Colorado LLC Filing Fees Are Now $1

As of July 1, 2022, the associated fee to kind a Colorado LLC is simply $1. That is because of the implementation of the “Colorado Enterprise Payment Aid Act” (Home Invoice 22-1001). 

When you’re questioning what this implies for enterprise house owners and entrepreneurs within the Centennial State, you’ve come to the precise place. Hold studying to study every little thing that you must know concerning the new Colorado LLC submitting charges. We’ll discover which filings are $1, how lengthy the brand new charges will probably be in impact, and something that’s new about beginning an LLC in Colorado. 

Which Colorado filings are actually $1? 

In line with the Colorado Enterprise Payment Aid Act, two particular filings are actually $1. They embody 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 Identify Assertion (Colorado commerce title registration)

Beforehand, the Colorado state charge to file Articles of Group was $50, and the charge to file a Commerce Identify Assertion was $20. The best way Home Invoice 22-1001 works is that filers will now obtain a credit score towards 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 final fund is exhausted.” The Division estimates this aid will final till June 30, 2023. 

Why was the Colorado Enterprise Payment Aid Act carried out?

In line with Colorado Secretary of State, Jena Griswold, this aid act was handed to assist and assist Colorado enterprise house owners throughout a tumultuous time.

“I’ll all the time work to chop prices and purple tape for Colorado companies which are the spine of our communities. This charge aid will preserve cash within the pockets of small enterprise house owners, lots 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 must: 

1. Identify your LLC
2. Appoint a registered agent
3. File Articles of Group
4. Create an working settlement
5. Apply for an EIN

Study all concerning the course of for beginning an LLC in Colorado. 

Registering a Commerce Identify 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 underneath a special moniker than your official firm title, you’ll must 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 could be used embody: 

• 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 Identify 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 personal 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 must act shortly, because the Colorado Enterprise Payment Aid Act is simply set to be in impact for Fiscal 12 months 2022-2023, or till the final fund is exhausted. 

If the considered attempting to observe all the foundations to kind an official enterprise entity appears daunting, don’t stress. We’re right here that will help you via your complete course of. Allow us to minimize via the purple tape and deal with every little thing from formation to compliance for you. Our staff of formation consultants can confirm your enterprise title availability, put together your Articles of Group, coordinate submitting required authorized paperwork with the Secretary of State, and extra. Attain out to us as we speak!

Disclaimer: The content material on this web page is for informational functions solely, and doesn’t represent authorized, tax, or accounting recommendation. You probably have particular questions on any of those matters, search the counsel of a licensed skilled.