Extract Data From Legal Colorado Business Forms For Free

There are several choices of business formats in Colorado including sole proprietorship, general partnership, limited partnership, corporation, limited liability company, registered limited liability partnership, registered limited liability limited partnership and limited partnership association.

The general entity structures are sole proprietorships, general partnerships, limited partnerships, corporations, and limited liability companies. There is not one best entity type; each entity type has its own pros and cons that need to be evaluated when choosing the best path for you.

The Colorado Limited Liability Company Act was adopted in 1990. An LLC combines the concepts of partnerships for tax purposes and corporations for liability purposes. LLCs are created by filing ?Articles of Organization? with the Secretary of State. While similar, LLCs are NOT corporations.

An entity ID number is a unique 11-digit number used in the Secretary of State's office to identify an entity's record. This number is assigned when an entity submits a document that creates a new record. This number can be found on your entity Summary page. This number is not the same as your tax ID number.

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Generally, LLCs are preferred by businesses that favor more flexibility, owner-managed operations, and less formal requirements. While corporations are preferred by businesses that favor set structure and are seeking outside investors.