Colorado is the eighth largest state in the United States, that has spread out in the Wild West. If you dreamed of shooting westerns - the industry of this genre is located in Colorado and about 400 films have been shot, film festivals are held, so it is very beneficial to register companies in the film industry in Colorado.
This is one of the 3 best states for businesses rated by CNBC. The capital with a vibrant business center is Denver's largest city, and the energy center, Wall Street, is also located there.
The minimum wage in Colorado is $11.10/hour (January 1, 2019), which should be considered, if you plan to start a business in Colorado. The state is located between Arizona, Oklahoma, New Mexico, Nebraska, Wyoming, Utah and Kansas. Its economy is based on profits from minerals and the agricultural sector.
It is also rational to set up a Colorado company in the field of nutrition: selling farm products, Mexican food outlets, restaurants, food production, investing in Colorado vineyards, opening a Colorado wine production. Colorado hosts annual food and wine festivals (in the “culinary capital” of Aspen) and steaks.
Grand Valley AVA is in the top 10 best wine regions of the world according to data published in Wine Enthusiast Magazine. It is also popular among investors to open a brewery in Colorado: here is the Napa Beer Valley, so named because of the high density of craft breweries.
The state is based on NORAD, the Air Force Academy, the air base, Fort Carson, and large charitable organizations.
Establishing a business in Colorado is profitable in these areas:
- a forestry;
- a finance;
- a food industry;
- the transport equipment;
- an automotive industry;
- a chemical production;
- a tourism;
- a state fixed income tax is 4,63% (does not depend on income level);
- a federal tax is 21% (for all states);
- a sales tax is 2,9% (from retail sales);
A real estate and a personal business property are taxed in Colorado. You can establish a company in Colorado, if you have a legal address.
Many counties and cities set their additional payments. There are also certain counties with special district taxes:
- a transport region;
- a football stadium;
- Area of Cultural Objects (CD);
- a territory of improvement;
- Regional Transport District (RTA) taxes at various rates.
To open a company in Colorado, you must meet the minimum requirements:
- name the company a non-repeatable name with the a legal form (LLC, FZ LLC, PLC, RO, C/S-Corporations, an individual enterprise SP);
- to appoint 1 or more directors of any residency, legal or physical persons;
- 1 or several shareholders of any residency, legal entities or individuals can register a company in Colorado;
- a local agent;
These conditions are also mandatory if you plan to open an account with Colorado Bank & Trust, Bank of Colorado, The Eastern Colorado Bank or another bank.
If you have any questions about registering a company in Colorado, or if you want to register a company in the USA remotely, contact YB Caseexperts at the numbers indicated in the “Contacts” section.