Frequent question: How do I create an LLC in Utah?

How long does it take to get an LLC in Utah?

You can get an LLC in Utah in 2 business days if you file online (or 2-3 weeks if you file by mail).

Can I set up an LLC on my own?

You may be able to set up an LLC by yourself, especially if you’re a single-member LLC. Do your research and head to your state’s business formation website to determine the exact paperwork you need.

Is Utah a good state to form an LLC?

Since, Utah is considered to be an excellent state for start-ups or new businesses; it is also home to some really great upstarts like Tranont with revenues of $11.4 million.

How much does it cost to register a business in Utah?

The OneStop Online Business Registration system will only collect the filing fee for the Utah Department of Commerce, Division of Corporations and Commercial Code that ranges from $22.00 to $52.00 and these fees are non-refundable. These fees can be paid with a Visa, MasterCard, or virtual check.

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How are LLCs taxed in Utah?

In Utah, the corporate income tax generally is calculated at a flat 5% of Utah taxable income with a minimum tax of $100. If your LLC is taxed as a corporation you’ll need to pay this tax. The state’s corporate income tax return (Form TC-20) is filed with the Utah State Tax Commission (TC).

Which is better LLC or sole proprietorship?

Most LLC owners stick with pass-through taxation, which is how sole proprietors are taxed. However, you can elect corporate tax status for your LLC if doing so will save you more money. … However, due to the combination of liability protection and tax flexibility, an LLC is often a great fit for a small business owner.

At what point do I need an LLC?

Any person starting a business, or currently running a business as a sole proprietor, should consider forming an LLC. This is especially true if you’re concerned with limiting your personal legal liability as much as possible. LLCs can be used to own and run almost any type of business.

How much does an LLC cost?

The main cost of forming a limited liability company (LLC) is the state filing fee. This fee ranges between $40 and $500, depending on your state.

Is an LLC a business license?

A business license is not the same as forming an LLC (limited liability company) or other legal business entity. An LLC is a legally recognized business entity while a business license gives you permission to engage in a specific type of business in a certain jurisdiction.

Can I be my own registered agent in Utah?

Can I Be My Own Registered Agent In Utah? Yes, any owner or employee of a business can be its registered agent in Utah as long as they are over the age of 18, and have a street address in Utah. … Though many businesses prefer to use a professional registered agent service.

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How long does it take to set up an LLC?

Depending on how fast the state processes business filings, it can generally take between a week to ten business days. In some states, once your intake information is received, the state agency often issues approval for the limited liability company within only three business days.

How much does an LLC in Utah cost?

The cost to start a Utah limited liability company (LLC) online is $70. This fee is paid to the Utah Department of Commerce when filing the LLC’s Certificate of Organization. Use our free Form an LLC in Utah guide to do it yourself.

Does a sole proprietor need a business license in Utah?

Business License. Even though you don’t have to file any documents in order to begin operating your business as a Utah sole proprietorship, you do need to obtain a business license from the county/counties where you will be conducting business.

Does Utah require a business license?

All businesses in Utah are required by law to register with the Utah Department of Commerce either as a “DBA” (Doing Business As), corporation, limited liability company or limited partnership. Businesses are also required to obtain a business license from the city or county in which they are located.