If you’re moving to Colorado and you want to take your limited liability company (LLC) with you, you have a few options. But the easiest is a process known as conversion. Here’s what you need to know:
How do I move my business to Colorado?
To move your business to Colorado, you’ll have to go through a process called “conversion,” which is called “domestication” in most other states. This process allows foreign business entities to effectively change their state of formation to Colorado, which will make things easier when it comes to filing annual reports and paying taxes.
What’s CO’s Combined Statement of Conversion?
Colorado’s Combined Statement of Conversion form is an official form you’ll have to file with the Colorado Secretary of State online. You’ll first be asked to type in your preferred business name to ensure it isn’t already taken. And if all goes well, you’ll then provide basic information about your business (i.e. former address, new Colorado address, etc.).
The Colorado Secretary of State’s office includes a set of instructions for filling out the Combined Statement of Conversion. When filing as an out-of-state entity, be sure you scroll down to the instructions for an entity “not on file with our office.”
Does a ‘statement of conversion’ need a statement?
According to CO Rev Stat § 7-90-201.7, businesses that file Combined Statement of Conversion forms must also provide—you guessed it—a statement “that the converting entity has been converted into the resulting entity.” You’ll include this statement with the state’s form when you file it online.