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Colorado LLC Requirements

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Corporate Structures & Strategies

Considering starting a business in Colorado? We're happy to give you some pointers. Though there is a cost to forming a Colorado start-up, we think you'll achieve better results once you've become an official company. You'll enjoy the protections of an LLC, appear more professional, and have more resources at the tips of your fingers. Come on and see what you'll need to become an LLC!

Initial Filing Fees

The total amount charged by Colorado to file your Articles of Organization (the initial paperwork for your LLC) is, as of this writing, $50.00. This can be paid via credit or debit card only. Colorado accepts Visa, Mastercard, and American Express. If you do not have a credit card, you may pay the fee Colorado charges by purchasing pre-paid debit/credit cards for your use.

Annual Fees

Your state annual fees revolve around your periodic report. This is a legal requirement imposed by the state to keep them updated regarding the status of your LLC. You will be given the details of when the report is due upon the state accepting your LLC filing. Current fees for periodic report filing are $10 per filing period.

If you are late with your report, you may be charged up to a $50 late fee. Want to learn more? The Colorado Secretary of State is always willing to clear up any issues at 303-894-2200 or on their website. Periodic reports are filed online only.

Sales Tax

If you sell goods, you must collect sales tax and in order to collect sales tax, you must register with the Colorado Department of Revenue or your home rule city. There is no fee for setting up a sales tax collection account and it is a simple, quick process.

Permits

Permits differ based upon the business that you are conducting. After all, a children's daycare has no need for a pet license. We recommend researching what licenses and permits will be required before setting up your company. You should be able to learn about what is required on the official website for the city in which the business will be operated.

Additional Filings

Beyond these mentioned, additional filings may include any and all permits, insurance information, tax forms, and so many others. Without knowing your business and what it will do on a daily basis, it is difficult to state with certainty what it is that you need and what you don't. We strongly recommend speaking to a small business support organization or attorney as a starting place for these issues. Beyond the state, county, and city requirements, some of the more common types of filings you may encounter are as follows.

DBA

A DBA or "doing business as" filing establishes a pseudonym for your LLC. You may have registered as The Best Business LLC. Yet you would also like to put up a sign that says "Best Biz." Connecting Best Biz to your LLC is done via a DBA filing.

Article Amendment

Which brings us to amending your Articles. Something changes: someone leaves, a problem occurs, or you simply change the focus of your business from your original resolutions. You may need to amend your Articles with the State of Colorado. You can amend your Articles through the Colorado Secretary of State website.

EIN

Your Employer Identification Number can be obtained from the IRS for free. Simply visit the IRS website for further instruction and remember. You can also hire us to do the paperwork for you. We're always here if you need help and want an experienced partner to lend a hand.

Operating Agreement

There are dozens of templates for operating agreements on the internet. We also provide a customized, simple operating agreement to our clients at absolutely no cost to you. Feel free to use it as needed to clearly lay out the rules for your LLC. If you need a more complex agreement, you can contact our attorneys to customize a document for you through the contact link on our website.

Resolution to Open Bank Account

Opening your business bank account is one of the first big steps most companies take. Opening a bank account is completely free and should be one of the first things you do after you form you LLC. We provide our clients with a resolution to open a bank account document that can be given to banks to show you have the authority to open an account on the company's behalf. Without this document (and an operating agreement) the bank may prevent you from opening an account.

Organizational Minutes

Your first official business meeting, also known as an organizational meeting, should be written and placed in the official records of the company. In this meeting, you'll be looking over your Articles, as well as agreeing upon all the decisions made during the process of forming the company.