Getting a Certificate of Organization is one of the first steps you must do if you want to launch a business in Utah. The creation of a limited liability company (LLC) in the state of Utah necessitates the filing of this document, commonly known as the articles of organization. This article will walk you through the process of obtaining a Certificate of Organization in Utah.
Choosing a name for your LLC is the first step in getting a Certificate of Organization in Utah. Your chosen name must be original and distinct from any other operating company in Utah. On the website of the Utah Division of Corporations and Commercial Code, you can do a name availability search.
The second step is to select a registered agent. Choosing a registered agent for your LLC is the next step. A registered agent is a person or business that consents to receive court documents on your LLC’s behalf. The registered agent must reside in Utah and have a physical address.
The Utah Division of Corporations and Commercial Code will accept the Certificate of Organization once you have decided on a name for your LLC and designated a registered agent. Online or mail-in filing is an option. There is a $70 filing fee.
In Utah, you are allowed to act as your own registered agent. To accept legal documents, you must have a Utah physical address and be accessible during regular business hours.
Depending on the sort of business entity you are founding, Utah incorporation fees vary. A Certificate of Organization for an LLC requires a filing cost of $70.00. A corporation must pay $70 for the filing of its articles of incorporation, plus an extra cost dependent on the number of authorized shares.
You must submit Articles of Amendment to the Utah Division of Corporations and Commercial Code in order to modify your articles of incorporation there. There is a $30 filing fee. Additionally, a copy of the modified articles must be provided.
The manner they are taxed is the primary distinction between an LLC and a corporation. The income and losses of LLCs are frequently passed through to the owners and recorded on their personal tax returns as pass-through entities. On the other hand, corporations are taxed separately and are required to pay taxes on their earnings. The way they are run is another distinction. Corporations are run by a board of directors, whereas LLCs are run by their owners.