Picking a name for your LLC can be one of the most challenging and inspiring actions you take as you start your LLC. Do some research beforehand to make sure the name you chose is best suited for your business venture. Below are some important guidelines:
Make sure the name isn't already taken by doing a name search
If you plan on having a website, check that the domain isn't taken
Follow the LLC naming guidelines detailed below
LLC naming guidelines
Your entity name must contain the words Limited Liability Company or the abbreviation L.L.C. or LLC. Also the name cannot already be used by any registered business entity in the state.
There are certain words which are restricted or prohibited from the use of names in the LLC. Restricted words are generally words which require additional appropriate paperwork and licensed individuals to be part of the LLC, such as Banc, Bank, Banque, Doctor, Engineer etc. Prohibited words are generally any words that would confuse the name of your LLC with a federal or state agency e.g. FBI, Secret Service, Treasury etc.
A registered agent is a person or business nominated by your company to officially receive and send papers on your behalf. Such papers include service of process of legal action, and state filings.
Before filing the articles of organization, a company must nominate a registered agent for the company. All limited liability companies doing business in Colorado must have a registered agent with a Colorado State address. The registered agent must be a resident of Colorado or a corporation authorized to transact business in Colorado. A company may not act as its own registered agent, but you may elect an individual within the company.
It is highly recommended to use a registered agent service. Click here to learn why.
A nonrefundable fee of $1.00 is required when filing the Articles of Organization online.
If you require assistance in filing your paperwork, our partner company provides a great LLC formation package, which includes, filing the articles of organization, a custom operating agreement, and registered agent service.
An operating agreement is a legal document outlining the ownership and operating procedures of your LLC. This agreement allows you to form financial/working relationships with co-owners into an established system suitable to your business. It is not required to form an LLC in Colorado, but is good practice to have one.
Recommended: We provide a free operating agreement however we recommend getting one professional drafted by a lawyer, especially if you are starting a multi-member LLC.
While plying your trade, you may be required by the state to obtain a business license and/or permit. Regulations vary by industry, so it is important to acquire the correct license/permit.
The U.S Small Business Administration (SBA) provides a free, comprehensive site for guiding businesses through federal, state, and local issues. Your local Chamber of Commerce is also a good resource regarding local licenses and permits.
The details of business licenses vary from state to state. That said, most state licensing services have online forms. Some jurisdictions require paper applications for certain categories of business to be mailed or delivered in person.
Fees for business licenses will vary depending on what sort of license you are seeking to obtain.
So, you’ve registered your business, and it’s time to set up shop. First, though, you need to learn the local regulations for setting up that shop. For example: restaurants need health permits, building permits, signage permits, and the like, all of which vary either by city or state. The U.S Small Business Administration (SBA) provides resources and information on some of the permits that may be required for a business based on their locality and the nature of their business.
Most established businesses have a D-U-N-S number, a 9 digit unique identifier which they obtained through the Dun & Bradstreet Corporation (www.dandb.com). You'll need a D-U-N-S number for your business if you plan on:
providing contract work for most government organizations
getting approved for a business line of credit
working with specific industry and trade associations
You may unlock many benefits from obtaining a D-U-N-S number early on. These benefits include getting more publicity for your business, building your business' credit early on, and creating a positive reputation for your company. Consider getting the Small Business Starter which includes an expedited D-U-N-S number, a Business Credit File, and a listing in their online business directory (great for increasing traffic to your business' website!).