How To Obtain A Utah Business License For Your Company
If you are thinking of starting a business in Utah, and you are not sure what license you will need, you must first begin with understanding what you will be offering for sale. Is this going to be a service-oriented business? Perhaps you will be selling goods at your store or online. All these factors can contribute to determining what type of business license, if any, will be necessary for your company. Let’s discuss how you can determine what business license you will need, as well as why setting up an LLC in Utah for your company might be an ideal choice to provide you with extra protection.
How To Get A Business License In Utah For Your Business
There are several things that you can do in order to get a business license in the state of Utah. For example, if you are setting up a corporation, you could use the New Business and Regulatory License Form. There will be fees associated with the business license that you are obtaining. You also need to register a business, specifically with the Utah State Department of Commerce. On this form you will list the name of your business, and whether it is a partnership, sole proprietorship, or corporation. Likewise, you will then list if it will be an LLC if you are going to form one. At the very least, every single business in Utah needs to file what is called a DBA. All businesses must also register with the Utah Department of Commerce.
Why Would You Need An LLC?
Once you have obtained your business license and registered your company, you will then want to consider creating an LLC. This is a separate entity from your business, one that can act as a buffer from those that may try to attempt to get your personal assets. This will require you to fill out what is called a Certificate of Organization. You are going to send this to the Department of Commerce office. There is a filing fee involved, and once it is submitted, they will then approve your request so that your business can be protected.
What Must Be Done Prior To Filing For An LLC In Utah?
There are some preliminary steps that need to be taken. For example, you will need to first register the name of the LLC. It must be absolutely distinguishable from other companies, and you can search through the Utah business name database in order to determine if the name that you want is available. This database will search the Utah Department of Commerce, Division of Corporations, and Commercial Code to see if it is listed. If not, you can send in your Application for Reservation of Business Name directly to the Utah Division of Corporations.
This can be done either by mail or on their website. Another thing that you will need to do is appoint a registered agent. This business or individual will be responsible for accepting legal papers that will come in if you are being sued. The registered agent must either be a resident of Utah, or they may have the authorization to do business in the state, either of which will work perfectly for this purpose.
Filing Your Certificate Of Organization
Once you have done all of that, you will then need to file your Certificate of Organization. This will be sent to the Utah division of corporations. It will include the LLC name that you have registered, the principal office of the LLC and its address, and the name of the registered agent along with their physical address where mail can be received. In addition to this, they will ask for an organizer that is part of your limited liability company. You must also list the names and addresses of members and managers. You can also, though it is not required, list the duration of the LLC and its purpose. You will then file this on the Utah Online Business Registration website, or you can send it in by mail, along with the $70 filing fee.
Does It Take Long To Get This Approved?
In the state of Utah, like many others, there is a 4 to 6-week waiting time. It is one of the slower states in regard to processing LLC paperwork. You do have the option of Rush Processing which will cost extra, but you will be able to process everything in as little as two or three days.
This overview of how to get a business license in the state of Utah should be helpful. You also know how to get an LLC set up in this state as well. It is advantageous to have a limited liability company providing you with all of that extra protection so that your personal assets cannot be taken from you as a result of a civil lawsuit. If you would like to do this, you now know where to go, and what steps to take, but you may not have the time to complete every task. That’s why it may be beneficial to contact a business that can do this for you, as well as appoint a registered agent for your LLC at the same time.