One of the things you want to know when trying to do business with a Colorado firm is whether the business is in good standing with the state. A business that has complied with all legal requirements, such as submitting yearly reports and paying taxes, is said to be in good standing. Here’s how to determine if a business is legitimate in Colorado.
Go to the “Business” tab on the Colorado Secretary of State’s website first. From there, you may conduct a name- or entity-ID-based search for the business. Each business is given a special identification number by the Secretary of State’s office, known as the entity ID number. If you don’t know the entity ID number, you can look it up by doing a name-based search for the business.
Once you’ve located the business, click on its name to view its financial information. This will reveal its present standing, which should be “good standing” if the business has complied with all legal requirements. Additionally, you may view the company’s incorporation date, registered agent, and headquarters.
The Secretary of State’s office can provide a certificate of good standing upon request if you require evidence of a company’s legal standing. You may acquire this certificate online or by mail for a $20 charge. Visit the Secretary of State’s website and select the “Certificates” page to place an online order. Select “Certificate of Good Standing” and type the name of the business you’re looking for from there. After that, a $20 fee and a request for your contact information will be presented to you.
Most of the time, doing business with a corporation in Colorado does not necessitate having a certificate of good standing. As part of their due diligence procedure, some banks and other financial institutions, however, might demand it. If you’re not sure if you require a certificate of good standing, you should speak with a financial or legal professional.
Last but not least, you can utilize the Secretary of State website to see if a business name is available if you want to start a business in Colorado. You only need to click on the “Business” page and choose “Name Availability Search.” From there, you can look for open company names and reserve one if it is.
In conclusion, it is a quick and easy process to check a company’s standing in Colorado through the Secretary of State’s website. For $20, you can order a certificate of good standing if you need proof of your good standing. To transact business with a Colorado-based company, however, this certificate is typically not necessary. Additionally, you can utilize the Secretary of State’s website to verify the availability of business names if you want to launch a firm in Colorado.