Closing a Small Business in Colorado
To close your business in Colorado, first decide to close and file dissolution documents online for a $25 fee. You have until the 15th day of the 4th month to pay your first-year tax.
Steps to Dissolve a Sole Proprietorship
- Send the IRS a letter with your complete legal business name, EIN, address, and reason for closing.
- Inform clients, request final bills from creditors, and settle obligations before dissolving.
- File final tax returns for the year you cease operations.
Check Business Name Availability
To ensure no other business can use a name you register, conduct a business name availability search.
General Liability Insurance for Colorado Sole Proprietorship
While not required, most should have policies to avoid assuming full liability.
Close a Business in Colorado
Steps:
- Decide to close.
- File dissolution documents.
Dissolving an LLC in Colorado
Follow these three steps:
- Follow the Operating Agreement.
- Close Your Business Tax Accounts.
- File Articles of Dissolution.
Cost of Dissolving an LLC in Colorado
To dissolve your Limited Liability Company in Colorado, there is a $25 filing fee required.
Colorado Business Closure Form
Instructions:
- Complete the Address Change or Business Closure Form to notify the department of changes.
- Ensure you have at least one shareholder in your corporation.
Webinarcare Editorial Team Guide
Learn how to dissolve your business in Colorado with detailed instructions.
How to Dissolve a Business in Colorado
Having an operating agreement is essential for dissolving an LLC in Colorado. Confirm all members agree to close the business and vote in favor of the dissolution before beginning the legal procedure.