Most Colorado business owners form an limited liability company (LLC) but are not fully aware of the pros and cons of doing so. This short section will give you an overview of LLCs and it function as a business entity in Colorado.
What is a Colorado LLC? A Colorado limited liability company (LLC) is an unincorporated but registered business entity whose members are protected from personal liability for company debts and are allowed to participate in the management of the business in any desired degree.
LLC Formation: An LLC in Colorado is created under Colorado law. It comes into legal existence when articles of orgnaization are filed with the Colorado Secretary of State.
LLC Legal Documents
The articles of organization and the operating agreement are the governing legal documents for the LLC. Ensure that you have a Colorado business attorney assist you in this matter.
Fundamental Characteristics of the Colorado LLC: Limited liability of LLC members for company debts, FLexibility of Management and Capitalization, Income tax treatment - unless the LLC elects otherwise, it will be treated as a partnership for federal income tax purposes if it is a multi-member LLC and as a Sole proprietorship it is a single-member LC
Wednesday, September 12, 2007
Wednesday, September 5, 2007
Taking the children out of state
This issue comes up quite frequently during a divorce and custody battles. When a divorce action is filed, an automatic stay goes into effect. This means that spouses should refrain from such things as closing out accounts, canceling insurance policies and most of all not to take the child or children out of state without the court's permission.
To take the child our of state without such permission is equivalent to a felony in Colorado (kidnapping). This is a serious offense - a felony in Colorado. If you believe that you are justified, always seek the advice of an attorney and ask the court's permission.
To take the child our of state without such permission is equivalent to a felony in Colorado (kidnapping). This is a serious offense - a felony in Colorado. If you believe that you are justified, always seek the advice of an attorney and ask the court's permission.
Wednesday, August 29, 2007
Unregistered Vehicles
Are you Driving Without Valid Vehicle Registration?
In Colorado, traffic laws make it unlawful to operate a motor vehicle when the vehicle has never been registered with the Colorado state department of motor vehicles (or motor vehicles bureau) if the vehicle is primarily used in Colorado or the vehicle's once-valid registration has expired (i.e. required fees and filings were not submitted to the state motor vehicle department within the registration period).
In Colorado, as in many states, penalties for driving a vehicle whose registration has expired will increase the longer the registration has lapsed. For example, if the vehicle's registration expired less than 6 months ago, the infraction might be considered a non-moving violation. But if the vehicle's registration expired more than 6 months ago, the offense may be considered a moving violation, which shows up as points on a driving record, and may lead to increased automobile insurance rates. Colorado traffic laws differentiate between operating a vehicle that is not registered, and operating a vehicle without proof that the vehicle is registered (i.e. when a driver of a properly registered vehicle fails to carry a required registration certificate, or fails to display current registration stickers). In most states, certain types of vehicles need not be registered -- including off-highway vehicles, stored vehicles, or vehicles for which a non-operating has been filed with the state department of motor vehicles.
In Colorado, traffic laws make it unlawful to operate a motor vehicle when the vehicle has never been registered with the Colorado state department of motor vehicles (or motor vehicles bureau) if the vehicle is primarily used in Colorado or the vehicle's once-valid registration has expired (i.e. required fees and filings were not submitted to the state motor vehicle department within the registration period).
In Colorado, as in many states, penalties for driving a vehicle whose registration has expired will increase the longer the registration has lapsed. For example, if the vehicle's registration expired less than 6 months ago, the infraction might be considered a non-moving violation. But if the vehicle's registration expired more than 6 months ago, the offense may be considered a moving violation, which shows up as points on a driving record, and may lead to increased automobile insurance rates. Colorado traffic laws differentiate between operating a vehicle that is not registered, and operating a vehicle without proof that the vehicle is registered (i.e. when a driver of a properly registered vehicle fails to carry a required registration certificate, or fails to display current registration stickers). In most states, certain types of vehicles need not be registered -- including off-highway vehicles, stored vehicles, or vehicles for which a non-operating has been filed with the state department of motor vehicles.
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