Conducting Business in the
State of Colorado
(A Checklist for New Businesses)
Congratulations, you have probably just received evidence that your Articles of Incorporation, Application for Certificate of Authority, LLC, LP, LLP, LLLP, or LPA, has been accepted by the Secretary of State. You are now duly authorized to start business, right? Well, not quite. Just because you have incorporated or organized an LLC does not mean that you have complied with all of the federal, state and local requirements to do business in Colorado.
The Secretary of State has prepared this non-inclusive checklist of additional agencies to contact and has included some general issues you should consider as you go forward in establishing your business. Some of the items listed here may not be applicable to your business or to your particular situation. However, it is hoped that the list is comprehensive enough to get you thinking about the vast array of issues that confront you.
It is our desire that all new businesses succeed. We hope that this checklist is of some assistance to you in your new endeavor.
First meeting of directors/shareholders should be held immediately.
Election of new directors and appointment of officers.
Adoption of Bylaws.
Establish a corporate bank account.
What officers are authorized to sign checks?
Trade name - Are you going to do business under a name other than the corporate name? If so, contact the Office of the Secretary of State.
Protect your ideas - Contact the Office of the Secretary of State and the U.S. Patent and Trademark Office for information on state and federal trademarks and copyright.
Buy-Sell Agreements between shareholders.
Is this a small corporation? Are you going to apply for "S" corporation status? Contact the Internal Revenue Service.
Securities laws applicability - Are you going to sell stock? See your attorney.
Business plan, budget, cash flow projections, working capital needs - Can you cover payroll, operating expenses, taxes, etc., for a 6-month period.
Books and accounts - Contact your accountant.
Do you understand the tax implication of the entity you are using for your business?
Obtain your federal tax identification number from the IRS.
Obtain your state tax identification number from the Colorado Department of Revenue.
Do you have all of the federal, state and local tax information and forms?
State Workmen's Compensation
State & Local Sales Tax - Contact City Hall.
What is your product?
What is your market?
Do you have a marketing plan?
How are you going to distribute your product?
How are you going to advertise?
Radio/Television (Have you thought about cable?)
Telephone lines - Business lines are more expensive than personal lines
Zoning - Is local zoning appropriate for your business use?
City/County business licenses - Contact City Hall or County Offices.
Special licenses for certain kinds of business - Contact City Hall.
Will you serve liquor - Obtain liquor license from City Hall.
Will you serve food - Contact local/state health department.
Will you provide public accommodations - Contact health department.
Fire and Premises
Officer and Director liability
Will you be one of the businesses listed under state regulated businesses?
Will you serve liquor - Contact Department of Revenue.
Will your business be regulated by the Public Utilities Commission (PUC)?
Will you buy or sell wholesale - Contact Department of Revenue.
Minimum wage laws - Do you know how much you have to pay your employees?
EEO - Anti-discrimination laws may affect your business.
ADA - Have you complied with the Americans with Disabilities Act?
Will your business generate hazardous waste or materials?
Will your business generate smoke or air pollution?
Will your business discharge industrial waste into the water supply?
Does your business involve the sale or use of firearms, explosives or fireworks? Contact your local fire department or the Bureau of Alcohol, Tobacco and Firearms.
Does the work environment involve hazardous conditions which could cause injury or death to employees? Contact OSHA.
Who manages and how?
Do you have standard contracts for the sale of your products - for the purchase of materials? If not, consult with your attorney.
Hiring employees - Employee Eligibility Verification pursuant to the Immigration Reform and Control Act of 1986 - Contact Immigration and Naturalization Service.
Independent contractors or employees - Contact your attorney regarding the tax and liability impact of each type of personal service.
Do you have employment contracts with upper-level management employees?
Noncompete agreements with key employees who might leave.
Life insurance on key employees.
Employee fringe benefits - vacation, sick leave, military leave, health and disability programs, automobiles or auto allowances, and other perks.
Notary public - Every business should have at least one.
Protection of trade/business secrets - Non-disclosure agreements.
If your business is one of the following, contact the Department of Regulatory Agencies at the appropriate telephone number.
Accountants - (303) 894-7800
Acupuncture - (303) 894-2440
Architects - (303) 894-7801
Barber/Cosmetology - (303) 894-7772
Chiropractors - (303) 894-7762
Dental Examiners - (303) 894-7758
Electricians - (303) 894-2300
Engineers & Land Surveyors - (303) 894-7788
Insurance Commission - (303) 894-7499
Marriage/Family Therapist - (303) 894-7766
Medical Examiners - (303) 894-7690
Nursing - (303) 894-2430
Nursing Home Administrators - (303) 894-7760
Optometrists - (303) 894-7755
Outfitters - (303) 894-7778
Passenger Tramway Board - (303) 894-7785
Pharmacy - (303) 894-7750
Physical Therapy - (303) 894-2440
Plumbers - (303) 894-2319
Podiatrists - (303) 894-7690
Professional Counselors - (303) 894-7766
Psychologists - (303) 894-7766
Real Estate Commission - (303) 894-2166
Securities Commission - (303) 894-2320
Social Workers - (303) 894-7766
Veterinarian - (303) 894-7755
PUBLICATION IS FOR GUIDELINE PURPOSES ONLY.
ALWAYS USE THE COLORADO REVISED STATUTES AS YOUR LEGAL REFERENCE.