As of July 1, 2022, the fee to kind a Colorado LLC is simply $1. That is due to the implementation of the “Colorado Enterprise Price Reduction Act” (Home Invoice 22-1001).
In case you’re questioning what this implies for enterprise homeowners and entrepreneurs within the Centennial State, you’ve come to the suitable place. Hold studying to be taught all the things you’ll want to know in regards to the new Colorado LLC submitting charges. We’ll discover which filings are $1, how lengthy the brand new charges can be in impact, and something that’s new about beginning an LLC in Colorado.
Which Colorado filings at the moment are $1?
In line with the Colorado Enterprise Price Reduction Act, two particular filings at the moment are $1. They embrace new restricted legal responsibility firm (LLC) formation and commerce title registration. Meaning the next paperwork now value $1 to file:
- Articles of Group (Colorado LLC formation)
- Commerce Title Assertion (Colorado commerce title registration)
Beforehand, the Colorado state charge to file Articles of Group was $50, and the charge to file a Commerce Title Assertion was $20. The best way Home Invoice 22-1001 works is that filers will now obtain a credit score in opposition to every of those submitting charges of $49 and $19, respectively.
How lengthy will the brand new charges be in impact?
A press launch from the Colorado Secretary of State’s Workplace says the brand new charges will stay in place throughout Fiscal 12 months 2022-2023, or “till the quantity of the overall fund is exhausted.” The Division estimates this reduction will final till June 30, 2023.
Why was the Colorado Enterprise Price Reduction Act applied?
In line with Colorado Secretary of State, Jena Griswold, this reduction act was handed to assist and help Colorado enterprise homeowners throughout a tumultuous time.
“I’ll at all times work to chop prices and purple tape for Colorado companies which might be the spine of our communities. This charge reduction will preserve cash within the pockets of small enterprise homeowners, a lot of whom have confronted adversity and uncertainty over the previous couple of years,” mentioned Griswold.
Forming a Colorado LLC
Whereas the Colorado Articles of Group submitting charge is now $1 as an alternative of $50, the steps for forming an LLC within the state are nonetheless the identical as earlier than. To kind a Colorado LLC, you’ll have to:
- Title your LLC
- Appoint a registered agent
- File Articles of Group
- Create an working settlement
- Apply for an EIN
Study extra in regards to the prices related to creating an LLC in Colorado together with state charges
Registering a Commerce Title in Colorado
The identical is true for registering a commerce title in Colorado. Whereas the charge is now $1 as an alternative of $20, the method stays the identical.
If you wish to conduct enterprise below a unique moniker than your official firm title, you’ll have to register a commerce title. That is generally known as a “doing enterprise as” or “DBA” title in different states.
Examples of when a commerce title is likely to be used embrace:
- A enterprise with the official title “ABC Toys, LLC” needs to promote puzzles on-line as “ABC Puzzles”
- A enterprise with the official title “ABC Toys, LLC” needs to promote on Amazon as merely “ABC Toys”
- A enterprise with the official title “XYZ Electronics, Corp.” needs to promote MacBooks as “XYZ Macs”
To register a commerce title in Colorado, you’ll file a Commerce Title Assertion with the Secretary of State’s Workplace and pay your submitting charge (which is simply $1 for Fiscal 12 months 2022-2023). We will additionally deal with this for you.
We may help
Prepared to show your dream of beginning your individual enterprise right into a actuality? With Colorado LLC formation and commerce title registration charges at simply $1, there’s by no means been a greater time to start out a brand new enterprise within the Centennial State. However you’ll have to act shortly, because the Colorado Enterprise Price Reduction Act is just set to be in impact for Fiscal 12 months 2022-2023, or till the overall fund is exhausted.
If the considered attempting to observe all the principles to kind an official enterprise entity appears daunting, don’t stress. We’re right here that will help you by the whole course of. Allow us to reduce by the purple tape and deal with all the things from formation to compliance for you. Our crew of formation consultants can confirm what you are promoting title availability, put together your Articles of Group, coordinate submitting required authorized paperwork with the Secretary of State, and extra. Attain out to us right now!
Disclaimer: The content material on this web page is for informational functions solely, and doesn’t represent authorized, tax, or accounting recommendation. If in case you have particular questions on any of those subjects, search the counsel of a licensed skilled.