A Certificate of Formation is a document that must be filed before doing business in Utah, according to the Utah Division of Corporations & Commercial Code. If you are operating a business within Utah, it is necessary to obtain one. You do not need a COE if you are simply transacting business with another person or entity located outside of Utah.
The COE is valid for five years. After that period expires, you must file a renewal application. There is no fee for filing a COE. However, there is a $50 annual renewal fee.
To obtain a COE, you must submit an application form along with a check for $100 payable to the Utah Division of Corporationships & Commercial Code. The application includes information about the name of the applicant, the address where the business is operated, and the type of business being conducted.
You must provide proof that the business exists. For example, you could include copies of documents such as articles of incorporation, federal tax returns, bank statements, invoices, contracts, etc.
If you fail to comply with the requirements set forth in the code, you can face penalties or fines. In addition, you cannot renew your COE without paying the $50 renewal fee.
What is proven by a Certificate of Existence?
A Certificate of Existence confirms an organization exists legally. This document verifies that an entity meets the requirements set forth by state law. In addition, it provides proof that the organization has been operating since January 1, 2013. The certificate is filed with the Secretary of State’s Office and serves as evidence that the organization is authorized to transact business within the state.
An organization must file a Certificate Of Existence if it wants a Utah bank account. If you are opening a bank account in Utah, you must submit a Certificate of Existence to the bank. You cannot open a bank account without one.
You must file a Certificate of Registration if you want to do business in Utah. If you plan to start a business in Utah, you must register with the state. To register, you must complete Form UT-1, Application For Business Entity Registration. Once registered, you must file a Certificate of Incorporation with the Secretary of State.
What could cause a company to require a Utah Certificate of Existence?
A COE is required by law for most businesses. This document provides proof of existence and ownership, and helps protect the owner against lawsuits. In addition to helping with legal issues, having a COE can help you avoid paying sales tax.
The requirements for obtaining a COE vary depending on the type of business entity you are operating. For example, sole proprietorships require no filing fees, while corporations must pay $100. There are additional filing fees for limited liability companies, partnerships, and nonprofit organizations. You can find out what paperwork is needed by contacting the Secretary of State’s office.
A Utah COE is an essential form that must be filed with the Secretary of State’s office within 30 days of opening a business. This form gives you legal authority to do business in the state of Utah and helps protect you against potential fines or other penalties if it is discovered that you are operating without proper authorization.
If you are planning to start a business in another state, you’ll need to check whether that state requires a COE. If it does, you’ll need to file one in the state of operation before starting up shop. Otherwise, you won’t need to worry about getting a COE because you’ll already be authorized to do business in that state.
In some states, such as California, there is no requirement for obtaining a COE. However, if you plan to open a business in California, you’ll still need to obtain a COE even though there is no requirement. You’ll need to make sure that you’ve obtained a COE before beginning operations.
6. Take the certificate to the county recorder’s office.
7. Have proof of residency (driver’s license) ready.
8. Bring the certificate back to the county recorder’s department.
9. Make sure you get a copy of the certificate.
10. If you want to change your name, do it before getting the certificate.
11. Once you’ve gotten your certificate, you’ll need to renew it yearly.
12. To renew, go to the county recorder’s website and pay the renewal fee.
13. Print off the certificate again.
14. Go to the county recorder’s offices and show them your renewed certificate.
Frequently Asked Questions
What is a Certificate of Organization?
A Certificate of Organization, also called an LLC certificate or Articles Of Organization in some states, are documents filed with the Secretary of State to form an LLC. Each state has different requirements for filing the document, including whether it must be filed online, the fee required, and how long the document takes to process. Some states require you to file the document within five days of forming the LLC. Others don’t even allow the LLC to exist without a Certificate of Organization.
Can I reserve a business name in Utah?
Yes. You can file an application to reserve a business name in the state of Utah. This process allows you to protect your company name for up 120 days. However, it does come with a cost. In addition to the $22 filing fee, you must pay a $100 reservation fee per month while your application is pending.
The deadline to apply for a reservation varies depending on the type of business entity. For example, if you are applying for a limited liability company, the deadline is 90 days. If you are applying for a corporation, the deadline is 60 days.
Do I need an EIN for my Utah LLC?
Utah law requires every person conducting business in the state to obtain a federal Employer Identification Number (EIN). This includes individuals, sole proprietorships, partnerships, corporations, limited liability companies, trusts, estates, and government entities. In fact, it applies even if you are just starting out and don’t plan to do much business in Utah. You must apply for an EIN within 30 days of forming your Utah LLC. If you fail to file, you could face penalties and fines.
However, there are some exceptions. For example, if you are a nonprofit organization, you don’t need an EIN. And if you are a contractor working under contract with a larger entity such as a school district, you don’t need one either. Additionally, if you’re a member of a religious organization, you don’t have to register as a nonprofit. But if you want to run for political office, you’ll need an EIN.
In addition to filing forms with the IRS, you must submit copies of your articles of incorporation or operating agreement to the Secretary of State’s Office. You must include the following information in your application: name, address, principal place of business, date formed, purpose, members, officers, directors, managers, shareholders, type of business, and whether the LLC has filed a report with the Securities Division. Once you’ve completed the application, you’ll receive an acknowledgment letter directing you to pay $25.00 for the EIN.
What is LLC membership interest?
Membership interest represents your percentage of the ownership in the limited liability company (LLC). Typically, a membership interest is tied to each member’s initial investment into the company. Let’s use our previous example, where you invested $7,000, and your partner invested $3,000. If we look at the LLC agreement, you will own 60% of the company, and your partner will own 40%. This means you will have voting power over 60% of the votes in the company, while your partner has 20%.
James Rourke is a business and legal writer. He has written extensively on subjects such as contract law, company law, and intellectual property. His work has been featured in publications such as The Times, The Guardian, and Forbes. When he’s not writing, James enjoys spending time with his family and playing golf.
