As of July 1, 2022, the cost to form a Colorado LLC is just $1. This is thanks to the implementation of the “Colorado Business enterprise Fee Aid Act” (Household Monthly bill 22-1001). 

If you’re wondering what this implies for business homeowners and entrepreneurs in the Centennial Point out, you’ve arrive to the correct position. Hold studying to learn every little thing you need to know about the new Colorado LLC submitting costs. We’ll check out which filings are $1, how extensive the new rates will be in effect, and something that is new about starting off an LLC in Colorado. 

Which Colorado filings are now $1? 

In accordance to the Colorado Small business Fee Relief Act, two unique filings are now $1. They involve new confined liability firm (LLC) formation and trade title registration. That usually means the subsequent paperwork now price tag $1 to file: 

  • Articles of Group (Colorado LLC formation)
  • Trade Title Assertion (Colorado trade name registration)

Earlier, the Colorado condition charge to file Content of Business was $50, and the fee to file a Trade Name Assertion was $20. The way Property Bill 22-1001 will work is that filers will now obtain a credit history towards every single of these filing fees of $49 and $19, respectively. 

How prolonged will the new fees be in outcome? 

A press release from the Colorado Secretary of State’s Office environment says the new costs will remain in place during Fiscal 12 months 2022-2023, or “until the quantity of the common fund is exhausted.” The Division estimates this relief will past right until June 30, 2023. 

Why was the Colorado Small business Price Reduction Act implemented?

In accordance to Colorado Secretary of Condition, Jena Griswold, this relief act was handed to help and assistance Colorado business entrepreneurs in the course of a tumultuous time.

“I will generally work to cut costs and pink tape for Colorado companies that are the spine of our communities. This cost relief will hold dollars in the pockets of tiny organization house owners, several of whom have faced adversity and uncertainty more than the last several yrs,” claimed Griswold.

Forming a Colorado LLC

Although the Colorado Content articles of Organization filing fee is now $1 rather of $50, the ways for forming an LLC in the condition are nonetheless the exact as right before. To variety a Colorado LLC, you’ll want to: 

  1. Name your LLC
  2. Appoint a registered agent
  3. File Article content of Firm
  4. Make an working arrangement
  5. Apply for an EIN

Learn all about the approach for starting up an LLC in Colorado. 

Master a lot more about the costs associated with developing an LLC in Colorado which includes state costs

Registering a Trade Name in Colorado

The similar is legitimate for registering a trade title in Colorado. When the charge is now $1 in its place of $20, the course of action continues to be the very same. 

If you want to perform business enterprise below a distinctive moniker than your official enterprise name, you are going to require to sign up a trade name. This is frequently referred to as a “doing business enterprise as” or “DBA” title in other states. 

Examples of when a trade title might be employed involve: 

  • A enterprise with the official title “ABC Toys, LLC” needs to provide puzzles online as “ABC Puzzles”
  • A enterprise with the official identify “ABC Toys, LLC” wishes to promote on Amazon as only “ABC Toys”
  • A business enterprise with the formal identify “XYZ Electronics, Corp.” needs to promote MacBooks as “XYZ Macs” 

To sign up a trade identify in Colorado, you’ll file a Trade Identify Statement with the Secretary of State’s Place of work and pay back your filing fee (which is just $1 for Fiscal 12 months 2022-2023). We can also take care of this for you.

We can help

Prepared to turn your dream of commencing your own business into a actuality? With Colorado LLC formation and trade title registration charges at just $1, there’s under no circumstances been a greater time to commence a new business in the Centennial Condition. But you will require to act rapidly, as the Colorado Small business Payment Reduction Act is only set to be in impact for Fiscal 12 months 2022-2023, or until finally the common fund is fatigued. 

If the imagined of hoping to comply with all the policies to type an official company entity seems daunting, really don’t anxiety. We’re in this article to support you as a result of the entire method. Let us minimize via the crimson tape and manage almost everything from development to compliance for you. Our team of formation professionals can validate your enterprise title availability, prepare your Article content of Group, coordinate submitting essential legal files with the Secretary of Point out, and additional. Access out to us today!

Disclaimer: The information on this web page is for informational functions only, and does not constitute legal, tax, or accounting suggestions. If you have specific concerns about any of these matters, request the counsel of a certified experienced.

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