HOW TO START A CORPORATION IN UTAH
Utah strives to attract business, large and small, to the State. For that reason, Utah has made it very easy to start a corporation in Utah. To set up a Corporation in Utah you must do the following:
- Create and file Articles of Incorporation with the Utah Division of Corporations.
- Hold an organization meeting. During the organization meeting, shares will be distributed to shareholders. The shareholders will then vote in a board of directors. The Board of Directors will then adopt several resolutions that will allow the corporation to begin doing business, including opening a bank account, hiring employees, etc. Bylaws will also be adopted by the Corporation at the organizational meeting. The bylaws will govern how the corporation is operated. Finally, corporate officers will be designated at the organizational meeting.
- Obtain an employer identification number. This number is issued by the IRS and acts a lot like a social security number. The business will need this number to open a bank account, hire employees, receive payments from certain businesses and to file a tax return. If the corporation wishes to be taxed under Subchapter S, this is a good time to file form 2553 with the IRS.
- Obtain a business license. A business license is issued by each city in which the business has a physical presence.
Our highly skilled Utah Business Attorneys have extensive experience in helping people set up corporations. Typically, we charge a flat fee for this type of service, thereby eliminating the anxiety that many clients feel when going to an attorney for the first time.