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Colorado's strong economy and steady growth provide a strong incentive to form an LLC (limited liability company). Because each state has different requirements for forming a limited liability company (LLC), you'll want to understand Colorado's requirements before starting your business there. To create a Colorado LLC you must:
The name of a Colorado LLC must contain one of these terms or abbreviations: "limited liability company", "ltd. liability company", "limited liability co.", "ltd. liability co.", "limited", "l.l.c.", "llc", or "ltd.". Plus, the name can't be the same as or deceptively similar to that of any other entity formed or registered in Colorado.
Every LLC must have at least one member. However, members do not need to reside in the state and there are no age requirements for members.
A Colorado LLC can be member-managed or manager-managed, depending upon what is stated in the Articles of Organization. Managers are appointed by a majority of the members. Unlike members, there is an age requirement for LLC managers: a manager must be at least 18 years old.
A Colorado LLC is created when Articles of Organization are approved by the state. The following information is required:
Colorado does not require that the names and addresses of members/managers be listed in the Articles of Organization.
Every Colorado LLC must appoint a registered agent as part of the formation process and supply the agent's name and address on the Articles of Organization. An individual who serves as registered agent must be at least 18 years old. The registered agent must have a physical address (no post office boxes) in Colorado and must be available during normal business hours to accept important legal and tax documents for the business.
Colorado law does not provide for Professional Limited Liability Companies (PLLCs) but professionals, such as accountants, attorneys and physicians, can form a regular limited liability companies.
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