Overview of Colorado LLC Fees and Requirements
Colorado LLCs pay annual fees to stay in good standing. The fee is around $50 based on members. Ways to reduce fees include timely payment eligible for discount.
It costs $50 to form a Colorado LLC by filing Articles of Organization. Additional fees include annual report fees called Periodic Report and taxes. The $10 Periodic Report fee is paid yearly to Colorado Secretary of State to keep the LLC in good standing.
Colorado LLCs require a Registered Agent with an annual fee ranging $50–$150 depending on services offered, reputation, and support.
Key Steps for Colorado LLC Formation
When establishing a Colorado LLC, mandatory fees and optional expenses apply. The filing fee covers Articles of Organization ($1) and license tax ($16). No monthly or yearly expenses needed. Expedited service costs $150 more.
Maintaining Compliance for Colorado LLCs
To keep a Colorado LLC in good standing, annual fees must be paid. This post overviews the fees, costs, and what’s included so you get the best value. Annual fees keep the LLC compliant and update changes in business details. The current annual periodic report filing fee is $10, with late fees of $50 potentially applying.
Taxation and Reporting for Colorado LLCs
Colorado State Income Tax for Colorado LLCs. Single-Member LLCs in Colorado: The LLC itself usually doesn’t file a state-level return. However, the owner files a personal state-level return that includes the LLC’s profits or losses. Multi-Member LLCs in Colorado: The LLC itself may need to file a Partnership return at the state-level. And the owners file a personal state-level return that includes the LLC’s profits or losses.
Income Taxes. In addition to the statewide income tax rate of 4.4%, a number of cities in Colorado impose their own local income tax for businesses and their employees to pay, including: Aurora. Denver.
Important Considerations for Colorado LLC Owners
A Colorado LLC has many benefits, including liability protection and certain tax advantages, though an LLC may not be the right choice for every business. Here are some pros and cons to consider:
- Liability. Pro: Members enjoy legal protection.
- Con: Liability protection isn’t absolute. In most cases, LLC members aren’t liable in lawsuits brought against their business.
Requirements and Fees when Dissolving a Colorado LLC
To dissolve a Colorado LLC, Articles of Dissolution must be filed with a $25 fee. An LLC can convert to a corporation through a complex, attorney-guided process. Foreign LLCs can register to do business in Colorado by filing a Statement of Foreign Entity Authority.
Additional Information Regarding Colorado LLCs
By law, all corporations and LLCs doing business within Colorado are required to have a registered agent. You can act as the registered agent or hire a person or company to perform the role of agent on your behalf. The cost of a registered agent for your Colorado LLC varies from a little over $30 to as much as $300. Before hiring anyone, be sure to check that they are reputable and offer the services you need.