Utah Corporation: Everything You Need to Know

A sort of corporate entity created under the Utah Revised corporate Corporation Act is a Utah corporation. This kind of corporation is a different legal person from its owners or shareholders, which entitles it to certain legal rights such as the ability to contract, bring legal actions, and own property. Before starting a firm, Utah corporations must submit their articles of incorporation to the Utah Division of Corporations and Commercial Code (DCCC).

Limited liability protection is one of the major advantages of establishing a Utah corporation. This indicates that shareholders are not held personally responsible for the corporation’s debts and responsibilities. The shareholders’ private assets, for instance, are not in danger in the event that the corporation is sued. Another benefit is that businesses can raise money by issuing stock, which is a potentially alluring alternative for investors. You can use the Utah Business Search database on the DCCC website to find out who owns an LLC in Utah if you’re curious. All Utah-registered business entities, including LLCs, corporations, and partnerships, are included by this database. You can conduct a search using either the company name or the registered agent’s name.

You must submit articles of incorporation to the DCCC in order to form a corporation in Utah. The name of the corporation, the total number of shares authorized for issuance, the registered agent’s name and address, and the names and addresses of the founding directors must all be listed in the articles of incorporation. For domestic corporations, the filing fee is $70, whereas it is $225 for overseas corporations.

In Utah, a certificate of existence is a record that attests to a company’s good standing with the state. This indicates that the company has met all filing and legal requirements and is qualified to conduct business in the state. The DCCC charges $20 for a certificate of existence request.

The form of corporation you choose and the services you utilize to incorporate can both affect how much it will cost to incorporate in Utah. For domestic corporations, the filing fee for articles of incorporation is $70, whereas it is $225 for foreign businesses. For services like expedited processing or others, there can be extra costs. It’s crucial to conduct research and evaluate costs before deciding to incorporate.

In conclusion, a Utah corporation is a kind of corporate entity that permits the issuance of shares as a means of capital raising and provides limited liability protection. You may search the Utah Business Search database to learn who owns an LLC there. You must submit articles of incorporation to the DCCC along with a filing fee in order to form a corporation in Utah. For a $20 cost, a certificate of existence can be obtained from the DCCC. It’s crucial to conduct your homework before you start the process because the cost of incorporating in Utah might vary depending on a number of variables.