Utah boasts a talented workforce and a growing population making it ideal for new businesses. If you’re ready to form a limited liability company (LLC) in the Beehive State, look no further. This guide has all the important steps you need to take to register an LLC in Utah.
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Utah LLC Quick Facts
- To register an LLC in Utah, you must file a Certificate of Organization.
- The filing fee to start an LLC in Utah is $54.
- To maintain your Utah LLC, you must file an Annual Report.
- All LLCs in Utah must have a registered agent.
6 Steps to Registering an LLC in Utah
Follow these six steps to register your LLC in Utah.
Ready to start your Utah LLC? Simply follow these six steps:
- Name Your Utah LLC
- Appoint a Registered Agent
- File a Certificate of Organization
- Create an Operating Agreement
- Obtain an EIN and Handle Taxes
- File a Beneficial Ownership Information Report
Step 1: Name Your Utah LLC
The first step toward starting your business in Utah is choosing an LLC name.
There are a few LLC naming rules you’ll need to follow, including:
- The name must include Limited Liability Company, LLC, or Limited Company
- The name must be unique and distinguishable from any other business entity in the state
- The name cannot include terms that imply government affiliation or falsify your business’s purpose
For the full list of naming guidelines, review the state’s list of business name conventions and policies.
To ensure that your chosen business name is available and meets all the requirements, you will need to conduct a name search on the Utah Division of Corporations and Commercial Code website.
Make sure your matching domain is available before settling on an LLC name. Visit GoDaddy today.
Step 2: Appoint a Registered Agent
Every LLC is required to appoint a registered agent in Utah. A registered agent in Utah is an individual or business entity that is responsible for receiving important information and legal documents such as notice of lawsuits and tax forms on behalf of your company.
A registered agent in Utah must meet the following requirements:
- Must have a physical street address in the state
- Must be available during normal business hours to accept important documents
- Cannot be the LLC itself, but can be an employee or owner of the LLC
Who is Eligible to Serve as a Registered Agent in Utah?
A registered agent can be the LLC owner, an employee of the company, a friend, family member, or a registered agent service.
Step 3: File a Certificate of Organization
To formally register your LLC with the state, you need to file a Certificate of Organization with the State of Utah. You can do this online or by submitting this form by mail.
The filing fee is $54.
Make sure to have the following details prepared before filing:
- Your LLC’s name and address
- The name and address of the registered agent for service of process
- The names and addresses of all LLC members or managers
- The duration of your LLC
Quick Note: If your LLC is already established in another state you will need to register as a foreign LLC in Utah. To do so, file a Foreign Registration Statement online or by mail alongside a $54 filing fee.
Step 4: Create an Operating Agreement
Creating an LLC Operating Agreement is not required by the state. However, it is still good practice to have one.
This document will outline the internal procedures and ownership details of your company, ensuring that all members are in alignment and helping prevent future conflicts.
Step 5: Obtain an EIN and Handle Taxes
In order to successfully register an LLC in Utah, it is important to obtain an Employer Identification Number (EIN) from the Internal Revenue Service (IRS). This unique number is essential for tax reporting, hiring employees, and opening a business bank account.
You can easily obtain your EIN for free on the IRS website.
Additionally, it is crucial to understand and fulfill any tax obligations your LLC may have. You can do so by visiting the Utah State Tax Commission website for more information on state tax requirements and regulations.
Step 6: File a Beneficial Ownership Information Report
LLCs in Utah are required to submit Beneficial Ownership Information (BOI) to the US Financial Crimes Enforcement Network (FinCEN).
New LLCs must file this report within 90 days of formation, while existing LLCs must complete the filing between January 1st, 2024, and January 1st, 2025 to avoid a $500 per day fine.
The filing can be done online for free on the FinCEN website, and information on exemptions can be found on their website as well.
Next Steps
- Open a business bank account to separate and protect your personal assets. With Lili Banking and Accounting Services, you can open your LLC’s business bank account in just minutes.
Lili is a financial technology company, not a bank. Banking services provided by Sunrise Banks N.A., Member FDIC.
- Apply for any licenses and permits that may be required federally or by the state. Make sure to research the specific regulations and requirements for your industry. Visit the Division of Corporations and Commercial Code’s website for more information.
- File an Annual Report with the Utah Secretary of State online to maintain your LLC’s good standing and avoid fines. The filing fee is $18.
- Obtain business insurance to protect your LLC from unexpected events. We recommend NEXT Insurance for fast, affordable business insurance.
Additional Tips for Success
- Build a strong network: Connecting with other entrepreneurs, mentors, and industry leaders can provide valuable support and networking opportunities for your business.
- Keep track of compliance requirements: Stay informed about Utah’s reporting and fee requirements to ensure your LLC remains in good standing with the state.
- Plan for the future: Develop a clear vision and goals for your LLC to help guide its growth and success in the long term.
Conclusion
Utah is a great state to register your LLC due to its business-friendly environment. By following these steps diligently and paying attention to the requirements, you can successfully register your LLC in Utah and set your business up for success.
