Broadly, following is the process for dissolving a Utah LLC: Hold a meeting of members and pass a resolution to dissolve the company. File the annual and other required reports with the state agency. Pay off all the outstanding business debts of the company. Pay all the outstanding taxes and fees owed by the company.
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.
How to Reserve Step 1- Begin by downloading the Application for Reservation of Business Name . Step 2- Continue by supplying the following information: Step 3- The application can be filed by mail, fax, or in person. Utah Division of Corporations & Commercial Code. (801) 530-6438.
The State does have a “one-stop” online business registration site to help facilitate the process. The fee collected on the site is the filing fee for the Utah Department of Commerce, Division of Corporations and Commercial Code. That fee ranges from $22 to $52 and is non-refundable. The cost for incorporation is $70.
To start a Utah Limited Liability Company, you will need to file your Certificate of Organization with the State of Utah, which costs $70 . You can apply either by mail or online. The Certificate of Organization is the legal document that officially creates your Utah LLC.
Licensing Required for Running Business in Utah A Federal Tax ID Number – This is required for employers and corporations as well as partnerships, though sole proprietors may get one. A State Employer Number ID — Required for businesses with employees. You need a business license .
Start Your Own Business in Utah : Seven Steps You Need to Take Decide on a Legal Structure. The most common legal structures for a small business are: Choose a Name. Create Your Business Entity. Licenses and Permits. Business Location and Zoning. Taxes and Reporting. Insurance.
If the business truly abandoned its name , then anyone else can use it. However, the name might still be used by some entity (such as a successor or assign of the business ) as a trademark.
Time to process your corporation or LLC formation varies by state with routine processing taking 4 – 6 weeks or even more in the slowest states.
Of course, the answer depends on your business model and your chosen industry. However, a useful estimate based on a 2009 study conducted by the Ewing Marion Kauffman Foundation puts the average cost of starting a new business from scratch at just over $30,000.
i Business entities must engage in at least a minimum level of activity prior to being subject to having to register their businesses with the state. There is no clear standard of what constitutes ” doing ” or ” transacting ” business in Utah . Consequently, as the Utah Supreme Court stated in Marchant v.
Conduct market research. Market research will tell you if there’s an opportunity to turn your idea into a successful business . Write your business plan. Fund your business . Pick your business location. Choose a business structure. Choose your business name. Register your business . Get federal and state tax IDs.