The Utah Statement of Withdrawal (Domestic LLC) is a document that is used to officially dissolve a limited liability company (LLC) in the state of Utah. The document is used to notify the Utah Department of Commerce of the dissolution of the LLC in order to legally terminate the entity. The Statement of Withdrawal must be signed and filed with the Department of Commerce. There are two types of Utah Statement of Withdrawal (Domestic LLC): voluntary and involuntary. A voluntary withdrawal is filed when the LLC members decide to dissolve the entity. An involuntary withdrawal is filed when the LLC has been administratively dissolved due to noncompliance with state regulations. Both types of Statement of Withdrawal must include the LLC's name, the date of the dissolution, and the signature of a member.
Utah Statement of Withdrawal (Domestic LLC)
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FAQ
The main difference between an LLC and a corporation is that an llc is owned by one or more individuals, and a corporation is owned by its shareholders. No matter which entity you choose, both entities offer big benefits to your business. Incorporating a business allows you to establish credibility and professionalism.
A limited liability company, or LLC, is a business entity that is formed under state law that combines characteristics of a corporation and a partnership. They are similar to corporations in that an LLC's members are not liable for the debts of the business, provided that certain formalities are observed.
A domestic LLC or corporation is a business that is formed within its home (domestic) state. Foreign qualification is when a legal entity conducts business in a state or jurisdiction other than the one in which it was originally formed. (It is not to be confused with being a business in a foreign country.)
A business is considered ?domestic? when it conducts business in the state it was formed. A business is considered ?foreign? when it originated in another state but would like to conduct business in Iowa.
What Is a Domestic Corporation? A domestic corporation is a company that conducts its affairs in its home country. A domestic business is often taxed differently than a non-domestic business and may be required to pay duties or fees on the products it imports.
Is an operating agreement required in Utah? Utah doesn't specifically require LLCs to enter into an operating agreement. However, in the absence of one, your LLC will be governed by the Utah Revised Uniform Limited Liability Company Act.
Submit a UT Registration Information Change form 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.
You can dissolve a Domestic Limited Liability Company in Utah by completing the Articles of Dissolution of Limited Liability Company form and delivering it to the Division of Corporations & Commercial Code by mail, fax or in person. If faxing the articles, include the Fax Cover Letter.