Comment on State hopes lower fees to dissolve a business will encourage fuller disclosure

State hopes lower fees to dissolve a business will encourage fuller disclosure

Colorado will lower the fee charged to dissolve a business to $10 from $25 starting in October, Secretary of State Wayne Williams said Wednesday. Williams said technological and operating improvements have lowered costs in his office and new business filings have come in stronger than forecast. Together, the two trends created room to cut the fee and give a measure of relief to business owners who typically are under financial duress when they shut down. In the 12 months ended June 30, the state counted 25,018 filings to dissolve a business. Assuming a similar number under the lower fee, the reduction to $10 could cost the state around $375,270. Many businesses that call it quits don’t formally dissolve with the state and their filings turns delinquent.

 

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