July 8, 2022
Starting July 1, 2022, the Division of Corporations and Commercial Code and the Division of Securities will start using a new fee schedule for certain filings and investor licensing. The change is the result of a study that started last year to look at what the department was charging in comparison to the service customers were receiving. The result showed that there was an opportunity to lower certain fees and pass the cost savings on to businesses and investors.
The department sent out a news release in June announcing the change. In it, Margaret said, “The Department of Commerce is committed to finding ways to make doing business in Utah easier while providing a high level of service.” .
Commerce’s executive and division leadership worked closely with Governor Cox and the Office of Planning and Budget on the fee reduction issue. The legislature approved the new fee schedule this past legislative session through the passing of HB 8.
This effort is great example of looking for innovative ways to do business. Sometimes organizations get in a mindset of “if it ain’t broke, don’t fix it.” While that can be applied in many situations, employees should be open minded about the task at hand and see if there is a better way of doing things.
Below is the new fee structure
Effective July 1, 2022, the Division of Securities will assess the following new licensing and filing fees:
| Agent | $40 |
| Broker/Dealer | $130 |
| Investment Advisor | $40 |
| Investment Advisor Representative | $30 |
| Federal Covered Adviser | $70 |
Effective July 1, 2022, the Division of Corporations and Commercial Code will assess the following new filing fees:
| Articles of Incorporation | |
| Domestic Profit | $54 |
| Foreign Profit | $54 |
| Certificate of Organization/Qualification | |
| Limited Liability Company | $54 |
| Annual Report | |
| Profit | $13 |
| Limited Partnership | $13 |
| Limited Liability Company | $13 |
| Other Foreign/Domestic | $13 |
| Change Form | $13 |
| Reinstatement | |
| Profit | $54 |
| Limited Partnership | $54 |
| Limited Liability Company | $54 |
| DBA | |
| Registration | $22 |
| Renewal | $13 |
| Business/Real Estate Investment Trust | $22 |