LLC and Corporate Formations
After you have your big idea and your business plan is in place, it's time to focus on how your business will be structured. What are the advantages and disadvantages of limited liable companies (LLCs) and corporations? Which should you choose? We actually offer free consultations to help you make that decision. If in doubt, we usually recommend an LLC, but there can be reasons for choosing a different entity. That's why it's important for us to know you, your goals and your vision for the business.
To initiate a corporation or LLC, a simple document needs to be filed with the Utah Division of Corporations & Commercial Code. The process is simple. That document (the "Articles of Incorporation" or the "Certificate of Organization") can be prepared in minutes and filed the same day. The standard time to receive approval is about two weeks, but if they are hand-delivered and an extra fee is paid to the Division, it can be approved within a couple days.
So, filing the initial paperwork is usually quite simple. Preparing the supporting documents (bylaws or an operating agreement) might be more complex depending on the needs of the company and its owners. We usually meet with clients once up front, take down the information we need, prepare the documents, then meet again as the client may need, or handle any follow-up through email.
After your business is formed, you will need to review and finalize the supporting documents and apply for an employer identification number (EIN). We offer these services all for a flat fee. In addition, a business needs to apply for a business license. Clients usually need to handle that on their own, in person.