State Information

Utah

Selecting the Utah Corporation or LLC Name

Keep in mind as you select a name for your corporation filed under Utah law that the name will be unique and will identify you as a separate entity transacting business in the state. The name of a corporation must end with “Incorporated,” “Corporation,” “Corp” or “Inc.”. When developing a name for a limited liability company, remember that it must end with “Limited Liability Company” or “LLC”.

As the name of your business will be identifying your corporation or limited liability company as a unique entity, the name will not be accepted if it is likely to mislead the public or if it too closely resembles the name of another corporation or LLC formed in Utah.

Do not use any type of punctuation marks when choosing a name such as dashes, periods or commas in name selection.

Selecting a Board of Directors

A corporation formed within the state of Utah can have several members that serve as director but is only required to have one if there is only one shareholder. If there is more than one shareholder for the company, there must be a corresponding director for each shareholder up to a minimum of three. Since the board is responsible for managing the corporation and its activities, it is suggested that the board be comprised of individuals that are officers or shareholders who have some type of day to day involvement with the corporation. Utah requires a director to be at least 18 years of age.

Utah Taxes

Utah based corporations are expected to file the Utah Corporation Franchise/Income Tax Return, Form TC-20 or TC-20S annually, whether a “C” or “S” Corporation. The amount of tax is dependent on a number of factors and the minimum tax is $100.00.

A Utah based LLC is required to file as either a corporation or a partnership dependent on the election made on the SS-4. Utah maintains an individual income tax so employers are expected to withhold state income tax. Utah maintains a general sales and use tax of 4.75% with counties being able to impose additional amounts.

Registered Agent

The registered agent must have a physical street address within Utah state. PO boxes are not acceptable, within Utah.

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