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Written by: Carolyn Young
Carolyn Young is a business writer who focuses on entrepreneurial concepts and the business formation. She has over 25 years of experience in business roles, and has authored several entrepreneurship textbooks.
Edited by: David Lepeska
David has been writing and learning about business, finance and globalization for a quarter-century, starting with a small New York consulting firm in the 1990s.
Updated on February 3, 2023
In Colorado, potential creditors or investors might request a certificate of good standing for your LLC, and you’ll need to be able to provide one or risk the loss of key business financing. Thankfully, this guide provides all the information you need to get this certificate in Colorado.
In Colorado, a certificate of good standing verifies that you’re a legally registered business entity that is up to date on all filings and fees and permitted to do business in the state. You do not have to obtain this certificate to do business in Colorado, or in any state. It is simply used to verify your strong status to third parties such as banks.
Your LLC only needs a certificate of good standing if another party requests one. For instance, a bank might request one if you’re opening a bank account or applying for a loan. The credit firm might request one if you apply for a business credit card, or if you set up credit card processing for customer payments.
If you’re registering as a foreign LLC in another state, you will probably be asked for a certificate of good standing.
A foreign entity is simply a business entity doing business in a state other than the one in which it’s registered. For example, if your business is registered in Colorado but you also do business in Georgia, you’ll need to register a foreign entity in Georgia.
In Colorado, the Secretary of State issues certificates of good standing. Just go to the secretary of state’s website, search for your business entity, and select “certificate of good standing” to obtain the required form. The cost is $0 when you make your request online and you should receive your certificate immediately via email.
You must be registered as a business entity in that state. Operating as a sole proprietorship or a partnership does not require registration in Colorado, so those entities are not able to obtain a certificate of good standing.
Corporations and LLCs, like your business, must be registered with the state, so they are able to obtain the certificate.
Again, a certificate of good standing in Colorado is free when you file online, so it’s well worth the time it takes to apply. This is an official document that proves your business’ financial accountability and could open the door to greater investment and expansion.
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