2019 Lex Mundi Legal Guide to Doing Business
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Guide to Doing Business Utah Prepared by Lex Mundi member firm, Ray Quinney & Nebeker P.C. This guide is part of the Lex Mundi Guides to Doing Business series which provides general information about legal and business infrastructures in jurisdictions around the world. View the complete series at: www.lexmundi.com/GuidestoDoingBusiness. Lex Mundi is the world’s leading network of independent law firms with in-depth experience in 100+ countries. Through close collaboration, our member firms are able to offer their clients preferred access to more than 21,000 lawyers worldwide – a global resource of unmatched breadth and depth. Lex Mundi – the law firms that know your markets. www.lexmundi.com LEGAL GUIDE TO DOING BUSINESS IN — Prepared by the attorneys of Ray Quinney & Nebeker P.C. Copyright 2018 Ray Quinney & Nebeker P.C. All rights reserved DOING BUSINESS IN UTAH INTRODUCTION Ray Quinney & Nebeker P.C. is Utah’s exclusive member firm of Lex Mundi, the world’s leading network of independent law firms. Comprised of member firms in over 100 countries, Lex Mundi membership is the mark of excellence for legal services around the world. Our firm’s membership in Lex Mundi provides us with global reach and access to legal resources that enhance our ability to serve our clients’ needs around the world (www.lexmundi.com). This Guide to Doing Business in Utah was prepared by Ray Quinney & Nebeker, a Lex Mundi member firm, to provide general information on topics related to business, living and legal issues in Utah. RAY QUINNEY & NEBEKER P.C. Ray Quinney & Nebeker is a leading, full-service law firm, established in 1940. Our Firm has a long and vibrant history in Salt Lake City, and is widely known for its tradition of unity and stability. Ray Quinney & Nebeker distinguishes itself by its longevity, quality of client service, and loyalty in professional and personal relationships between clients and employees. Ray Quinney & Nebeker is recognized as one of the ‘preeminent’ law firms in the United States. We provide comprehensive legal services to individual and corporate clients in many industries and locations through our offices in Salt Lake City and Provo, Utah. OFFICE LOCATIONS SALT LAKE CITY, UTAH PROVO, UTAH 36 SOUTH STATE STREET, SUITE 1400 86 NORTH UNIVERSITY AVENUE, SUITE 430 SALT LAKE CITY, UTAH 84111 PROVO, UTAH 84601 TEL: (801) 532-1500 TEL: (801) 342-2400 FAX: (801) 532-7543 FAX: (801) 375-8379 www.rqn.com www.rqn.com Contact Justin Toth for more information on this Guide to Doing Business in Utah. NOTICE: The material contained in this Guide is for information purposes only. It is intended to provide basic information concerning issues of general interest and should not be construed to be legal opinion. Table of Contents BACKGROUND INFORMATION – UTAH ............................................................................... 1 OVERVIEW ........................................................................................................... 1 POPULATION ......................................................................................................... 1 CULTURAL/ETHNIC BACKGROUND.................................................................................... 1 CULTURE AND UTAH DIVERSITY ................................................................................... 1 LABOR MARKET ..................................................................................................... 1 INVESTMENT CLIMATE/BUSINESS INCENTIVES ..................................................................... 2 STATE OF UTAH INCENTIVES ...................................................................................... 2 UTAH FILM COMMISSION........................................................................................... 3 RURAL BUSINESS PROGRAMS AND INCENTIVES ................................................................. 3 UTAH LOCAL INCENTIVES .......................................................................................... 4 OTHER AVAILABLE INCENTIVES ................................................................................... 6 EXPORTS ................................................................................................................ 6 ARTS ....................................................................................................................7 GEOGRAPHY ............................................................................................................ 7 CLIMATE ................................................................................................................ 7 EDUCATION / TRANSPORTATION ..................................................................................... 8 EDUCATION .......................................................................................................... 8 HIGHER EDUCATION ................................................................................................ 8 PRIVATE EDUCATION ............................................................................................. 11 TRANSPORTATION.................................................................................................... 11 SPORTS & ENTERTAINMENT / RECREATION ....................................................................... 12 SPORTS & ENTERTAINMENT ...................................................................................... 12 MAJOR LEAGUE TEAMS ........................................................................................... 12 MINOR LEAGUE TEAMS ........................................................................................... 13 RECREATION ....................................................................................................... 13 BUSINESS ENTITIES ................................................................................................. 14 CORPORATIONS ................................................................................................... 14 PARTNERSHIPS .................................................................................................... 15 LIMITED LIABILITY COMPANY .................................................................................... 18 SOLE PROPRIETORSHIP ........................................................................................... 18 COOPERATIVES .................................................................................................... 18 BUSINESS TRUST ................................................................................................. 19 NONPROFIT CORPORATIONS ..................................................................................... 19 FOREIGN BUSINESS ENTITY ..................................................................................... 19 TRADE REGULATIONS ............................................................................................... 20 FEDERAL ANTITRUST LAW........................................................................................ 20 REGULATION OF INTERNATIONAL TRADE AND INVESTMENT .................................................. 21 STATE CONSIDERATIONS......................................................................................... 23 TAXATION ............................................................................................................. 26 FEDERAL TAXATION ............................................................................................... 26 STATE TAXATION.................................................................................................. 26 STATE TAX STRUCTURE SUMMARY TABLES .................................................................... 28 LABOR AND EMPLOYMENT ........................................................................................... 32 FEDERAL CONSIDERATIONS ...................................................................................... 32 FEDERAL LABOR AND EMPLOYMENT STATUTES................................................................. 34 EMPLOYEE BENEFITS .............................................................................................. 35 STATE CONSIDERATIONS......................................................................................... 37 UTAH LABOR AND EMPLOYMENT STATUTES .................................................................... 37 ENVIRONMENTAL LAW ............................................................................................... 40 FEDERAL ENVIRONMENTAL LAW ................................................................................. 40 DELEGATED FEDERAL PROGRAMS ............................................................................... 40 UTAH ENVIRONMENTAL QUALITY CODE AND THE DEQ ....................................................... 40 AIR QUALITY ...................................................................................................... 42 WATER QUALITY .................................................................................................. 42 SOLID AND HAZARDOUS WASTE ................................................................................ 43 UNDERGROUND PETROLEUM STORAGE TANKS ................................................................. 43 HAZARDOUS SUBSTANCE MITIGATION ......................................................................... 43 INTELLECTUAL PROPERTY LAW ..................................................................................... 44 FEDERAL LAW ....................................................................................................