Page 83 - 2023 CIDI Notebook

Forming your business

Colorado Secretary of State business web site
https://www.sos.state.co.us/pubs/business/businessHome.html
$50.00 Setup LLC
$10.00 a year to renew (IF DONE ONLINE AND ONTIME)

Check for the use of business names prior to using a name
Secretary of State - Search Business database & Name availability
Google

PI BUSINESS & MARKETING BASICS
JOHN MORRIS – EVCO INVESTIGATIONS

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EIN – Employer Identification Number - Federal Tax ID #
If your LLC has only one owner, or member, you may not have to get an LLC EIN. If you run your LLC from
your home and it’s just you, you don’t need an EIN as long as you choose to report your business to the
IRS as a “disregarded entity” (essentially a sole proprietorship) and in fact this is the default option for a
solely owned business because the IRS does not recognize LLCs as business entities. In this situation, you
can use your Social Security number for taxes and do not need an EIN. You report the profits and losses
from your business on your personal income tax statement. ~legalzoom.com
- Prevent Identity Theft
- Add Credibility
- Establish Business Credit / Speed Up Loans
- Opening Bank Account
- Easily Hire Employees

PI BUSINESS & MARKETING BASICS
JOHN MORRIS – EVCO INVESTIGATIONS

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