This By-Laws document contains the following information: the name and location of the corporation, the shareholders, and the duties of the officers.
Company Bylaws For Llc In Utah
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Corporate bylaws are a company's foundational governing document. They lay out how things should run day-to-day and the processes for making important decisions. They serve as a legal contract between the corporation and its shareholders, directors, and officers and set the protocol for how the organization operates.
Utah state law does not require LLCs to adopt a written operating agreement. However, any good lawyer will recommend that you create a written operating agreement as one of the first actions of starting your Utah LLC.
What Are the Advantages of an LLC? Limited Personal Liability. Flexibility. Ability to Raise Capital. Tax Advantages. Low Filing Fees. Utah's Growing Economy.
Utah State Income Tax for Utah LLCs Single-Member LLCs in Utah: The LLC itself usually doesn't file a state-level return. However, the owner files a personal state-level return that includes the LLC's profits or losses. Multi-Member LLCs in Utah: The LLC itself may need to file a Partnership return at the state-level.
You only need to file your personal tax return (Federal Form 1040 and Utah Form TC-40) and include your LLC profits on the return. Multi-Member LLC taxed as a Partnership: Yes. Your LLC must file an IRS Form 1065 and a Utah Partnership Return (Form TC-65).
A registered agent is a person or entity that receives legal documents on behalf of a business, while an owner is responsible for making decisions about the business's operations and finances. A registered agent is a person or entity that is authorized to receive legal documents and notices on behalf of a business.
Per Utah Code § 16-7-15, registered agents are legally required in Utah. At a minimum, your registered agent must list a physical address on the public record and be present at that address during business hours.
