Colorado LLC FAQs - Starting an LLC in Colorado
ฝัง
- เผยแพร่เมื่อ 25 ธ.ค. 2016
- ➡ Full article: www.llcuniversity.com/colorad...
Colorado LLC Questions Answered:
• What is a Colorado LLC?
• What are the advantages of forming an LLC in Colorado?
• How to start an LLC in Colorado?
• Do I need a lawyer to form an LLC in Colorado?
• How do I maintain an LLC in Colorado?
• How long does it take to form an LLC in Colorado?
• How many people do I need to form an LLC in Colorado?
• How much does it cost to start an LLC in Colorado?
• How do I file a Periodic Report for my Colorado LLC?
• Is Colorado the best state to form my LLC?
• Should I form a Colorado LLC for real estate investing?
• What are the annual fees for a Colorado LLC?
• What other fees do I need to pay to form an LLC in CO?
• What taxes do I need to pay as an LLC in Colorado?
• What’s better: a Colorado LLC or a Corporation?
• What’s better: a Colorado LLC or a Partnership?
• What’s better: a Colorado LLC or a Sole Proprietorship?
• When is the best time of year to form an LLC in CO?
• Where can I get an Operating Agreement for my CO LLC?
• Who can be my Registered Agent in Colorado?
• Why form an LLC in Colorado?
• Where can I learn more about LLCs?
A Colorado LLC is a type of business structure formed by state law. It can be used to run a business, or it can be used to hold assets like real estate, boats, and planes.
A Colorado LLC can: make money, own/lease property, enter into contracts, open a bank account, and sue and be sued. It can be formed by one person or by several people.
There are 2 main advantages to forming a Colorado LLC: personal liability protection and pass-through taxation.
With an LLC, your personal assets are protected from the assets held by your business. This means your personal assets cannot be used to pay off your business’s debts or liabilities in case your LLC gets sued.
An LLC also avoids double taxation. Unlike a Corporation, an LLC does not have to file a separate federal tax return with the IRS.
Instead your Colorado LLC profits/losses pass through directly to your personal income tax return.
How to start an LLC in Colorado? There are 5 steps to forming an LLC in Colorado. They are:
1. Choose a Name for your LLC
2. Select your LLC’s Registered Agent
3. File your LLC’s Articles of Organization
4. Complete and sign your LLC’s Operating Agreement
5. Get your LLC’s EIN (Employer Identification Number)
You’ll also need to do the following every year to keep your LLC in good standing with Colorado:
• File your LLC’s Periodic Report
• File and pay your Colorado Taxes
Continue reading: www.llcuniversity.com/colorad...
/---------------------------------------/
Ask any LLC question here and get a reply in a few hours:
www.llcuniversity.com/ask-llcu/
-- DISCLAIMER --
This information is provided for educational purposes only and in no way constitutes legal, tax, or financial advice. For legal, tax, or financial advice specific to your business needs, we encourage you to consult with a licensed attorney and/or CPA in your state.
LLC University® is a registered trademark.
© LLCU IP1, LLC. All rights reserved.
www.llcuniversity.com
[=================================]
Hey folks, make sure to check the site for most up-to-date information: www.llcuniversity.com/colorado-llc-faq/. Or select your state and start forming your LLC with our free guides: www.llcuniversity.com/
Thank you for this incredibly empowering service you offer. With your clear, simple instructions, I have learned how this all works, registered my LLC, filed my articles of organization and obtained my EIN. The whole thing -- from first video to EIN -- took 1.5 hours (if that) and cost me just $50. I could not be more pleased or grateful. Thank you, thank you, thank you.
Hi Lara, this is wonderful to hear! You're very welcome :) Best wishes with your business and new LLC!
Thanks for this! Probably starting mine at the beginning of 2019. Really good info in this video and on the websit!
Thanks so much! Sounds like a solid plan :)
Such a great and informative video. Thanks a lot!
You're very welcome!
Such an excellent resource!
Thanks Matthew!
Thank you so much it’s been so much help!!
You're very welcome Brandon!
Excellent video!
Thanks Christopher!
YES! Only video that answered my Real Estate investing question!! Watch out! PropertyDough is coming in hot!
Awesome to hear that!! Heck yea!
Hi Matt, Thanks for the great and easy to follow info videos! I'm planning on starting a home business so I would be using the same address for the business as well as the registered agent. Should I have my wife or myself as the registered agent? I would be the only person on the LLC.
Hey Vincent, you're very welcome :) We dive deeper into your Colorado LLC Registered Agent options here: www.llcuniversity.com/colorado-llc/registered-agent/. Hope that helps!
Thank you for this video, What do you mean by filing and paying tax? I thought you do not have to file taxes in colorado, or are these to different things? Thanks
The LLC does not file a separate tax return federally with the IRS, however, you may owe state and local (county, city, township, etc.) taxes depending on how you make your money, how you're taxed by the IRS, and where your business is located. Hope that helps.
Thank you so much! You are the best!
Thanks Henry!
If I'm starting an optometry business, but don't have a location yet, can I use my personal (where i live) address when I register myself as the agent? And then change that address to the business address later?
Hi Joel, yes, you can certainly be the LLC's Registered Agent and use your home address. And yes, that can later be changed. You can also use that address as the LLC's Principal Office Address and the Mailing Address too... and again, that can be changed later. If it's of concern, that information will be on public record, so if you'd like a different address, you can use the Commercial Registered Agent's address that we mention here: www.llcuniversity.com/colorado-llc/registered-agent/. They'll let you use their address as your Registered Agent, Principal Office, Mailing, Organizer, and Filer's address (there's 5 address fields in the Articles of Organization lol!). And that can be changed later too.
To change your Registered Agent info, you'll file a "Statement of Change Changing Registered Agent Information". To change Principal Office info, you'll file "Statement of Change Changing Principal Office Address". OR... both of those can be changed when you file your Periodic Report (www.llcuniversity.com/colorado-llc/periodic-report/).
Additionally, because your LLC will be rendering professional services, you'll want to form a Professional Service Company LLC (usually called a "Professional LLC/PLLC" in most other states). Info can be found here: www.sos.state.co.us/pubs/business/FAQs/professionals.html. You'll use the same Articles of Organization as "regular" LLCs, however, you'll need to include a statement as required by the statute governing your Professional Service Company LLC. Hope that helps!
I live and work in California but my farming business is in Colorado. Where should I file my LLC?
Since you reside in CA, which has very strict rules, you're doing business in CA (see www.llcuniversity.com/california-llc/doing-business-in-california/). You'll want to look into forming an LLC in CA and registering as a foreign LLC in CO or vice versa.
Dear
1. What are the charges for LLC of Colorado?
2. If we are USA non resident do we have to contact any registered agent for LLC?
3. If we have opened our LLC in Colorado, can we do bussines of Amazon fba wholesale any where in USA?
Please guide in this regard.❤❤
1. Colorado LLCs file an Annual Report (aka Periodic Report) every year. It's $10.
2. Your Colorado LLC needs to have a Registered Agent. This can be a person or a company.
3. Yes, you can use a Colorado LLC for Amazon FBA throughout the entire USA.
I forgot to add LLC on my EIN number name is that gonna be ok without it or am I gonna have problems?
You'll want to apply for another EIN and have it done correctly. Then you can cancel the first EIN: www.llcuniversity.com/irs/cancel-ein/
Do I need to have insurance on my LLC
Hi Schalina, what type of business will you be running?
Why does the website say "the document you requested ( periodic report ) is not available for this entity"?
Hi William, it usually means you're trying to file too early. When was your LLC approved?
It was approved this year, sounds like I only need to complete the Periodic report in a years time.
Hey William, you are correct. Your LLC's first Period Report will be due next year :)