{"id":3476,"date":"2016-05-04T09:31:15","date_gmt":"2016-05-04T16:31:15","guid":{"rendered":"http:\/\/evergreensmallbusiness.com\/?page_id=3476"},"modified":"2019-07-01T15:19:11","modified_gmt":"2019-07-01T22:19:11","slug":"setting-up-a-utah-s-corporation","status":"publish","type":"page","link":"https:\/\/evergreensmallbusiness.com\/s-corporation-kits-for-all-fifty-states\/setting-up-a-utah-s-corporation\/","title":{"rendered":"Setting up a Utah S Corporation"},"content":{"rendered":"

\"utah\"<\/a>If you are a Utah entrepreneur or business owner running a profitable small business, you should consider electing to operate as a Utah S Corporation.<\/p>\n

The good news? Operating as an S corporation isn’t difficult. But in order to do this, you must be set up either a Utah LLC or Utah corporation.<\/p>\n

Which is where our Utah S corporation kits come in… Our kits walk you through the steps for setting up the required Utah entity, getting an employer identification number (EIN), and the making the Subchapter S election by preparing and filing Form 2553 with the Internal Revenue Service..<\/p>\n

This tax treatment allows you to noticeably reduce your self-employment tax burden, which for an incorporated business runs approximately 15% on the first $130,000 of your businesses income, and potentially an additional 3-4% on profits that exceed $130,000.<\/p>\n

Note:<\/strong> The annual savings from an S corporation can easily run $10,000 per shareholder per year…<\/p>\n

Our Utah\u00a0S Corporation kit<\/h2>\n

At this point you may be asking, “Which kit should I go with?” If you are, we recommend you go with the LLC option. Though you can use either an LLC or a corporation as the foundation for an S corporation, there are generally fewer requirements and less “red tape” with a limited liability company “platform” than with a traditional “corporation” platform. Plus, LLCs provide some additional tax flexibility and can be treated as a sole proprietorship or partnership prior to making the s-election.\u00a0This can really be useful if you are unsure of your profits for the first year in business.<\/p>\n

As a bonus, we include entity governing documents, so the corporation kit has bylaws and the limited liability kit contains single and multi-member operating agreements.<\/p>\n

Available below is the LLC version of the kit:<\/p>\n