Business Status Forfeited In Utah
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Provide written notification to the LLC of your intent to remove yourself. Receive what interest in the company you are due. (The other members are required to buy you out in line with the Articles of Organization and your share of ownership in the business.)
Dissociating from an LLC typically requires: Notifying the other members of the company. Determining how assets will be handled and/or distributed. Adhering to any existing withdrawal provisions established by the company.
Most management actions are protected from judicial scrutiny by the business judgement rule: absent bad faith, fraud, or breach of a fiduciary duty, the judgement of the managers of a corporation is conclusive.
You can find out if the name you want to use is available by doing a business name availability search , opens in a new tab . You may also contact our office to verify that the name you want to use is available.
You may reinstate a domestic (Utah) non-incorporated business, like an LLC or LP, offline by filing with our office the Application for Reinstatement . You may also need the Registration Information Change Form filled out with current information of the business entity.
When you remove a member from a Utah LLC, you must submit an LLC Registration Information Change form ($13) with the Utah Division of Corporations. You can file this form online, by mail, or by fax. By Fax: (801) 530-6438.
Separate Business and Personal Finances Establish your personal salary as the owner. Undercapitalization. Not Signing or Communicating in the LLC's Name. Personal Asset Protection from State to State. Obtain business insurance. Follow federal, state, and local laws. Use contracts to protect the LLC.
Dissolving Your LLC in Utah Step 1: Vote to dissolve the LLC. Step 2: Wind up all business affairs. Step 3: Notify creditors and settle debts. Step 4: Notify tax agencies and settle remaining taxes. Step 5: File a statement of dissolution with the State Department of Commerce.
In trademark infringement cases, courts look at whether consumers would be confused by two businesses that operate in the same industry. Essentially, if your name is likely to cause consumer confusion because it's the same or like another business name, then you cannot use that name.
