Which company should I use to form an LLC?
Forming an LLC in Utah
Forming an LLC in Utah in 7 easy steps
- The first step is to select a name for your limited liability company. The name must be available (i.e. not used by another LLC) and it must adhere to trademark law. The name must also contain and LLC identifier, such as “Limited Company” or “LLC”. According to Utah state law, you must obtain a written consent from the Division of Consumer Protection issued in accordance with Section 13-34-114 if you want to use the any of the words “university”, “college” or “institute” in the name of your company. Using the words Olympiad”, “Olympic” or “Citius Altius Fortius” without the written consent of the United States Olympic Committee is not allowed.
- You are not required by law to hire an attorney when forming an LLC in Utah, but it is customary to let an attorney check the Operating Agreement before it is adopted. The reason behind this is that flawed agreements are known to easily lead to IRS trouble for LLC’s.
- File the Articles of Organization at the state filing office in Utah and pay the LLC filing fee. The minimum fee in Utah is comparatively small: $52.00. (For 40 business days.)
- Before you can proceed any further, the members of the LLC must attain an Organizational Meeting where they formally adopt the Operating Agreement.
- Get a Federal Employer Identification Number (FEIN) for the LLC.
- Let the LLC open up a bank account.
- The final step is to apply for local business licenses from each city/county that you will be active in. Also check if the LLC needs any permits.
Maintaining an LLC in Utah
Limited Liability Companies in Utah must hand in an annual report on the month of the original filing each year and pay an annual report fee of $12.
