Colorado Taxes

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Colorado LLC Taxes

How to form an LLC in Colorado
This Quick Start Guide is a brief overview of how to form an LLC in Colorado.

Detailed Lessons:

5. EIN Number
6. Periodic Report
7. Taxes ← you are here
8. Good Standing

 

Colorado LLC costs:
LLC filing fee: $50 (one-time)
LLC periodic report: $10 (every year)

Need help?
Hire a reliable service to form your Colorado LLC:
Northwest ($39 + state fee) or LegalZoom ($149 + state fee)

(check out Northwest vs LegalZoom)


Video Transcript:

The following 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. The following information is copyright protected. No part of this Lesson may be redistributed, copied, modified or adapted without prior written consent of the author. Depending on your type of business, you will likely need to register your LLC with the Colorado Department of Revenue. You will also need to file annual state income taxes as well as other tax documents depending on the structure of your business and whether or not you have employees. Calculating your tax obligations in Colorado can be complicated and if done properly can negatively impact your LLC. We recommend that you get help from a tax professional once your LLC is formed. Hiring a tax professional will not only help you keep your LLC in compliance with the State, but will also giving you an advisor to go to for other business questions. Whether your business turns a profit or loses money, you will still need to file tax documents every year. This is not something to be taken lightly. If you want to run a serious business and not get in trouble with the State, you should get assistance in filing your taxes properly. How to find a good CPA or accountant. A referral from a friend or someone else you trust is usually the best way to find someone to do your taxes. You can also ask co-workers, acquaintances from local clubs organizations, your neighbors and other business people. You could also ask your Twitter, Facebook, LinkedIn, and other social media friends and maybe find a trusted name from a friend of a friend. It’s as easy as typing in your social media accounts “Hey, I just formed an LLC. Does anyone know a good accountant?” If you can’t get a personal referral, then try doing a search online for “accountant” or “certified public accountant” and looking for someone with a strong track record. You should also want someone who’s a good fit for your company, makes you feel comfortable, and is willing to answer all of your questions. It should be someone you like personally as well as professionally. It’s okay to take your time to find the right person. We recommend talking with at least 2-3 people before making your final decision We hope you find a great tax professional. And that concludes this Lesson.

Colorado Secretary of State Contact Info

Colorado Secretary of State
Business Organizations
Phone: 303-894-2200 (Mon. -Fri., 8am – 5pm Mountain Time)
Email: [email protected] (they reply fast)

Additional Resources

Colorado Department of Revenue:
https://www.colorado.gov/revenue

Next Step

After you’ve watched this Lesson, you are finished with The LLC Formation Course™. Best wishes in your entrepreneurial endeavors!

Matt Horwitz
Founder & Educator, LLC University®
Forming an LLC shouldn't be so complicated. Our step-by-step guide will make the process a breeze – and no complex legal jargon! LLC University® teaches people how to form an LLC for free in all 50 states. We hope you find our free guides and resources helpful in your business journey.
Disclaimer: Nothing on this page shall be interpreted as legal or tax advice. Rules and regulations vary by location. They also change over time and are specific to your situation. Furthermore, this comment section is provided so people can share their thoughts and experience. Please consult a licensed professional if you have legal or tax questions.

8 Comments

  1. Holly February 28, 2017

    Hello. Thank you for a good quick overview of the LLC process!

    reply
    • Matt Horwitz February 28, 2017

      Hey Holly, you’re very welcome :) Thanks for the kind words… you rock!!

      reply
  2. Natalia August 6, 2017

    Thank you so much Matt for showing us the LLC formation process. It is extremely user friendly and so educational. I am very happy I came across your lessons!

    reply
    • Matt Horwitz August 7, 2017

      Thanks so much for your lovely comment Natalia :) You’re very welcome!

      reply
  3. Elena K Lor January 2, 2018

    Thank you for your lessons! You are the greatest! I really appreciate what you are doing! Many thanks to you!

    reply
    • Matt Horwitz January 2, 2018

      You are very welcome Elena!! Thank you for your nice comment :)

      reply
  4. Tammy S June 17, 2018

    Thank you for the detailed information and links. Great sources. Off to get started on a great upcoming business with confidence.

    reply
    • Matt Horwitz June 18, 2018

      Hey Tammy, you’re very welcome! Best wishes with your business!

      reply

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