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Forming an LLC in Colorado
Forming an LLC in Colorado is quite easy. You can either do it yourself or hire an incorporation company to help you out with the details. Letting an attorney take a look at your Operating Agreement is not mandatory, but it is a good idea since a poorly written Operating Agreement can cause taxation problems.
Forming an LLC in Colorado in 5 easy steps
- The first thing to do when forming an LLC in Colorado is to come up with a name. Check that no other LLC is using the same name and make sure that the name does not violate any trademarks. In order to adhere to Colorado laws, you must include an LLC identifier in the name of your LLC. Examples of LLC identifiers are “LLC”, “L.L.C.”, “Limited Company”, “Ltd. Liability Co” and “Limited Liability Company”.
- The second step consists of filing the required Articles of Organization at the Colorado State filing office.
- During step three, you will arrange an organizational meeting where the members (owners) of the LLC adopt and Operating Agreement.
- The next step is to obtain a Federal Employer Identification Number (FEIN) for the LLC and open up a company bank account.
- The final step when forming an LLC in Colorado is to obtain local business licenses. You will need one license for each city/county that you plan on conducting business in.
Important facts to take into consideration before forming an LLC in Colorado
- The minimum LLC filing fee for Colorado is only $25.00. (For 30 business days.)
- When forming an LLC in Colorado, you agree to hand in an Annual Report each year. The annual report will always be due 60 days after the original filing date. In Colorado, you can hand in the annual report online. For online reports, the fee is only $10.00. If you instead hand in a paper report the old fashion way, the fee is $100.00.
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