STEP 1) VERIFY & SECURE YOUR BRAND NAME

Choose a Business NameFirst, check to see if the name you would like is already taken/registered with the state, too similar to another, or contains restricted words. Start by conducting a business entity search using the Colorado Business Database, as well as the TESS System through the U.S. Patent Office.

Keep in mind your brand name should contain the words ‘Corporation,’ ‘Company,’ ‘Incorporated,’ or ‘Limited.” Abbreviations for these words are also acceptable. If needed, you can also file a Statement of Reservation of Name form online to reserve an available name for 120 days.

Filing Fee: $25

STEP 2) SELECT A REGISTERED AGENT

Choose a Registered AgentA Colorado Registered Agent or an “Agent for Service of Process,” is an essential part of operating a business. This certified CO resident or registered business entity acts as the representative for your brand and receives legal paperwork like state filings, court notices, tax forms, etc.

Unlike other states, Colorado doesn’t allow a business to be its own Registered Agent, so if you don’t have a legal team you can hire an outside professional and pay up to $160/yr or get a certified agent free of charge by incorporating with IncFile or CorpNet.

STEP 3) FILE ARTICLES OF INCORPORATION

Register an LLCOnce you have a registered agent, you can then file the Articles of Incorporation with the Secretary of State. However, don’t do this until your corporation is ready and you have all the required information for the public record including:

  • Corporate name, address, and purpose,
  • Full name and complete address of Registered Agent,
  • Full name and complete address of the incorporators,
  • Number of shares Corporation is authorized to issue, and so on.

Filing fee: $50

STEP 4) GET A CORPORATE RECORDS BOOK

File Annual Reports & Publication RequirementsThink of this as the hard copy record book where all critical corporate documents are kept like the Articles of Incorporation, Bylaws, meeting minutes, stock certificate ledger, stock certificates, stock certificate stubs, stock transfer documents, etc. It’s the ultimate company binder! They’re very common and while not necessary having one is highly recommended for all serious business entities.

You can find them at nearby office supply stores or on Amazon, but we’re huge fans of Corporate Kits which include gorgeous records books/binders you can brand for as little as $99.

STEP 5) CHOOSE INITIAL DIRECTORS, MEET, DISCUSS BYLAWS

Hold a Meeting with Your Board of Directors

Appoint at least 1 director who among other things will oversee the Colorado corporation until the first shareholder meeting where new directors will be voted in. Prepare an “Incorporator Statement” with complete names and addresses of each director and keep it in your records book. Once elected, an initial meeting should:

  • Appoint officers & discuss/create Corporate Bylaws.
  • Choose a bank & approve the issuance of stock certificates.
  • Agree on corporate seal and adopt official stock certificate form.
  • Approve s-corp (opt.). Record Minutes of Meeting, have directors sign, then add to records book.

STEP 6) OPEN A BUSINESS BANK ACCOUNT

Best Business Bank AccountWhen you start a Corporation in Colorado, it’s important to keep all personal and business assets/accounts completely separate. So don’t take this lightly. Where should you start building the financial foundation of your brand? Who is offering the best overall business services to corporate clients, relative to location and other conveniences?

If you think it’ll be helpful, look into this short breakdown of Business Checking Accounts to start brushing up if all this is unfamiliar territory. Where your corporation banks is an important move, which is why it should be discussed in your initial shareholder meeting.

STEP 7) COVER TAXATION & LICENSING/PERMITS

Business LicensesTo ensure that you will not face penalties, fines, and fees when operating a business, you need to completely fulfill your Illinois business taxes and licenses obligations to the state. To get started, see the resources below:

Need Help Forming Your Corporation?

If you’d like help forming a Corporation, here are two great options:

IncFile ($49 + state fees) is ideal if you’re on a budget but refuse to sacrifice quality. However if you’d like access to an attorney past incorporation Rocket Lawyer ($99 + state fees) is the best option.

Visit IncFile Or Visit Rocket Lawyer

Note that this article on how to form a Colorado corporation isn’t a legal document or legal advice. It’s for informational purposes and the information above is subject to change. For specific legal questions regarding how to form a Colorado corporation or business in general, please consult with a lawyer or other accredited professional.