The Colorado Corporations and Associations Act (the “CCAA”) regulates the authority of foreign entities to transact business or conduct activities in Colorado. A “foreign entity” includes an entity formed under the laws of another state. For example, an entity formed under the laws of Delaware would be considered a foreign entity. A foreign entity is prohibited from transacting business or conducting activities in Colorado until the foreign entity has filed a “Statement of Foreign Entity Authority” with the Colorado Secretary of State.
However, certain types of foreign entities are excepted from this requirement. Foreign entities that only carry on certain activities in Colorado are also excepted from this requirement because they are not deemed to be transacting business or conducting activities in Colorado.
HOW WE CAN HELP
Dennis M. Lanphier, Esq., CPA, LL.M., is an experienced business attorney and certified public accountant who can help you determine whether your business is a foreign entity required to file a “Statement of Foreign Entity Authority” in Colorado and file the document on its behalf if necessary.