Form a Business In Utah

Forming a Limited Liability Company (LLC) in Utah is easy with LawyerPrepared.  Because we are lawyers you can be certain your LLC will be created correctly.

LLC (no EIN) – Forming an LLC without an EIN is generally ideal for single-owner businesses that don’t mind regularly disclosing their social security number. We rarely recommend this option.
Approximately 5% of clients choose LLC (no EIN)

LLC (with EIN) – Forming an LLC with an EIN is generally ideal for most businesses. An EIN is required if it has employees. We almost always recommend that our clients get an EIN.
Approximately 90% of clients choose LLC (with EIN)

S-CORP – Forming an S-CORP is generally ideal for businesses that are engaged in a service or trade and regularly earn more than $100,000 per year from the business. The primary advantage of an S-CORP is saving money on employment taxes. The primary disadvantage is higher administrative costs.
Approximately 5% of clients choose (S-Corp)

C-CORP – This is ideal for a company that is preparing to go public or has investors that prefer corporations. Typically, if you need a C-CORP, we recommend additional legal consultation.
Less than 1% of clients choose C-Corp

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Frequently Asked Questions

Why should I have an EIN?
An EIN is short for an Employee Identification Number and acts as your businesses Social Security Number. If your entity has more than one owner or any employees, the IRS requires that you have an EIN. Nearly all banks require EIN’s for business bank accounts. An EIN also has privacy benefits for owners because it allows owners to use the EIN rather than personal social security numbers for credit applications, bank accounts, and IRS 1099 forms.

What happens if I choose the wrong type of entity?
Every state allows changes of business entity. There may be tax consequences for changes.

Should I reserve a name for my entity?
Please leave that to us. We will ask for your preferred entity name and we will make sure it is available. If it isn’t, we’ll let you know and try some other names. If you try to reserve the name for yourself, it will delay the process of forming your entity substantially.

What is the difference between an LLC, an S-Corp, and a C-Corp?

 
What is a DBA and When is it Used? 

A. You should set up a DBA if: 1) you are a sole proprietor operating a business that doesn’t contain your own name, or 2) you formed an LLC and plan to use a name that varies from your LLC/Corporation paperwork. DBAs are preferred because they are the easiest and least expensive way to use a business name (no LLC formation required) and you can operate multiple businesses without having to form multiple corporations. A DBA may also be required in order to open a bank account and receive payments in the name of the business. A new entity must be set up when the structure of the current entity changes (e.g. sole owner to partnership) or when specific changes occur within the business structure. If the structure hasn’t changed and you want to vary the name of your business, you may want to set up a DBA (Doing Business As).