Utah Corporation

For Utah Corporation prices and State fees, please visit the costs page for forming a Corporation in Utah.

Utah corporation has an advantage over other business structures through a wider variety of fringe benefit plans. Owners of a corporation are not taxed on some benefits, such as group life, medical plans and reimbursed medical expenses, not to mention stock option, retirement and employee stock plans. corporation owners can also use corporations to increase tax flexibility and lower income brackets. Please consult your financial advisor on how this may apply to you.

All corporations and business entities filed with the Utah state office are subject to an annual filing of a statement of information, or annual report. This generally means a small filing fee is required. Utah corporation directors, officers and legal addresses are sent to the state office. corporation state offices generally allow for the filing of this report online, or you can call Companies Incorporated and have your statement filed for you, for a small service fee. This will ensure that your corporation is in good standing with the state office.

A corporation is a common form of business organization that is chartered by a state government. It is granted many legal rights as an entity separate from its owners. The corporation is distinguished by limiting the liability of its owners, issuing shares of stock that can be transferred from one individual to another, and its ability to have perpetual existence. Because a corporation is separate from its owners it can protect them from being personally liable when the company is sued (known as limited liability). In addition there are tax benefits available to incorporated businesses that are not available to unincorporated businesses.