To register your business name in Utah, you must first register your business with the state. You can form a corporation or LLC or apply for the title through “doing business as” with the state’s business division.
Once you know what you want for your business, starting with the business registration is time. You must follow each step to avoid delays or rejection of the application.
Steps to registering a business in Utah
To become a small business owner, you can opt for a sole proprietorship, general partnerships, a limited liability company, or a corporation. There are a few basic steps to follow for your registration:
Determine the structure of your business
Before you begin, you must know the legal entity structure of your business. It is good to talk to your accountant or lawyer to make the best decisions; experts will be able to advise you so that you do not omit any details related to ownership, management, liabilities, and tax benefits.
You can choose between the structures mentioned above, i.e., a sole proprietorship, partnership, limited partnership, limited liability company, or corporation.
Start choosing the name of your company
When you have the structure of your startup, it is time to decide on a name; you must distinguish it correctly from other business names already registered in the state.
Through the Utah company name search database on the official Secure Utah website, you can check if the chosen name is not used by anyone else. In addition, it must meet some conditions; for example, companies must have the word “corporation,” “ltd.”, “limited“, “incorporated“, “partnership” or “LP“.
If necessary, reserve the name
If you are not ready to start with Utah business registration, you must reserve the name; you can do so for 120 days, after which time you must pay a $22 fee for new filings or renewals.
Identify your registered business agent
It will be a person, foreign or domestic entity that will serve as an agent for service of process for the entity. Must be registered with the Division of Corporations as a Registered Commercial Agent.
Submit the training form
When you ensure all of the above steps are complete, it is time to submit the formation forms to the Utah Department of Licensing and Regulatory Affairs. If you are unfamiliar with this, you can request a sample or review form from the State of Utah.
If you wish to register a for-profit corporation, you must file the Articles of Incorporation application, with which you must pay a $70 fee. The same amount will be for businesses registering as LLCs in Utah.
How much would be the total amount for registering a business in Utah?
As you have observed, depending on the business you want, you will have to pay different fees. It is essential to be clear that annually you must do the reporting for your entity, which also has a filing fee.
Establishing a total price for business registration is impossible because the fees change according to the type of business and the filing you do. Furthermore, it is best to consult your lawyer to have accurate answers and opt for the best solutions.