Business Formation & Entity Setup
Form your business the right way from day one, with tax-smart structure, clean accounting setup, and full compliance support.
Perfect for startups, new owners, and growing businesses ready to formalize operations.
Choosing the Right Business Structure
The entity you choose impacts your taxes, liability, and growth potential. We help you make the right call.
Most Common Structures
Flexible ownership, liability protection, and pass-through taxation
Best for: Freelancers, consultants, small businesses, rental properties
Tax-saving potential for profitable businesses through reasonable salary + distributions
Best for: Businesses earning $60K+ in annual profit
Separate entity taxation, ideal for scaling and raising capital
Best for: Startups seeking investors, high-growth companies
Flexible profit sharing and pass-through taxation for multiple owners
Best for: Professional firms, joint ventures, family businesses
We Help You Decide Based On
- Income level and profitability
- Number of owners
- Tax goals and efficiency
- Liability considerations
- Future growth plans
- Investor requirements
Not sure which structure is right? Schedule a free consultation and we'll walk you through the options.
We provide accounting and tax guidance, legal counsel may be recommended for advanced legal structuring.
Business Formation Services
Everything you need to start your business the right way, from filing to tax setup to ongoing compliance.
Entity Formation & Filing
- LLC Formation
Complete Colorado LLC setup with Articles of Organization
- S-Corp Election (Form 2553)
IRS election for tax-efficient structure
- C-Corp Formation
Full corporate setup for investors and scaling
- Partnership Registration
Multi-member entity formation and agreements
- Nonprofit Formation
501(c)(3) setup with IRS tax-exempt application
- DBA / Trade Name Registration
Register your doing-business-as name
Legal & Compliance Documents
- Operating Agreement Preparation
Custom LLC operating agreement for your structure
- Corporate Bylaws
Governance documents for corporations
- Registered Agent Service
Colorado registered agent with physical address
- Annual Report Filing Support
Stay compliant with state requirements
- Business License Guidance
Local and state license requirements
Tax Registration & Setup
- EIN Guidance
We explain the IRS's free EIN process, you apply directly at IRS.gov
- Colorado Tax ID Registration
State tax account setup
- Sales Tax License
Colorado sales tax registration (if applicable)
- Payroll Tax Registration
State and federal payroll accounts
- Estimated Tax Setup
Quarterly payment schedules and amounts
Accounting & Banking Setup
- Bank Account Guidance
Bank-ready documents for business account opening
- QuickBooks Setup
Chart of accounts and bookkeeping system
- Expense Tracking Systems
Categories, rules, and automation
- Receipt & Document Organization
Cloud storage and filing systems
Ongoing Compliance Support
- First-Year Compliance Calendar
Deadlines, reminders, and due dates
- Annual Report Reminders
Never miss a state filing
- Tax Deadline Management
Quarterly and annual tax deadlines
- Corporate Minutes Support
Required documentation for corps
Growth & Restructuring
- S-Corp Conversion Analysis
When does S-Corp election make sense?
- Multi-Entity Structuring
Holding companies, subsidiaries, and asset protection
- Partner/Member Addition
Adding owners to existing entities
- State Expansion Support
Registering in additional states
Need a custom package? We'll tailor formation services to your specific business and goals.
Tax & Compliance Setup
Starting a business means navigating tax registrations and ongoing compliance. We handle the setup so you don't miss a step.
EIN & Tax ID Registration
Federal EIN, Colorado tax ID, and any required local registrations, filed correctly the first time.
Estimated Tax Planning
Know what to pay and when. We set up quarterly estimated tax schedules so you're never surprised.
Compliance Calendar
Annual reports, tax deadlines, and renewal dates, all organized with reminders.
Your First-Year Compliance Checklist
Common Formation Mistakes to Avoid
We've seen these mistakes cost business owners thousands. Here's how to avoid them.
Choosing the wrong entity type
Risk: Higher taxes, unnecessary complexity, or missed liability protection
Our approach: Get tax-first advice before filing. We analyze your income and goals before recommending a structure.
Missing S-Corp election deadline
Risk: Lose a full year of potential tax savings (15.3% on distributions)
Our approach: We track the Form 2553 deadline and file on time, or file late-election relief if you missed it.
Mixing personal and business finances
Risk: Loses liability protection (piercing the corporate veil) and creates tax issues
Our approach: We help you open a proper business bank account and set up clean bookkeeping from day one.
Skipping the operating agreement
Risk: No documented ownership structure, profit sharing, or dispute resolution
Our approach: We prepare a custom operating agreement that protects you and any partners.
Forgetting quarterly estimated taxes
Risk: IRS penalties and a surprise bill at tax time
Our approach: We calculate your estimated taxes and set up a payment schedule so you're never caught off guard.
Missing annual report deadlines
Risk: Late fees, administrative dissolution, or loss of good standing
Our approach: Our compliance calendar reminds you of every deadline, we can even file on your behalf.
What You'll Need to Get Started
Gather these items before your consultation. Don't have everything? We'll help you figure it out.
- Your full legal name (and any partners/members)
- Proposed business name (we'll check availability)
- Business address (can be home address initially)
- Description of what your business will do
- Ownership percentages (if multiple owners)
- Social Security Number or existing EIN
- Driver's license or government ID
- Credit/debit card for state filing fees
Not sure about your business name or structure?
No problem, we'll help you decide during the consultation. Many clients come in with just a business idea.
Business Formation FAQs
Common questions about LLC formation, S-Corp elections, and getting started.
Ready to Make It Official?
Get your LLC or S-Corp set up the right way, with tax-smart structure and full compliance support.
Related Services
Important disclosure about government services
Centennial Accounting Group is a private accounting and tax firm. We are not a government agency and are not affiliated with, endorsed by, or acting on behalf of the IRS, the Colorado Secretary of State, or any other government body. Business registration and Employer Identification Number (EIN) applications can be completed directly with those agencies at no charge, or for the agency's own filing fee. Any fees we charge are for our professional preparation, advisory, and filing-support services only, they are separate from, and in addition to, any government fee.
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