Your business structure determines how your business is taxed, the type of paperwork you are required to complete, and your opportunities for future growth. Therefore, it is imperative that you choose the right business structure.
If you are not sure which business structure is right for you, use our walkthrough guide to get an in-depth look at each option. For a side-by-side entity comparison, see this chart.
After you have selected the structure that is best for your business, next register it with the state. The easiest way to handle these requirements is to have an online incorporation service like IncFile (for $49) or LegalZoom (for $149) handle the process for you for you.
However, if you would like to incorporate your business yourself, follow the appropriate guide below for your business structure. Each guide will walk you step-by-step through all business entity specific requirements:
Congratulations! You have followed the steps above and are officially a Colorado business owner. Here are 5 additional steps to help you run a successful business.
Now that you have officially incorporated your business, the next crucial step is to write a solid business plan. The importance of a business plan can’t be emphasized enough when it comes to the development and success of your business: both now and in the future.
Contrary to popular belief, writing a business plan isn’t as boring or tedious as it sounds. Here are two resources to help you get started.
As you start a business, it is very important to keep your personal and business assets separate. The best way to get started with this is to open a business bank account. This will help you keep everything separate and keep a close eye on the most important parts of your business.
Recommended Resource: Look into this roundup of the best business banking accounts to decide which is right for you.
When starting a business in Colorado, it’s critical to take care of your Colorado business taxes and overall finances. You can register online for your tax obligations through Colorado Business Express.
Recommended Resource: Xero is an accounting software that helps you manage your finances quickly and painlessly. No need to keep track of every receipt and penny spent for tax time. Try Xero free for 30 days.
Aside from business taxes, another important task when incorporating a business is obtaining business licenses. Colorado business licenses and regulations are a requirement for your business to operate legally.
Recommended Resource: If you would like for professionals to find all business licenses and regulations on your behalf, here is a great package. Otherwise, look into this resource roundup offered by the SBA.
If you want to be taken seriously, you must have a professional website. With WordPress, you are able to build and customize your website in minutes. Bluehost is reliable, has a 1-click automatic WordPress installation, and boasts top notch customer support.
Resource for Getting Started: See how to start your business website through this step-by-step guide.
Please note that this guide to incorporating a business is not legal advice. If you have any specific questions about your business, please speak with a local professional.