Colorado LLC Operating Agreement Templates

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A Colorado LLC operating agreement is a legal document that is used to establish rules and regulations that, once agreed upon by the members, shall govern relationships between all of the managing members of the company and set specifics pertaining to the operations of the company. The document shall also offer legal protections, separating personal assets from the business, securing members’ personal assets if need be.

The State of Colorado does not require the filing of this form in order to operate within the State. However, businesses should secure their business with the document as soon as possible, preferably prior to commencement, no matter the size of the business. Once the document is complete, it should be filed and recorded. All members (including sole proprietors) must take the time to carefully review all aspects of the document. If the language is unclear, a consultation with a knowledgeable attorney may be needed. This document will not require notarization.

Limited Liability Companies – Title 7, Article 80

Operating Agreement Laws – § 7-80-108

State Definition – § 7-80-102(11)(a)

By Type (2)

Multi-Member LLC Operating Agreement – For a company or business that shall operate with more than one contributing, managing member.

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Single-Member LLC Operating Agreement – This document would be designed specifically for a sole proprietor (owner) to establish a single-member entity.

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Table of Contents

How to Form an LLC in Colorado (4 steps)

The Colorado Secretary of State requires all entities to operate under a unique business name that is distinct and dissimilar to that of any others currently registered in the State. Therefore it is best to conduct a Name Availability Search prior to filing to guarantee the usage of a name. It is also possible to reserve a name for up to 120 days by filing the Statement of Reservation of Name.

Step 1 – File Online

The Colorado Secretary of State has designed an online filing system through which may submit your application; online filing is preferred as there are no pre-made forms currently available. Select your entity type below and begin filling in the online form.

Step 2 – Filing Fee

After completing the online form, you will be prompted to pay the filing fee. The fees are as follows:

  • Domestic – $50
  • Foreign – $100

Step 3 – Operating Agreement (not required)

An operating agreement may be drafted to outline the rights and duties of the company’s ownership as well as describe each owner’s financial interest (if a multi-member LLC). A single-member LLC can use a document of this nature to prove in court that the entity’s structure is separate from the individual and completely unique to the entity itself. Although the form is not required by State law, it is highly recommended that one be drafted after the LLC has been filed with the Secretary of State.

Step 4 – Employer Identification Number (EIN)

The Internal Revenue Service (IRS) uses the Employer Identification Number (EIN) to keep track of the financial activity of any particular business. If the owner(s) want to hire employees, register for bank accounts, apply for loans, or obtain credit cards, an EIN will be required. Applying for this identifier can be accomplished both Online or through Form SS-4.

(Video) How to Make an LLC Operating Agreement in Colorado