Introduction
If you are planning to start a business in Utah, one of the first and most important steps is to file the Articles of Incorporation with the Utah Division of Corporations and Commercial Code (DCCC). The Articles of Incorporation legally establish your business as a corporation, defining its purpose, structure, and ownership. This article will guide you through the process of filing Utah Articles of Incorporation.
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Step 1: Research and Planning
Before diving into the paperwork, take some time to research and plan your corporation's structure and requirements. Consider the following:
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1. Business Name: Choose a unique name for your corporation. Ensure it complies with Utah's naming rules and is not already registered by checking the DCCC's online business name database.
2. Registered Agent: Appoint a registered agent who will receive legal documents and official correspondence on behalf of your corporation. The registered agent must have a physical address in Utah.
3. Articles of Incorporation Content: Familiarize yourself with the required information in the Articles of Incorporation, such as corporation name, registered agent, purpose, stock shares, and initial directors' names and addresses.
Step 2: Forming the Articles of Incorporation
To file the Articles of Incorporation, follow these steps:
1. Download the Form: Visit the DCCC website and download the Form NPW-1007 (Articles of Incorporation). You can find this form under "Forms and Publications."
2. Fill in the Form: Open the downloaded form and fill in the required information, including:
- Entity Name: Enter your proposed corporation's name (e.g., XYZ Corporation, Inc.)
- Entity Type: Choose "Domestic Profit Corporation" if your business will operate solely in Utah.
- Duration of Entity: Select the duration of your corporation (most commonly, "Perpetual").
- Registered Agent Name and Address: Fill in the name and physical address of your registered agent in Utah.
- Principal Office Address: Provide the street, city, state, and zip code of your corporation's principal office address in Utah.
- Directors' Names and Addresses: List the names and addresses of your corporation's initial directors.
- Purpose: Briefly describe the nature of your corporation's business activities and purpose.
- Stock Shares and Par Value: Describe your corporation's stock structure. If you plan to have different classes of stock, specify the number of shares for each class and their par value.
- Incorporators' Details: Enter the full names, addresses, and signatures of the incorporators. Incorporators can be individuals or entities responsible for filing the Articles of Incorporation.
3. Review and Proofread: Double-check all the information you've provided for accuracy and legibility.
Step 3: Paying Fees and Submitting the Application
1. Filing Fees: In Utah, the filing fee for Articles of Incorporation is $70. Attach a check or money order payable to the "Utah Department of Commerce" to cover the filing fee.
2. Date and Signature: At the bottom of the form, enter the date and provide a signature as the incorporator. The date should be the date of signing.
3. Make Copies: Make a copy of the completed form and all attachments for your records.
4. Mailing Address: Mail the original and one copy of the completed Articles of Incorporation along with the filing fee to:
Utah Division of Corporations
PO Box 146705
Salt Lake City, UT 84114-6705
Alternatively, you can physically deliver the documents to:
Utah Division of Corporations
160 East 300 South, 2nd Floor
Salt Lake City, UT 84111
Step 4: Processing and Confirmation
Once your documents are received, reviewed, and approved by the DCCC, you will be sent a confirmation of filing. This confirmation will have your corporation's official state identification number and other important details.
Conclusion
Filing the Articles of Incorporation is a crucial step towards establishing your corporation's legal existence in Utah. By carefully following these steps and paying attention to detail, you can ensure a smooth and efficient filing process. Remember to consult with legal or tax professionals if you have any specific concerns related to your business's unique circumstances or the laws governing incorporations in Utah. Good luck with the formation of your Utah corporation!
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