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What are the tax disadvantages of an LLC?

Tax Disadvantages of the LLC LLC members must pay taxes on their distributive share of the profit of the company, even if they have not received a distribution of those profits. Owners of a corporation do not pay taxes on profits unless they are distributed, usually in the form of dividends.

What does an LLC not protect you from?

Finding negligence and wrongful acts Issue: An LLC will not protect a member from liability for his or her own negligent or otherwise wrongful acts that cause injury to another, such as assault or fraud.

What are the benefits of an LLC in Utah?

Benefits of starting a Utah LLC: Create, manage, regulate, administer and stay in compliance easily. Easily file your taxes and discover potential advantages for tax treatment. Protect your personal assets from your business liability and debts. Low filing fee ($70)

How do I get a copy of my Utah business license?

If you need a physical Certified document or copy then you will need to order them in-house which can be done in person, in writing, or by fax. If you make a written request you may use our order form. Written requests for copies and/or certificates may take up to approximately 7-10 business days.

How do I set up an LLC in Utah?

Just follow these six steps, and youll be on your way. Name Your Utah LLC. Choose Your Registered Agent. Prepare and File Certificate of Organization. Receive a Certificate From the State. Create an Operating Agreement. Get an Employer Identification Number.

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