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Instructions for Certificate of Organization (Low-Profit Limited Liability Company) - Utah
This document was released by Utah Department of Commerce and contains official instructions for Certificate of Organization (Low-Profit Limited Liability Company) . The up-to-date fillable form is available for download through this link.
FAQ
Q: What is a Certificate of Organization?
A: A Certificate of Organization is a legal document that creates a low-profit limited liability company (LLC) in the state of Utah.
Q: What is a low-profit limited liability company?
A: A low-profit limited liability company, or L3C, is a specific type of LLC that has a primary charitable or educational purpose.
Q: How do I file a Certificate of Organization?
A: To file a Certificate of Organization, you need to complete the required form and submit it to the Utah Division of Corporations and Commercial Code.
Q: What information is required in the Certificate of Organization?
A: The Certificate of Organization requires information such as the LLC's name, purpose, principal office address, registered agent, and organizer's name and address.
Q: How much does it cost to file a Certificate of Organization in Utah?
A: The filing fee for a Certificate of Organization in Utah is $70.
Q: How long does it take to process a Certificate of Organization?
A: The processing time for a Certificate of Organization in Utah is typically 5-10 business days.
Q: Do I need to have an operating agreement for my L3C?
A: While not required by law, it is recommended to have an operating agreement that outlines the management and operation of the L3C.
Q: Can a foreign LLC form an L3C in Utah?
A: Yes, a foreign LLC can form an L3C in Utah by filing a Certificate of Authority with the Utah Division of Corporations and Commercial Code.
Q: What are the benefits of forming an L3C?
A: Forming an L3C can provide certain tax advantages and allow your organization to attract investments from foundations and other philanthropic entities.
Q: Can an L3C convert to a regular LLC?
A: Yes, an L3C can convert to a regular LLC by filing a Certificate of Conversion with the Utah Division of Corporations and Commercial Code.
Instruction Details:
- This 1-page document is available for download in PDF;
- Actual and applicable for the current year;
- Complete, printable, and free.
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