Colorado corporation and partnership law education and training will teach you how to create business entities such as a Colorado incorporation or limited liability company (LLC). It is especially important for attorneys who specialize in corporation and partnership law to understand the tax implications for a Colorado LLC and corporation.

The requirements needed to practice Colorado corporate law are determined by the state and may depend on the specific type of corporation law you wish to practice. A legal education in corporate law has three general phases:

1. The practice of Colorado incorporation laws requires a law degree. Practicing attorneys will generally require a Juris Doctor (J.D.) degree from a law school approved by the state of Colorado.
2. An aspiring lawyer will need to pass a bar exam that is administered by the state. A background check will also be performed along with a character and fitness evaluation.
3. The lawyer must apply to Colorado’s licensing authority and pay the required fees. The admittee then takes an oath to comply with the rules regarding the practice of law in Colorado.
   

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Complete the formal education needed to learn about Colorado corporation laws

There are a variety of universities in Colorado that grant J.D. degrees recognized by the state of Colorado. The required courses must be updated to keep up with changes in corporate law.

I recommend: The University of Denver Sturm College of Law is a top 100 law school that offers a J.D. degree and a number of dual degree programs. The University of Colorado is a top 20 law school that offers a full-time J.D. degree program.

Gain admission to the bar in order to form an LLC in Colorado

As a Colorado corporate lawyer, your clients will frequently wish to form corporations or partnerships with their businesses. Colorado has specific bar exam requirements and also allows lawyers licensed in other states to practice law in Colorado through reciprocity agreements.

I recommend: lexisONE offers information on the bar examination process such as fees and important deadlines in Colorado. MicroMash Bar Review provides a summary of the bar exam in Colorado, including the specific subject matter.

Obtain the additional requirements needed to practice Colorado LLC laws

Get licensing information necessary for a career in Colorado corporation law. An attorney in Colorado must also meet that state's continuing education requirements in order to renew a license to practice law.

I recommend: The Colorado State Board of Law Examiners answers specific questions of getting admitted to the Colorado bar. Members of the Colorado bar will also need to join the Navajo Nation Bar Association if they wish to practice law on the Navajo Nation.

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• •  Consider a Master of Laws (LLM) degree as a means of distinguishing yourself from other attorneys who practice Colorado partnership law. An LLM is a postgraduate law degree that generally requires an additional year of study at a law school. Graduates from regional schools frequently obtain an LLM in order to compete with graduates from more highly ranked law schools. This is also an excellent opportunity to begin specializing in corporate law.

Incorporating in Colorado requires you to understand the basics of Colorado corporate law. The structure of your corporation will be instrumental in the success of your business. It will affect your tax treatment, filing requirements, funding potential and liability obligations.

The ownership plans for your business entity will help determine how to incorporate in Colorado. A traditional corporation is useful to raise money with investors. Colorado corporate law requires complex ongoing paperwork, and will tax your business income on corporate and shareholder levels.

Registration under Colorado LLC laws is less complicated. Taxation occurs only on one level, the structure is simple and requires only two people to incorporate. Under Colorado partnership law, a partnership is appropriate for business ventures that have a limited time frame or a small number of people involved. Taxation benefits are similar to a Colorado LLC, in that there is no double taxation. The drawbacks include increased exposure to liability for the actions of the partnership.

The options available under Colorado corporate law are:

1. 1. A profit corporation.

2. 2. Limited liability corporation (Colorado LLC).

3. 3. Limited liability partnership (LLP) or Limited Partnership.

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Choose what works under Colorado corporate law

The decision on whether to set up a corporation or partnership depends on your long-term goals for the business. Ownership is easier to divide in a corporation, while partnerships are not well-suited for growth or sale and do not offer stocks. Taxation is different for both types of entities. And, finally, Colorado corporation registration, including Colorado partnership law, requires varying filing of paperwork and fees.

I recommend: FindLaw will guide you through picking the entity structure that works for you. If you need further advice, look for a site such as lawyers.com to find a Colorado attorney.

Make your Colorado incorporation a reality

Begin by choosing a business entity name that satisfies Colorado corporation law. Colorado corporate law requires filing certain forms as well as submitting fees. The filing may include articles of incorporation, or, for Colorado LLC registration, articles of organization. Fees will vary depending on the structure. File online for the most expedited service.

I recommend: Conduct a records search with the Secretary of the State's Office to find a business entity name that has not already been incorporated. Find the appropriate business entity form and file electronically at the Secretary of the State Business Center. Confirm the fee required by checking the business center's fee schedule.

Know the details of Colorado corporation law

You must abide by all Colorado rules and regulations with regard to Colorado incorporation, so review the related statutes carefully.

I recommend: Review the Title 7 of the Colorado Revised Statutes to understand your obligations when incorporating in Colorado. Read the Secretary of the State's cautions and tips with regard to Colorado corporations and Colorado LLC law to gain further information.

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• •  Remember that once you have filed for incorporation in Colorado, your job is not done. There will be annual filing requirements and fees to keep your business entity in good standing.

Colorado corporation and partnership law for beginners can help you learn the basics on incorporating in Colorado. Forming a corporation in Colorado includes several steps including establishing a company name, incorporating the company by filing articles of incorporation with the Colorado Secretary of State and determining how the company will be organized and insured.

There are three ways to form a corporation or partnership in Colorado. You can retain a lawyer to file all of the necessary paperwork for you, file your paperwork yourself with the Secretary of State department or hire a professional incorporation vendor. Consider these steps on Colorado corporation and partnership law for beginners.

1. Choose a business name before you incorporate in Colorado.

2. Learn the basics about the Colorado corporate law on filing articles of incorporation.

3. Obtain rate quotes on forming a Colorado LLC.

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Name your Colorado LLC

Before choosing a name for your Colorado limited liability company or partnership, you must first determine whether that name is available and not being used by another similar business. You can reserve a name before filing a business entity in Colorado. Under Colorado corporation laws, the reservation will be good for 120 days. If you currently have a business, you may also transfer the name of the current business to the new entity.

I recommend: To find out more about Colorado incorporation laws on business name selection, visit the Colorado Secretary of State. You can also find out more about business entity name selection at Speedy.

File articles of incorporation compliant with Colorado incorporation law

Colorado corporate law states that articles of incorporation must include several pieces of basic company information. The filed documents must list one or more incorporators. While Colorado partnership law and the state's LLC guidelines requires that business ventures are legal, you are not required to include your business activity in the articles of incorporation.

I recommend: Learn more about filing articles of incorporation at Legal Zoom. You can also obtain instruction on completing articles of incorporation by visiting Rocket Lawyer.

Compare prices and fees involved in incorporating in Colorado

The cost of incorporating in Colorado corporation or partnership will vary depending upon whether you choose to hire a professional incorporation service provider or purchase do-it-yourself services. If you are fairly familiar with the Colorado incorporation process, you may consider obtaining the required documents from an online legal services provider. These service providers will typically only charge for the actual document because no consultation is included. Documents can cost less than $20. You'll also have to complete and file your documents yourself. The cost of a professional services provider can cost hundreds to thousands of dollars depending upon the level or service you require.

I recommend: You may consider contacting Startup Legal for pricing information on using a consultant to establish a corporation or partnership in Colorado. You can also obtain online documents from LawGuru Forms.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Colorado corporation law varies depending upon the type of business entity formed. Therefore, it's important that you thoroughly research the various types of business entities and their corresponding tax obligations and state laws to determine the most advantageous business form for your pursuits.