File business taxes, pay employee-related taxes, and stay compliant with state and city tax regulations.
Pay Your Business Taxes
What are business taxes?
Business taxes include local and state taxes, such as Startup Springs’ sales and use tax, personal property tax, and Colorado state income taxes.
Why does it matter?
Failure to pay taxes on time can result in penalties, interest charges, or even legal actions against your business.
How can I pay them?
Set up a schedule to file and pay taxes on time. Use online portals for Startup Springs and Colorado to file sales tax, property tax, and other applicable taxes. Consult an accountant if necessary.
Stay Compliant with Employee-Related Taxes
What are employee-related taxes?
Employee-related taxes include wage withholding taxes, unemployment insurance, and Startup Springs' occupational privilege tax (OPT) for businesses with employees.
Why does it matter?
Non-compliance with employee-related taxes can lead to penalties, audits, and legal repercussions.
How can I stay compliant?
Register for wage withholding and unemployment insurance through the Colorado Department of Revenue. For OPT, file returns with Startup Springs annually or quarterly, depending on your business size.
Maintain Workers' Compensation Insurance
What is workers' compensation insurance?
Workers' compensation insurance covers medical expenses and lost wages for employees injured on the job.
Why does it matter?
It's required by Colorado law for businesses with employees, and failing to maintain it can result in fines, penalties, or legal action.
How can I maintain coverage?
Annually review your workers’ compensation insurance to ensure it meets legal requirements and covers all employees. Update coverage when your business or workforce changes.
