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Is Co a legal entity?

A company, abbreviated as co., is a legal entity representing an association of people, whether natural, legal or a mixture of both, with a specific objective. Company members share a common purpose and unite to achieve specific, declared goals.

What is the co owner of an LLC called?

If you own all or part of an LLC, you are known as a member. LLCs can have one member or many members. In some LLCs, the business is operated, or managed by its members. In other LLCs, there are at least some members who are not actively involved in running the business. Those LLCs are run by managers.

What do I need to start a LLC in Colorado?

How to start an LLC in Colorado Name your Colorado LLC. Create a business plan. Get an federal employer identification number (EIN) File Colorado Articles of Organization. Choose a registered agent in Colorado. Obtain business licenses and permits. Understand Colorado state tax requirements. Prepare an operating agreement.

How much does it cost to start a small business in Colorado?

The main cost to start an LLC is the $50 fee to file your LLCs Articles of Organization online with the Colorado Secretary of State. Note that Colorado has reduced formation filing fees to $1 from July 1, 2022, to June 30, 2023.

Is Co the same as corporation?

Other Entities to Know The following list contains examples of endings which all apply to general corporations having shareholders, directors and officers: Inc., Co., Corp., and Ltd. These all indicate the business is a corporation (and are abbreviations of Incorporated, Company, Corporation, Limited).

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