How To Change an LLC Name in Colorado? (Step by Step Guide)
As an entrepreneur in Colorado who wants to change their LLC name, you should understand the filing steps involved to have your amendment request approved and to keep your limited liability company in compliance with Colorado state requirements.
After collaboration with seasoned LLC specialists, we determined which domestic and foreign name amendment documents and procedures you will be needing to complete the process.
Here's a detailed summary of all pertinent information about changing your LLC name in Colorado.
Quick Summary
- To change an LLC name in Colorado, you can file the Articles of Amendment or Statement of Change with the Secretary of State.
- It costs a $25 filing fee to change a Colorado business name.
- According to the Colorado Secretary of State, about 20% of LLCs file a Certificate of Correction to amend errors in official documents, ensuring record accuracy.
- I always emphasize that, after changing your LLC name, you should update your business records, notify authorities, change internal documents, and check if you need to reapply for an EIN with the IRS.
3 Steps To Change an LLC Name in Colorado
Follow these three steps to change your LLC name in Colorado correctly.
1. Choose a New Colorado LLC Name
The first step to changing your entity name is to select a new one that meets all the following Colorado naming requirements.
- Your new name must be unique and not in use by other companies.
- Your new business name must contain the words "Limited Liability Company" or the abbreviations "LLC" or "L.L.C."
- Your name must be distinguishable and not easily confused with another entity's.
- Your name must not contain certain words like FBI or indicate any federal/governmental agency affiliation.
Once you have a name in mind that meets the naming rules, you can do a name search to see if it's available for use.
The Colorado Secretary of State facilitates two ways to perform a business name search:
- A name availability search indicates whether the name is available and gives you a rundown of similar titles already in use [1].
- A business database search shows all similar names to your desired name but doesn't show if it's available for use [2].
"To prevent rejection of your filing due to a name already taken, conduct an availability search for your desired Colorado LLC name beforehand using the state's business entity search."
- Jon Morgan, CEO, Co-Founder & Editor-in-Chief of Venture Smarter
2. Get Member Approval For Name Change
To get member approval for a Colorado LLC name change, follow these steps:
- Hold a meeting: Schedule a meeting with all LLC members.
- Propose the new name: Present the proposed new name, ensuring it complies with Colorado's naming requirements.
- Vote: Conduct a vote among members. Approval typically requires a majority, but check your LLC's operating agreement for specific voting rules.
- Document the decision: Record the decision and the vote count in the meeting minutes as official documentation of member approval.
3. File Articles of Amendment
To change an LLC name in Colorado, you can file and submit any of these two documents:
- Statement of Change
- Articles of Amendment
You can only complete the process online on the official Secretary of State website; no paper submissions are allowed [3]. According to the Colorado Secretary of State, nearly 100% of these submissions are made digitally, streamlining the name change process for businesses statewide.
Articles of Amendment filed online are processed immediately, but in our experience, it took up to 1 business day.
You must provide the following details when completing the Articles of Amendment form:
- Current business entity name
- Business ID number
- Date of name amendment
- New business name
- Name and official signature of authorized individuals.
- The mailing address of the filer
- Correct filing fee
If you're doing business under a DBA or trade name and want to change it, you can file a Change of Trade Name form with the Colorado Secretary of State.
In our experience, we completed the filing process by hiring a licensed LLC professional service with pre-filled forms that were easy to edit.
What To Do After You Change Your Colorado LLC Name?
After you change an LLC name, you need to do the following:
- Update your operating agreement: Revise your LLC's operating agreement to reflect the new business name, ensuring all legal documents are consistent.
- Update licenses and permits: Amend any business licenses and permits to display your new LLC name, maintaining legal compliance.
- Notify government agencies: Inform relevant government bodies, including the IRS and state tax agencies, about your LLC's name change.
- Update contracts and agreements: Revise existing contracts and business agreements to include your LLC's new name, maintaining their validity and enforceability.
- Inform banks and financial institutions: Update your LLC's name with all financial institutions to ensure banking and financial transactions continue smoothly.
- Notify clients and customers: Communicate the name change to your clients and customers to maintain brand recognition and business relationships.
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Alternatives to LLC Name Change
Drawing from our experience, Colorado LLCs considering a name change have alternatives like registering a "Doing Business As" (DBA) name for flexibility in branding, or filing a Certificate of Correction if the original name filing contained errors needing rectification.
DBA
In Colorado, an LLC can register a DBA, or "Doing Business As" name, allowing it to operate under a different name without legally changing its official name.
This option is ideal for branding purposes or for operating multiple business ventures under one LLC, offering flexibility while maintaining the original LLC's legal structure and tax status.
Certificate of Correction
If the original name filing of an LLC in Colorado contains errors, a Certificate of Correction can be filed.
This is used to correct mistakes in the LLC's official documents filed with the state, such as misspellings or typographical errors in the business name.
It's a straightforward process that amends the original filing without the need for a full legal name change procedure.
According to the Colorado Secretary of State, around 20% of LLCs utilize this process to amend their official documents, ensuring accuracy in state records.
FAQs
How Much Does It Cost To Change a Business Name in Colorado?
It costs $25 to change a business name in Colorado. The filing fee covers the processing of the Articles of Amendment.
How Long Does It Take To Change a Business Name in Colorado?
It takes a few minutes up to 1 business day to change a business name in Colorado online.
References:
- https://www.coloradosos.gov/biz/NameCriteria.do
- https://www.coloradosos.gov/biz/BusinessEntityCriteriaExt.do
- https://www.sos.state.co.us/pubs/business/FAQs/entityNames.html
