a company employs that differs from its official name. As an illustration of a DBA, consider the case of “John’s LLC” wanting to use the name “John’s Pizza” for its commercial operations. The DBA for “John’s Pizza” would be submitted.
Can I Use the Same DBA as Another Person? Your DBA cannot be the same as another person’s DBA, sorry. You are registering that name with the state when you submit a DBA application, making it unusable to anybody else. You will need to select a different DBA if the name you desire is currently in use by someone else. How Can I Launch My Own Business in Utah? You must do the following actions in order to launch your own business in Utah: Choosing a business structure (sole proprietorship, LLC, corporation, etc.) is step one. Step two is registering with the Utah Division of Corporations and Commercial Code. Step three is filing taxes with the Utah State Tax Commission. Step four is creating a business plan. Step seven is opening a business bank account. Step eight is starting your company. In conclusion, creating an LLC in Utah is a straightforward process that can be finished in a short amount of time. To make sure that your LLC is correctly established and protected by the law, it is crucial to carefully follow the instructions. Don’t forget to take into account getting an EIN and drafting an Operating Agreement. Additionally, make sure the DBA you choose is original and hasn’t been registered by anybody else.
The price of Utah trademarking a name is not mentioned in the article “How to Become an LLC in Utah: A Step-by-Step Guide.” To register a trademark, the United States Patent and Trademark Office (USPTO) levies a cost ranging from $225 to $400 per class of products or services. The price of using a trademark agency or lawyer to help with the application procedure varies. For more precise and recent information on Utah trademark registration costs, it is advised to speak with an attorney.
To operate as an LLC in Utah, a business must register with the state department of commerce. Both domestic LLCs (created in Utah) and international LLCs (created outside of Utah but conducting business in Utah) fall under this category.