Utah (USA)

Utah (USA)

* State beneficiary registries are open

Utah is located in the western United States. This is the 13th largest and 30th largest state population. A developed infrastructure mainly characterizes in Watchak and Washington County. Utah borders on New Mexico, Colorado, Arizona, Wyoming, Idaho and Nevada. The main administrative unit is Salt Lake City.

Opening a business in Utah is a promising solution, because this jurisdiction is characterized by the dynamic development of the economy, which is based on the globalization of business processes, the development of entrepreneurship, information technology, knowledge. 5 years ago, Utah led the Forbes Top Businesses List.

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This staff is a leader in the development of innovative management, logistics, research, government support, training programs, and the open-air tourism center.

Setting up a commercial firm in Utah is promising, in terms of favorable conditions. So, in 2014 this jurisdiction according to the above indicator, occupied the top of the rating based on data from more than 12 thousand firms.

Utah’s taxes

It is sufficient to profitably register a company in Utah, because this is the state with one of the lowest corporate taxes (4,95%), compared with Iowa, Alaska, Illinois, Pennsylvania, Minnesota and New Jersey, where this rate is 12%.

An income tax for individuals is 5%.

A sales tax is 6,94%.

A federal tax is 21%.

Sales, as well as property taxes, are subject to additional local duties, which vary by jurisdiction. Utah does not levy taxes on the intangible property, the inheritance.

To open a business in the USA is possible, if there is at least 1 shareholder and 1 director (of any nationality, a legal entity or an individual), you just have to open an account in America banks, to register a unique trade name in Utah (at the end of which a legal form is indicated: PLC, FZ LLC, SP, LLP, S-Corp, C-Corp, LLC, RO). The most common in the state is Bank of Utah, we can also provide advice on opening an account with First Utah Bank, Bank of American Fork, Central Bank, Capital Community Bank. If you need professional aid in opening a corporate account in Utah remotely or with a personal visit, contact YB Case specialists for advice on this issue. Our specialists will provide you with support in obtaining business license in the United States, as well as advice on paperwork and full support in opening a business in America.

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