Colorado Limited Liability Company Pre-Organization Kit
Avoid the common pitfalls of starting up a limited liability company by using our Pre-Organization Kit.
By using the included worksheets and checklists, you will have before you all of the basic data you will need to complete your organization paperwork. But perhaps even more important, by using this kit you will also uncover any potential differences of opinion among the organizers.
Often, conflicts and demands are not known until the actual process of determining the company’s structure begins. Frank discussions regarding the questions of voting rights, distribution of profits, amounts of contributions, and other management decisions often will enable potential associates to resolve many of the difficult problems of company management in advance, thereby avoiding much larger and more costly problems in the future.
The use of a written worksheet will also provide all persons involved with a clear and permanent record of the issues discussed and the decisions made, which may be important as your company grows.
Included in this packet are the following:
· Instructions for completing Pre-Organization Worksheet
· Pre-Organization Worksheet
· Pre-Organization Checklist
· Document Filing Checklist
This Kit has been designed for use in Colorado.
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Colorado Limited Liability Company Pre-Organization Kit
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Colorado ticles of Dissolution (mandatory, if applicable) Any other required state forms
desired) Articles of Organization (mandatory) Amendments to Articles of Organization (mandatory, if applicable) Annual Company Reports (mandatory) Change of Address of Registered Agent (mandatory) Arquirements Prepare company accounting ledgers Prepare company record book (looseleaf binder)
LLC Document Filing Checklist Colorado
Application for Reservation of Limited Liability Company Name (ifcles of Organization prior to filing Review tax impact of organization with an accountant Check state tax, employment, licensing, unemployment, and workers compensation requirements Check insurance reCheck annual fees and filing requirements Reserve company name, if desired, by filing with the state. Prepare Articles of Organization Prepare Operating Agreement If desired, have attorney review Arti________________________
LLC Pre-Organization Worksheet
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LLC Pre-Organization Checklist Colorado
Write state limited liability company office for information Complete Pre-Organization Worksheet ____________________________________________________________ Amendments to Operating Agreement (majority/%/unanimous?): _________________________ ____________________________________________________________ Termination of limited liability company: ____________________________________________ Amendments to Articles of Organization (majority/%/unanimous?): _______________________ _______________________________________________________________ Insurance needs: ________________________________________________________________ New members: _________________________________________________________________________________________________ ________________________________________
Transfer of membership interests: _________________________________________________ Expulsion of members: ____________________________ Salaries of members: Name ___________________________________ ___________________________________ ___________________________________ Salary ________________________________________ ________________ Financial authority : Name ___________________________________ Authority to Do ________________________________________
Loans to members: ______________________________________________jority/%/unanimous?): __________________________ Fiscal Year: ___________________________________________________________________ Accounting type (cash or accrual?): __________________________________: ____________________________________________ Annual members meeting: Place ______________________________________ Date ____________________ Time _____________
Required vote for members actions: (ma__________ Is qualification in other states necessary? ____________________________________________
LLC Pre-Organization Worksheet
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Company Operating Agreement
Required quorum for members meetings___________________________________________ Proposed bank for company bank account: ___________________________________________ Cost of organization: ____________________________________________________________ ________________________________________________ ________________________________________________ ________________________________________________
Proposed date of first members meeting: _________________________________ __________________________________________ __________________________________________
Proportionate Share of Profits and Losses
______________________________________retention of profits and losses: _______________________________________ Initial indebtedness: $ _________________ Management of the company: Name
__________________________________________ ____________________________________________ ________________________________________________ ________________________________________________ ________________________________________________
Distribution and _____________ __________________________________________ __________________________________________ __________________________________________
Proportionate Share of Profits and Losses
_________________________
Value _________________ _________________ _________________ _________________ _________________ _________________
Members' share of profits and losses: Name
_________________________________________________ _____________________________________ _____________________________________
Value _________________ _________________ _________________ _________________ _________________ _________________ ________________ ________________ Cash/Property/Services _____________________________________ _____________________________________ _____________________________________ ______________________________________ _____________________________________ _____________________________________ _____________________________________ _____________________________________ __________________________tributions: $ Date when due: Name ____________________ ____________________ ____________________ ____________________ ____________________ ____________________
Cash/Property/Services ________________: ________________
LLC Pre-Organization Worksheet
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Name ____________________ ____________________ ____________________ ____________________ ____________________ ____________________ Additional conegistered agent and office address: __________________________ ______________________________________________________________________________ Initial investment total: $ ________________ Date when due_________________ _____________________________________ Phone _________________ _________________ _________________ _________________ _________________ _________________
Limited liability company's r___________________ Address _____________________________________ _____________________________________ _____________________________________ _____________________________________ ____________________s: ____________________________________________________ Proposed members of the company: Name ____________________ ____________________ ____________________ ____________________ ____________________ ___________________ _________________________________ ___________________________________________ _________________________________ ___________________________________________ Number of proposed memberto begin company business: ___________________________________________ Names and addresses of those who will act as organizers: Name Address _________________________________ ______________________________________________________________________
Organization Matters
State of organization: Colorado Company existence (limited or perpetual?): __________________________________________ Proposed date ___________________________________________________________________________ State/local licenses required: ______________________________________________________ Patents/copyrights/trademarks: ________________________________________________________________
LLC Pre-Organization Worksheet
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Type of Business
Purpose of limited liability company: _______________________________________________ __________________ Other places of business: _________________________________________________________ ______________________________________________________________________________ ___________________________________________________________________ Ownership of principal place of business (own or lease?): _______________________________ _______________________________________________________________ ______________________________________________________________________________ Description of principal place of business: ___________________________________________ __________________________________________ __________________________ __________________________ __________________________
Location of Business
Address of principal place of business: _____________________________________________________________________ ________________________ ________________________ ________________________ ________________________ Phone __________________________ __________________________ ________________iability Company
Name _______________________ _______________________ _______________________ _______________________ _______________________ _______________________ Address ________________________ _rnate choices: _______________________________________________________________ ______________________________________________________________________________
Parties Involved in Forming the Limited Lrado Secretary of State 1560 Broadway, Suite 200 Denver, CO 80202
Proposed Name of the Limited Liability Company
First choice: ___________________________________________________________________ Altepany will amend its Operating Agreement.
Instructions for LLC Pre-Organization Worksheet
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LLC Pre-Organization Worksheet Colorado
Name/Address of State Limited Liability Company Department:
Colo be the determination of how the limited liability company will amend the Articles of Organization. Amendments to Operating Agreement: Here should be the determination of how the limited liability com will the company end? Here list any considerations relating to the dissolution of the limited liability company that you may wish to be considered. Amendments to Articles of Organization: Here shouldembers with life and/or disability insurance. New members: Will new members be allowed in the company? Here note the terms and conditions for their entry. Termination of limited liability company: Howeading, consider the types of insurance that you will need, ranging from general casualty to various business liability policies. Also consider the need for the members or the company to provide the ml" to "freely" or may be unanimous or majority consent of the other members. Expulsion of members: Here you should consider the terms and conditions for the removal of members. Insurance: Under this hting, a decision should be noted as to whether and how members are to be allowed to transfer their ownership interests in the limited liability company to third parties. This may range from "not at ale loans directly to its members. Salaries to members: Here you should decide if the members will earn a salary for their work on behalf of the company. Transfer of membership interests: Under this lissign checks, borrow money in the company name, or sign documents in the name of the limited liability company. Loans to members: In this item, decide if you wish the company to have the ability to makhosen in advance. Please consult with a competent accounting professional.
Instructions for LLC Pre-Organization Worksheet
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Financial authority: Here list the authority of each proposed member to set higher and can be made to be unanimous. Fiscal year and accounting type: For accounting purposes, the fiscal year and accounting type (cash or accrual) of the limited liability company should be ce limited liability company that must vote in the affirmative in order to officially pass any member business. This is normally set at a "majority" (more than 50 percent), although this figure can be he annual members meeting should be specified. Required vote for member action: Once it is determined that a quorum of members is present at a meeting, this is the percentage of ownership shares of thrder to officially transact any company business. This is normally set at a "majority" (over 50 percent), although this figure can be set higher. Annual members meeting: The date, time, and place of tto consult a competent business attorney. Required quorum for members: This is the percentage of ownership of shares in the limited liability company that must be represented at a members meeting in oiability company from another state is referred to as a "foreign" limited liability company. If you desire that your limited liability company qualify for activities in another state, you are advised necessary to "qualify" the limited liability company in that state. This generally requires obtaining a Certificate of Authority to Transact Business from the other state. In this context, a limited ldirect costs of the organization process. Out-of-state qualification: If the limited liability company desires to actively conduct business in a state other that the main state of organization, it is ilable at the web address listed above). This cost should also reflect the cost of obtaining professional assistance (legal or accounting); the cost of procuring the necessary supplies; and any other : The state fee for organization in Colorado is a filing fee of $50. If the Articles of Organization are filed electronically, the filing fee is $0.99. (Please note that a complete fee schedule is avatermine the bank which will handle the company accounts. Obtain from the bank the necessary bank resolution form, which will be signed by the members at the first members meeting. Cost of organizationosed for holding the first meeting of the members, at which the company Operating Agreement will be officially adopted Proposed bank for company bank account: In advance of organization, you should des only, or members and managers, or managers only, note the decision here. Also note who will actually comprise the management of the company. Date of first members meeting: This will be the date prop a portion of the profits for reinvestment, note that here.
Instructions for LLC Pre-Organization Worksheet
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Management of the limited liability company: If the business is to be managed by memberions of the members to the company. Distribution of profits and losses: Here decide how the limited liability company will distribute its profits and losses to each partner. If the company will retains heading is noted how the members decide in what proportions the profits and losses of the business will be distributed to the members. This may, but need not, be based on the amount of the contribut, services, or property, list them here. Initial indebtedness: If there is to be any initial indebtedness for the limited liability company, please list it here. Share of profits and losses: Under thieferred to as "paid-in capital." List also the dates on which the contributions are to be made. Additional contributions by members: If there are to be planned additional member contributions of moneyoperty that will be transferred to the limited liability company upon its beginning business. This transfer will be in exchange for ownership interests in the limited liability company. This is also r need not be a lawyer. Normally, the main owner or the attorney of the limited liability company is selected as the registered agent. Initial Investment: This figure is the total amount of money or pr for the service of process (that is: to accept subpoenas or summons on behalf of the limited liability company). The person need not be a member of the limited liability company. The registered agentstreet address of the person who will act as the registered agent of the limited liability company. All states require that a specific person be available as the agent of the limited liability companyn Colorado, it is required that these names and addresses be stated in the Articles of Organization. Limited liability company's registered agent and address: Here you should list the name and actual rs for a limited liability company is one. Members may be natural persons or business entities. Proposed members: Here you should list the names and addresses of the proposed members of the company. Ion (or persons) who will prepare and file the Articles of Organization. In Colorado, organizers must be either a natural person or a member. Number of members: In Colorado, the minimum number of membeticles have been found to be non-conforming. The effective date may also be delayed if so specified in the Articles, up to 90 days after the official approval date. Organizers: This should be the persess conducted on behalf of the proposed limited liability company. Note that in Colorado, the effective date will be retroactive to the date of submission of the Articles of Organization unless the Arexistence. Until this date (actually, until the state formally approves the Articles of Organization), the organizers of your limited liability company will continue to be legally liable for any busine perpetual.
Instructions for LLC Pre-Organization Worksheet
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Proposed date to begin company business: This should be the date on which you expect the limited liability company to begin its legal should be organized in the state in which it will conduct business. Company existence: The choices here are perpetual (forever) or limited to a certain length. In virtually all cases, you should choosarks: If patents, copyrights, or trademarks will need to be transferred into the limited liability company, they should be noted here. State of organization: In general, the limited liability company ing, or other forms of licenses. If necessary, check with a competent local attorney for details regarding the types of licenses required for your locality and business type. Patents/copyrights/trademr sales tax license. A Federal tax ID number must be obtained by all limited liability companies. Additionally, certain types of businesses will require health department approvals, state board licens." State/local licenses required: Here you should note any specific requirements for licenses to operate your type of business. Most states require obtaining a tax ID number and a retail, wholesale, oited liability company: All states provide for the use of an "all-purpose" business purpose clause in describing the main activity of the business; for example, "to conduct any and all lawful businesshe address of the actual physical location of the main business. It may not be a post office box. If the limited liability company is homebased, this address should be the home address. Purpose of limisting should provide the names, addresses, and phone numbers of all of the people who are involved in the planning stages of the limited liability company. Principal place of business: This must be tLimited Liability Company," "Limited," or the abbreviation "LLC" or "L.L.C." The word "Limited" may be abbreviated as "Ltd." and the word "Company" may be abbreviated as "Co." Parties involved: This ly explain the business of the limited liability company through the choice of name. In Colorado, a company name may be reserved for 120 days for a fee of $10. The company name must contain the words "s often crucial to the success of a limited liability company. The name must not conflict with any existing company names, nor must it be deceptively similar to other names. It is often wise to clearlation will save you time and trouble. Please note that you can also download state forms and fee schedules at http://www.sos.state.co.us/pubs/business/main.htm. Company name: The selection of a name i information on organization of a business limited liability company in the State of Colorado, as state laws and fees charged for organization are subject to change. Having the latest available informganization Worksheet - Colorado
Address of state limited liability company department: The address is listed on the Worksheet. You should write to this department immediately, requesting all availableliability, or tort (including negligence or otherwise) arising in any way out of the use of these materials. An attorney should be consulted for all serious legal matters.
Instructions for LLC Pre-Org, but not limited to, procurement of substitute goods or services; loss of use, data, or profits; or business interruption) however caused and on any theory of liability, whether in contract, strict partners, or affiliates, or ii) the providers, authors or publishers of the forms, be responsible or liable for any direct, indirect, incidental, special, exemplary, or consequential damages (includinties of merchantability, suitability or completeness for any of the materials for your particular needs. The materials are used at your own risk. In no event will: i) FindLegalForms, Inc, its agents, The purchase and use of these materials is subject to the "Disclaimers and Terms of Use" found at findlegalforms.com. These materials are provided "AS-IS." We do not give any express or implied warranary of State or visit their website at http://www.sos.state.co.us. Disclaimer No Attorney-Client relationship is created by use of these materials. FindLegalForms, Inc. does not provide legal advice. re-Organization Checklist Document Filing Checklist Note: Please note that the state specific information provided in this packet may change. To ensure its accuracy, please contact your state's Secret of the company with vital support for later decisions that may be required. Included in this kit are the following: Instructions for completing Pre-Organization Worksheet Pre-Organization Worksheet Pt problems of company management in advance. The use of a written worksheet will also provide all persons involved with a clear and permanent record of the information. This may provide the principalssions regarding the questions of voting rights, distribution of profits, amounts of contributions, and other management decisions often will enable potential associates to resolve many of the difficulmong the persons who are desiring to form the limited liability company. Often, conflicts and demands are not known until the actual process of determining the company's structure begins. Frank discusty company's purpose, structure and governance prior to organization within the State of Colorado. The process of preparing this worksheet will also help uncover any potential differences of opinion aInformation LLC Pre-Organization Kit - Colorado
Provided under agreement with copyright holder, © Nova Publishing Company 2004
This kit provides tools for determining the details of a limited liabili Colorado
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Colorado Limited Liability Company Pre-Organization Kit
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