Forming a Corporation in Colorado: Starting a business is a very big decision, and careful consideration has to be given to the legal structure that will suit your business the best. Incorporating a business can be beneficial as it offers liability protection and other benefits depending upon the type of corporation formed.

Incorporating In Colorado: The first step is to decide on the kind of corporation and form it as per the rules and regulations in the state of Colorado. It is necessary to give a name for the corporation that does not contain any prohibited words and that ends in the words “Incorporated,” “Corporation,” “Limited,” or “Company.” The name should not be a repeat of any registered business name, or a name that has already been reserved.

The articles of incorporation are filed with the Colorado Secretary of State on paying a fee of $25 for electronically filing it, and it will be processed within 20 business days. The articles have to be filed by the incorporators, minimum number being one. It is not mandatory to list the statement of purpose in Colorado. The corporation has to have a minimum of one director who has to be above 18 years of age. However, a list of the classes of shares and number of shares in each class that the company is authorized to issue has to be submitted along with the articles. The principal office address as well as the name and address of the registered agent have to be submitted, too. The registered agent must either be a natural person at least eighteen years old whose primary residence or usual place of business is in the state or an entity whose usual place of business is in this state.

The board of directors can amend, adopt, or repeal the bylaws as long as they are not violating any clause in the articles of incorporation. The bylaws can determine the number of directors and the officers. The bylaws can be prepared by getting help from an experienced attorney. They have to be maintained in the principal executive office of the entity, which has to be located in Colorado. Any officer may hold more than one position as per the laws in Colorado. The directors have to delegate tasks to the officers, ensuring preparation and maintenance of minutes as well as for authenticating records.