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Business Registration in Colorado
- Register your business with the Colorado Secretary of State’s office by filing online.
- The Secretary’s office sends all business reminders electronically, so it’s important to keep an active email address on file.
Business Structure and Registration Fees
- To register a Sole Proprietorship, submit a Statement of Trade Name of an Individual with a filing fee of $20.
- For a Partnership, the document is the same as above, with a filing fee of $25.
- To form a Corporation, submit the Articles of Incorporation with a filing fee of $50.
- To register a LLC in Colorado, follow steps including choosing a company name, appointing a Registered Agent, filing Articles of Organization, creating an Operating Agreement, and getting an EIN.
Business Operations and Costs in Colorado
- Costs to start and run a business in Colorado depend on permits, licenses, and operational expenses.
- Many businesses require a city or county license even though Colorado doesn’t require licensing for all businesses.
Business Name Registration and Requirements
- By registering your DBA name, you create a public record allowing customers, vendors, and agencies to recognize your chosen business name.
- Consulting an attorney or advisor is recommended to understand legal and financial obligations when operating under a DBA.
Licensing and Renewals
- Companies in Colorado need to file an annual report, and if needed to collect sales tax, get a Retail License from the Department of Revenue.
- Licenses renew periodically, often with small fees.
Sole Proprietorship in Colorado
- Sole proprietorships attract small or low-risk businesses wanting simplicity, low costs, and control despite liability concerns.
Starting a Sole Proprietorship in Wyoming
- Choose a business name, register a DBA name, obtain licenses and permits, and understand tax obligations to start a sole proprietorship in Wyoming.
Differences Between Sole Proprietorship and LLC
- A sole proprietorship offers simplicity but comes with unlimited liability, whereas an LLC provides liability protection and separates assets.