Colorado LLC Submitting Charges Are Now $1

As of July 1, 2022, the price to type a Colorado LLC is simply $1….

As of July 1, 2022, the price to type a Colorado LLC is simply $1. That is due to the implementation of the “Colorado Enterprise Charge Reduction Act” (Home Invoice 22-1001). 

If you happen to’re questioning what this implies for enterprise homeowners and entrepreneurs within the Centennial State, you’ve come to the best place. Preserve studying to be taught the whole lot you could know in regards to the new Colorado LLC submitting charges. We’ll discover which filings are $1, how lengthy the brand new charges shall be in impact, and something that’s new about beginning an LLC in Colorado. 

Which Colorado filings are actually $1? 

In response to the Colorado Enterprise Charge Reduction 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 price $1 to file: 

  • Articles of Group (Colorado LLC formation)
  • Commerce Title Assertion (Colorado commerce title registration)

Beforehand, the Colorado state price to file Articles of Group was $50, and the price to file a Commerce Title Assertion was $20. The way in which 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 Yr 2022-2023, or “till the quantity of the overall fund is exhausted.” The Division estimates this aid will final till June 30, 2023. 

Why was the Colorado Enterprise Charge Reduction Act applied?

In response to Colorado Secretary of State, Jena Griswold, this aid act was handed to assist and assist Colorado enterprise homeowners throughout a tumultuous time.

“I’ll all the time work to chop prices and purple tape for Colorado companies which might be the spine of our communities. This price aid will maintain cash within the pockets of small enterprise homeowners, a lot of whom have confronted adversity and uncertainty over the previous few years,” stated Griswold.

Forming a Colorado LLC

Whereas the Colorado Articles of Group submitting price is now $1 as a substitute of $50, the steps for forming an LLC within the state are nonetheless the identical as earlier than. To type a Colorado LLC, you’ll must: 

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

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

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 price is now $1 as a substitute of $20, the method stays the identical. 

If you wish to conduct enterprise beneath a distinct 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 may be used embody: 

  • A enterprise with the official title “ABC Toys, LLC” desires to promote puzzles on-line as “ABC Puzzles”
  • A enterprise with the official title “ABC Toys, LLC” desires to promote on Amazon as merely “ABC Toys”
  • A enterprise with the official title “XYZ Electronics, Corp.” desires 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 price (which is simply $1 for Fiscal Yr 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 rapidly, because the Colorado Enterprise Charge Reduction Act is simply set to be in impact for Fiscal Yr 2022-2023, or till the overall fund is exhausted. 

If the considered attempting to observe all the principles to type an official enterprise entity appears daunting, don’t stress. We’re right here that can assist you via the complete course of. Allow us to lower via the purple tape and deal with the whole lot from formation to compliance for you. Our group 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 at the moment!

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