HOW TO SET UP AN LLC IN THE STATE OF UTAH
Utah is a very friendly State toward businesses. To set up a limited liability Company in Utah you must do the following:
- Create and file a Certificate of Organization with the Utah Division of Corporations. If you’ve found this page, you are obviously researching this issue on the internet. You may find other web sites that call this Articles of Organization. Utah recently changed it’s limited liability company statute and renamed this document a certificate of organization. Under the new statute, it is substantially different than the old articles of organization.
- Create and sign an operating agreement. An operating agreement is a contract between the owners of the llc. The operating agreement should list how the profits and losses of the llc will be divided as well as contain other contractual provision that will bind the owners. The operating agreement is a private document for the use of the owners only. It need not be filed with the State.
- 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.
- 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 limited liability companies. Typically, we charge a flat fee for this type of service, thereby eliminating the anxiety that many clients feel when going to an attorney.