Colorado businesses have saved more than $750,000 following a reduction in filing fees for new LLCs and trade names that took effect on July 1, according to a news release from Colorado Secretary of State Jena Griswold.
The reduced filing fees are part of a bigger package that includes lower business property taxes and the redirection of $600 million in federal pandemic assistance to shore up the state’s Unemployment Insurance Trust Fund. That money reduces what employers would have had to otherwise cover in surcharges and higher unemployment insurance premiums.
“This year, we passed legislation to reduce property taxes on businesses by $200 million and used $600 million in federal funds to prevent unemployment insurance cost increases on employers,” said Rep. Lisa Cutter, D-Jefferson County, sponsor of House Bill 22-1001, in a release.
In the first quarter of this year, the state processed 34,661 new business filings, and in the second quarter of 2021, it handled 29,875 new LLC filings, according to the
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