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FAQ: Frequently Asked Questions For Colorado
Name Endings
1. Does Colorado need a designator for a cocporaion?
Yes. The name must say Corporation, Company, Incorporated or Limited or an abbreviation.
2. Can I use BANK as my corporation name?
If the name implies banking, trust, financial, mortgage or insurance, prior approval of the banking
superintendent or insurance commissioner is needed.
3. Can I use transfer one company name to another company?
No. An entity in Colorado can file an amendment to change its entity name or file a Statement of
Dissolution to dissolve the entity, which will make the entity name immediately available for filing.
Article Requirements
1. How many Directors and Officers do I need for my Corporation?
The minimum number is one. You can be listed as all four.
2. Can I have as many shares of stocks as I want?
An increase in shares does not cause an increase in initial filing fees.
3. Do I need to Officers or Managers on the Articles?
Managers and Officers / Directors are not required to be listed on the Articles of your new entity.
4. What is the difference between a Manager and a Member for an LLC?
You can only list one or the other on your articles of organization. Managers are employees of the
company and members are owners. A Manager may be an owner.
5. Who is the Incorporator or Organizer?
IncSmart.biz and the filers are the Incorporators and Organizers for your new entity. It is the person
that completes and signs the articles and submits them to the Secretary of State. The Incorporator's
and Organizer's duties and title end after filing.
Taxes and Fees
1. Does Colorado have annual fees and reports?
Colorado Reports and fees are due before the end of the 90 days from the first day of the anniversary
month for both LLCs and INCs
2. What does "Exist" mean for a Foreign Limited Partnership?
The entity status is "Exist", until the report has been filed. The fee depends on whether this is the first
or second notification. If a first notification, the fee is the same as good standing, if second notification,
the fee is the same as delinquent.
Compliance Requirements
1. Will Colorado require me to have a local bank account?
Colorado does not require a local bank account to run your business from the state.
2. Does Colorado require me a local business address?
Colorado Articles of Incorporation and Organization ask for an address, but it does not have to be
local.
3. What are the Colorado annual maintenance fees?
Filing Process
1. What is the process to file a new company in Colorado?
The Colorado Secretary of State averages around one (1) day to file new articles.
Colorado Order Forms
1. Colorado Corporation
2. Colorado Limited Liability Company
3. Colorado Doing Business As (DBA)
4. Colorado UCC Statement
5. Colorado Foreign Qualification
6. Colorado Mail Forwarding Service
7. Colorado Bookkeeping Service
8. Colorado Amendment
1. Does Colorado need a designator for a cocporaion?
Yes. The name must say Corporation, Company, Incorporated or Limited or an abbreviation.
2. Can I use BANK as my corporation name?
If the name implies banking, trust, financial, mortgage or insurance, prior approval of the banking
superintendent or insurance commissioner is needed.
3. Can I use transfer one company name to another company?
No. An entity in Colorado can file an amendment to change its entity name or file a Statement of
Dissolution to dissolve the entity, which will make the entity name immediately available for filing.
Article Requirements
1. How many Directors and Officers do I need for my Corporation?
The minimum number is one. You can be listed as all four.
2. Can I have as many shares of stocks as I want?
An increase in shares does not cause an increase in initial filing fees.
3. Do I need to Officers or Managers on the Articles?
Managers and Officers / Directors are not required to be listed on the Articles of your new entity.
4. What is the difference between a Manager and a Member for an LLC?
You can only list one or the other on your articles of organization. Managers are employees of the
company and members are owners. A Manager may be an owner.
5. Who is the Incorporator or Organizer?
IncSmart.biz and the filers are the Incorporators and Organizers for your new entity. It is the person
that completes and signs the articles and submits them to the Secretary of State. The Incorporator's
and Organizer's duties and title end after filing.
Taxes and Fees
1. Does Colorado have annual fees and reports?
Colorado Reports and fees are due before the end of the 90 days from the first day of the anniversary
month for both LLCs and INCs
2. What does "Exist" mean for a Foreign Limited Partnership?
The entity status is "Exist", until the report has been filed. The fee depends on whether this is the first
or second notification. If a first notification, the fee is the same as good standing, if second notification,
the fee is the same as delinquent.
Compliance Requirements
1. Will Colorado require me to have a local bank account?
Colorado does not require a local bank account to run your business from the state.
2. Does Colorado require me a local business address?
Colorado Articles of Incorporation and Organization ask for an address, but it does not have to be
local.
3. What are the Colorado annual maintenance fees?
- Pay Annual Report on anniversary of Filing Date
- Pay Annual Registered Agent Fees
- Pay Federal Taxes and State Taxes
Filing Process
1. What is the process to file a new company in Colorado?
- Choose a Name for your LLC or Corporation
- File your Articles with the Colorado Secretary of State
- Order your Tax ID Number
- Order your State Business License
- Receive copy of documents by email and originals by US Post
- Open a business checking account
The Colorado Secretary of State averages around one (1) day to file new articles.
Colorado Order Forms
1. Colorado Corporation
2. Colorado Limited Liability Company
3. Colorado Doing Business As (DBA)
4. Colorado UCC Statement
5. Colorado Foreign Qualification
6. Colorado Mail Forwarding Service
7. Colorado Bookkeeping Service
8. Colorado Amendment
| Disclaimer: Please note that IncSmart is not a law firm or an accounting firm. If you seek legal or tax advice, we recommend that you hire an attorney or a CPA. |
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