What Is The Penalty For Declaring A Registered Agent Colorado
Colorado requires all businesses registered with the secretary of country to have a registered agent. The registered agent is a person or company designated to exist the official point of contact between the government, the courts, as well every bit taxing authorities and your concern. The appointment of your registered agent occurs during the filing of your manufactures with the secretarial assistant of land.
The responsibleness of the registered agent is to accept legal notices and tax documents for the business concern; and so forwards them to the appropriate person. Colorado Statutes crave a business to continuously maintain a registered agent and role within the state.
If you lot neglect to maintain a registered agent for your business the secretarial assistant of state tin can assess penalties and fees. Information technology may as well close down your business organisation.
Moreover, if your business doesn't accept a registered agent and is sued; the process server won't be able to give legal find on your business. The lawsuit nevertheless, volition still proceed. As a result, your business could accept a judgement placed against information technology without yous even knowing.
The Colorado statutes let a person who is an possessor, member, or officer of a business to be the registered amanuensis for their own business concern.
Here'south the pro tip: Don't be the registered amanuensis for your own business.
It may seem cheaper and easier to practice it yourself, however similar anything else, it may come at a price. Hither's why.
- Your Privacy – If you determine to be your own agent your address becomes public record. It will exist available for anybody to meet. This could be your employer who you don't want to know about your side hustle. Likewise, if your business is sued, the summons and complaint will be delivered to the address on file. Employees, customers, clients, or fifty-fifty neighbors could witness the result, which would not exist a good expect for you or your business. If you want to operate as an anonymous business concern possessor, yous'll demand a registered amanuensis. Lastly, there is ever the possibility of a revengeful litigant or upset customer showing upwards at your business firm or place of business concern.
- Your Availability – Using your habitation address has additional pitfalls. Colorado requires the registered amanuensis to exist available at the main accost during regular business hours. And so, if ever have a vacation, are not home during business hours, or travel for business a process server volition not be able to serve you papers. The lawsuit will however go along however. A default judgment may exist entered against your business concern without yous knowing information technology.
- Your Fourth dimension – Your business concern's periodic report is due annually. If you're the type of person who'south been delinquent filing with the state because your too busy making money at your business, and so mayhap handing this responsibility off to some one else is all-time for you. Registered agent services provide annual report reminders and updates on whatsoever land requirements.
Registered Agent Package
There are many options for registered agent services. I did a quick Google search and plant the prices range from $35 to $150 per yr. For $100 a year, I offer a registered agent services which include acting as the contact signal for service of legal process in the Land of Colorado, filing the periodic study with the Colorado Secretary of State, monitoring your tape with the secretarial assistant of state for fraud, and free unlimited twenty minute consultations regarding your concern. I desire you to focus on your business, permit me worry about the legal stuff.
Schedule an initial consultation to discover out more.
Contact me if would similar aid with your business organization.
electronic mail: paul@pmillerlawoffice.com phone: (303) 900-2529
This article is for educational purposes but, and does not institute legal advice near your case or situation. There may exist exceptions to the information outlined above. Please consult an attorney if you have specific questions nearly your business organization.
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