50 State Series: How to move your LLC or corporation out of Colorado and keep your EIN

Attorney and CPA Chad D. Cummings examines Colorado’s declining tax competitiveness in this presentation. The state has fallen from 22nd to 33rd on the Tax Foundation’s State Tax Competitiveness Index in just six years, not because of major tax hikes, but because it stood still while twenty-three other states cut their income tax rates. Colorado’s flat 4.4 percent individual and corporate rates now lag behind states actively lowering theirs, and the addition of an alternative minimum tax, throwback rule, and other structural burdens continues to increase the overall cost of doing business. Florida and Texas impose no state personal income tax and maintain far more competitive environments. This presentation shows how redomestication allows Colorado business owners to transfer their company’s to Florida or Texas without dissolving the entity, without creating a new company, and on a completely tax-free basis while preserving the same FEIN, contracts, credit history, and bank accounts. If you own a business in Colorado, this could be the strategic move that protects your bottom line for years to come. Learn more: https://www.cummings.law/redomestication/