Create an S-Corporation in Utah

 Utah Requirements of Formation: A Federal Tax ID number (EIN) is required. To qualify for an S-Corp, the company must: Be a “domestic” corporation or organized in the United States or under federal or state law; Have only allowable shareholders: May be individuals, certain trusts, and estates; and May not be partnerships, corporations, or non-resident alien shareholders. Have no more than 35 shareholders; Have only one class of stock; and Not be an ineligible corporation (i.e. certain financial institutions, insurance companies, and domestic international sales corporations). All shareholders must consent to S corporation status. The company must file Form 2553, “Election by a Small Business Corporation,” to indicate it chooses S corporation status. To file Form 2553 with the Service Center of the Utah Department of Commerce, the applicant is charged a user fee of $150. We’ll file it for no additional charge. The only filing fee charged is $70 for the corporation’s formati