You're ready to get your business off the ground. There's a lot of work to be done, including the legal formation of your business. There are four steps to forming a business in Colorado according to colorado.gov. Here is the basic information on those four steps, but we can provide the in-depth guidance needed to ensure your company meets the requirements defined by law.
Step 1: Register company with the Colorado Secretary of State's Office
This can be done online at colorado.gov. In addition, you can reserve the name of your business or register a trade name. These processes come with fees that are listed on the state's website.
Step 2 Get a Federal Employer Identification Number
This number is needed by most businesses in order to file taxes and conduct other business. The Internal Revenue Service issues this number and once an application for an FEIN is completed online, the number can be issued immediately.
Step 3 File your business with the state of Colorado
This step will set up your wage withholding account, unemployment insurance account and sales tax account. There are many instances where legal advice can be beneficial in this step, as not all businesses may apply online.
Step 4 Get business licenses
Many businesses require licensing through the Department of Regulatory Agency. Operating your business without the proper licensing can have significant consequences.
As you can see, it can be a complex affair to form a business. Our webpage on business formation provides additional information. We know all of the intricacies involved with starting a business and can provide our clients with advice needed to meet the regulatory and licensing demands in the state.