You’re in the right place if you want to form a corporation in Utah. Utah is among the finest states for starting a business because of its pro-enterprise laws, low taxes, and a thriving entrepreneurial community. Before you can benefit from operating a corporation in Utah, you must first establish up your company by following a few steps. We’ll walk you through the steps of forming a corporation in Utah and respond to some associated inquiries in this post.
To form a corporation in Utah, you must first decide on a name for your company. Make sure that no other company in Utah has already registered the name you intend to use. The Utah Department of Commerce website has a searchable database of potential company names. You must register your selected name with the Utah Division of Corporations and Commercial Code after you’ve made your decision. The cost is $22 and you can do this online or by mail.
The second step is to submit your articles of incorporation The Utah Division of Corporations and Commercial Code is where you must submit your articles of incorporation after that. The name, address, and purpose of your corporation, the quantity and kind of stock you plan to issue, as well as the names and addresses of your initial directors, should all be included in your articles of incorporation. Additionally, you’ll be charged a fee of $70.
Obtain a business license in step three. The Utah Department of Commerce will need you to apply for a business license after you have registered your business and submitted your articles of incorporation. Check the requirements for your business before applying because the cost of a business license varies depending on your sector and area. You can submit an online or postal application for a business license. Utah: Modifying Your Articles of Incorporation
If your articles of incorporation in Utah need to be amended, you can do so by submitting an amendment with the Utah Division of Corporations and Commercial Code. The cause for the adjustment must be stated, and there is a $30 cost. Getting an Organizational Certificate in Utah
Instead of filing articles of incorporation, you must obtain a certificate of organization if you’re founding a limited liability company (LLC) in Utah. You must submit articles of organization and pay a fee of $70 to the Utah Division of Corporations and Commercial Code in order to obtain a certificate of organization.
Does Utah Require a Certificate of Existence? Your corporation or LLC’s registration and good standing with the state are attested to by a certificate of existence, also known as a certificate of good standing. If you’re opening a bank account, conducting business in another state, or applying for a loan, you could require a certificate of existence. The Utah Division of Corporations and Commercial Code charges $20 for a certificate of existence.
In conclusion, there are a few processes involved in creating a company in Utah. These steps include picking a name for your firm, registering it, filing your articles of incorporation, getting a business license, and, if necessary, getting a certificate of existence. By doing these actions, you can create a corporation in Utah and take advantage of the advantages of conducting business in a state that encourages innovation and entrepreneurship.
No, a good standing certificate and a certificate of existence are not the same. A good standing certificate verifies that the corporation is up to date on all of its filings and taxes with the state, while a certificate of existence only verifies the corporation’s existence and authority to conduct business in Utah.