Forming an LLC in Colorado: The main reason people form an LLC in Colorado is to protect your personal assets. A Colorado LLC, or Limited Liability Company, is a type of business entity created under Colorado law.
An LLC gives you protection against personal liability if your business is sued. A Colorado LLC can run a business, own assets (like real estate, boats, planes and other vehicles), make money, own and rent property, enter into contracts, open a bank account and pursue and be pursued.
A Colorado LLC creates a wall of protection between your business and your personal assets. Your personal assets are protected in the event of a lawsuit against your business. 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 articles of incorporation
4. Draft and sign your LLC operating agreement
5. Obtain your LLC's EIN (Employer Identification Number)
To ensure that your LLC remains in good standing with the state after its formation, you will need to:
• Filing of your LLC's periodic report (due each year)
• Pay your LLC taxes
Continue reading: https://www.llcuniversity.com/how-to-form-an-llc-in-colorado/
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