how to file an llc in colorado without a lawyer

How do you register a LLC in Colorado?

Feb 21, 2022 · The Limited Liability Company (LLC) is a popular business structure for many entrepreneurs starting a new LLC in Colorado. The LLC provides personal liability protection for the owners and has the potential to save money on taxes. With a little research, you can learn how to form an LLC in Colorado without an attorney.

How do you start a LLC in Colorado?

Feb 23, 2014 · Go to the Colorado Secretary of State Business Organizations website. Select “File a business document” under the “Search & File” heading. Then hit the “File a form to create a NEW record” link. Then under “LLCs, Corporations & Trade Names” select the “Limited liability company (LLC)” link. Step 2: Filling out the Articles of Organization (this is where people screw it up).

How to dissolve a LLC in Colorado?

Limited Liability Company (LLC) The fee for this form must be paid online using a credit card, debit card, or a prepaid account. We accept Visa, MasterCard, American Express, and Discover. Statutory references: 7-80-204, C.R.S. & 7-90-301, C.R.S. According to Colorado statute, this filing and any additional information included must be in English.

How to form a nonprofit corporation in Colorado?

Feb 28, 2022 · A Colorado LLC is a type of business structure formed by state law. It can be used to run a business, or it can be used to hold assets like real estate, boats, and planes. It can be formed by one person or by several people. An LLC with one owner is a …

What is required to form an LLC in Colorado?

Here's what you need to know to start an LLC in Colorado.See if your desired business name is available.Register with the Colorado Secretary of State.Secure your business record.Create an operating agreement.Apply for an EIN.Open a business bank account.Get a business license.Open a wage withholding account.More items...•Feb 8, 2019

Why do I need a lawyer for my LLC?

Using an attorney to prepare and file the required documents with the Secretary of State helps you avoid making mistakes when starting your LLC. The attorney can draft formation documents, such as the operating agreement, and any other necessary forms.

How much does it cost to register an LLC in the state of Colorado?

$50Initial Colorado LLC FeesState FeeState Filing TimeExpedited Filing Time$503 Weeks1 Business Day

How long does it take for an LLC to be approved in Colorado?

How long will it take to form my Colorado LLC? If you order the Basic or Standard package, we will file your paperwork with the Colorado Secretary of State within four to five business days and you'll receive your completed LLC documents one to two weeks later.

Do I need a registered agent for my LLC?

No matter where you're starting your business, if you're forming an LLC or corporation, you're required to have a registered agent and a registered office.May 17, 2019

What is better LLC or sole proprietorship?

A sole proprietorship is useful for small scale, low-profit and low-risk businesses. A sole proprietorship doesn't protect your personal assets. An LLC is the best choice for most small business owners because LLCs can protect your personal assets.

How is an LLC taxed in Colorado?

As LLCs are pass-through entities, the owners of the LLC will pay the flat Colorado income tax rate of 4.63% on the profits. This is different from corporation as it avoids double taxation because the LLC and the owners are considered a single legal entity.

How do I get an EIN number in Colorado?

The easiest and fastest way to apply for an EIN is to visit the Internal Revenue Service (IRS) website, between the hours of 7 am – 10 pm EST, Monday – Friday. The online application process only takes about 5 minutes to file the EIN online, and the number will be ready in seconds.May 22, 2021

Does Colorado require a registered agent?

Yes, you need a registered agent in Colorado. Every business is required by state law to appoint and maintain a Colorado registered agent. If your business is ever sued, or if the Secretary of State must send an official notification to your company, your registered agent will be contacted.

Can I use a PO Box for my LLC Colorado?

The state field will be pre-filled with “CO” since the registered agent must be located in Colorado. A city and ZIP code must also be provided. The street address must be a physical address and cannot be a post office box. A mailing address is optional.

How do you form an LLC?

How to form an LLCStep 1: Choose a state in which to form your LLC. ... Step 2: Choose a name for your LLC. ... Step 3: Choose a registered agent. ... Step 4: Prepare an LLC operating agreement. ... Step 5: File your LLC with your state.Step 6: Obtain an EIN. ... Step 7: Open a business bank account.More items...

What is my SOS ID number?

California has three identifying numbers for business returns: The California Corporation Number (CCN) is an eight-digit number beginning with the letter "C." In TaxAct, enter the seven digits after the letter "C." The Secretary of State (SOS) Number is a 12-digit number beginning with a "19" or a "20."

How long does it take to file an LLC in Colorado?

Literally, it takes ten, or fifteen, minutes to form an LLC, in Colorado.

What is LLC in Colorado?

A Colorado LLC, is a type of business structure, formed by state law. You can use an LLC to run a business, or you can use it to hold assets, like real estate, cars, boats, vehicles, anything.

What is the Colorado LLC tax rate?

A Colorado LLC pays its taxes at the Personal Net Income Rate of 4.6% (not at the Corporate Net Income Rate). You will need to file the Colorado Individual Income Tax Form 104 with the state by April 15th each year.

How long do you have to file an LLC report?

If you formed your LLC in June, June next year is your periodic month, and you can file the report in June two months prior, or two months after. You have a five month window.

What is LLC in real estate?

Typically, an LLC is the most flexible, and the most popular, structure for real estate investors. Again, the reason here is it builds a wall of protection between your personal assets, like your bank, your car. Your banks accounts, your home, your car, vehicles, et cetera, from that of the business.

Which is better, LLC or corporation?

An LLC is, usually, a better choice for the vast majority of people, because it offers the liability protection, without the complexity of management, or double taxation. Corporation, you have to have a board of directors, you have to elect corporate officers, you have to have shares.

When is the best time to start an LLC in Colorado?

Generally, any time of the year is the best time to form a Colorado LLC. For tax purposes however, we recommend you avoid forming your Colorado LLC in October, November, and December (if you don’t need your business open those months and can wait until January). It’s not a huge deal, but rather a helpful tip.

How to contact Denver LLC?

If you need Denver start up lawyers to helo with operations in Colorado, Contact experienced Denver LLC lawyers and law firm for a business startup, incorporating in Colorado or for immediate from a lawyer when forming an LLC in Colorado, Call Toll-Free 1-866-601-5518. Free Consultation.

What is the number to call for LLC litigation?

Business litigation and defense. For your business formation, consulting and litigation needs call one of our LLC lawyers for immediate help. Call 720-941-7200 for a FREE Initial Consultation.

Can a company be converted into an LLC?

Not every company can be converted into an LLC. Even if they could, you still want to make sure that your business vision meets the goals of the LLC statutes. Before finding a lawyer to set up LLC operations, you want to make sure that you are getting the best entity structure.

Do you need a registered agent for an LLC in Colorado?

Colorado LLC laws require you to have a registered agent. The public must know who the representative of the company is. They should not have to guess. For example, if you are being sued, then having a registered agent would be required if he or she is designated to accept service of process.

How to Close an LLC in Colorado

If you want to close your business, you are required to let the Colorado Secretary of State department know of your intentions to cease business activity by filing an Articles of Dissolution.

Is the Dissolved LLC Responsible for Tax and Reporting Obligations?

As previously mentioned, your LLC is immediately responsible for tax and reporting obligations as soon as the LLC is registered. In the event you decide to close your business and fail to file an Articles of Dissolution, you will continue to incur penalties, which will increase as time goes on.

What Is a Voluntary Dissolution?

A voluntary dissolution can only be accomplished if all members are in agreement. If all members are not in agreement to dissolve the LLC, it would require a judicial dissolution, which means you will need to bring and win a lawsuit. Another option is to resign from the LLC unless resigning violates the operating agreement.

What Is Notice of Dissolution?

While not required, an LLC may choose to provide evidence for notification with a publication of Notice of Dissolution. This may help in the event of creditors filing claims against the LLC once the business is dissolved and provides proof of notice to unknown claimants.

Do Registration Licenses Require Fiscal Obligations?

Keep in mind, registration license and any seller permits obtained in the state, region, county, or city may require fiscal obligations. These should all be canceled to avoid any penalties or reporting problems after the LLC's dissolution.

What Forms Are Needed to Dissolve the LLC?

The following forms may be needed to dissolve an LLC. You can contact a business lawyer to determine which forms you need to file.

Choosing a Name

The first step in forming an LLC is to decide on a business name. Your state's business agency will allow a search of currently registered names online. This process may also be available by phone or by a letter of inquiry to the appropriate department.

Articles of Organization

Next you file articles of organization, which give basic information about your limited liability company. The articles must include the names of all members, the business address and the date when the business was established. You also need to designate a registered agent who's authorized to accept legal papers.

Mailed and Online Registration

Your business registration involves mailing completed documents to the appropriate state agency and paying a filing fee. Most states, including Minnesota, allow the online e-filing of routine business documents and registrations. You may need to set up an online account and use templates provided by the state.

Tax Law and the Limited Liability Company

The Internal Revenue Service does not allow banks and insurance companies to operate as limited liability companies. It taxes the multimember LLC as a partnership, unless the members file Form 8832 and elect corporation status. An individual who operates an LLC as the sole member can elect to have the business taxed on his personal return.