State of Colorado Businesses + How to Keep Your Business Up to Date

Small businesses are the heartbeat of Summit County – from the coffee shops that fuel our early mornings to the stores that keep us stocked up on essentials. 

But running a business in our corner of Colorado involves so much more than just opening your doors each morning.

Think about everything on your plate right now:

• Filing that annual LLC Periodic Report (did you know you could lose your business name if you forget?)
• Keeping up with Colorado’s new $14.81 minimum wage – or is it $18.81 if you have Denver employees?
• Managing FAMLI program payroll deductions and contributions
• Tracking which employees qualify for overtime after 12 hours (not just 40 hours per week!)
• Renewing local business licenses in Frisco, Breckenridge, or Silverthorne – each with different requirements
• Properly classifying seasonal workers vs. independent contractors
• Filing Corporate Transparency Act reports to FinCEN within 30 days
• Maintaining compliant break schedules during tourist rushes

Feeling a bit overwhelmed? Take a deep breath.

First, you’re not alone in this. Every business owner from Keystone to Copper Mountain faces these same challenges. 

Second, most of these compliance tasks become routine once you have systems in place. And third? That’s exactly why the Summit County Chamber of Commerce exists – to help make sense of it all.

Let’s break down the key elements your Colorado business needs to know in 2025 – and how you can get it all done without the stress of ownership keeping you up at night!

Annual Colorado Business Renewals in 2025

Did you know that Colorado has over 600,000 businesses registered with the Secretary of State? But thousands of them accidentally lapse each year because owners forget one simple $25 filing.

Your LLC/Corporation Periodic Report

Your annual Periodic Report is the cheapest insurance you’ll ever buy. For just $25 per year, you maintain your legal business status, protect your business name, and keep your liability protections intact. 

Luckily, you’ve got a five-month window to file:

• Two months before your formation anniversary month
• Your anniversary month itself
• Two months after

Set three calendar reminders – one at the start of your filing window, one in your anniversary month, and a “last chance” reminder near the end.

Local License Renewals

If you thought state requirements were enough, remember that each Summit County town has its own renewal requirements as well!

• Frisco: Annual renewal with updated contact information
• Breckenridge: Business license renewal plus any special permits
• Silverthorne: Don’t forget to check if you need additional permits for special events

If you operate in multiple towns (like many of our members do), you’ll need to track renewals for each location. 

Get this done today by heading over to the Colorado Secretary of State’s website and checking your business status now – a few minutes of your time is worth one less worry off your mind.

Labor Law Changes in 2025

While many parts of running a business remain the same, Colorado employment laws have changed significantly in 2025. Whether you run a business of two or twenty, you’ll want to know how these updates may impact your company.

Minimum Wage Updates

The statewide minimum wage is now $14.81 per hour. But there’s more complexity to the rate than just a single state-wide wage:

• Denver and some other cities have higher minimums (Denver is $18.81/hour)
• Employers are required to pay the highest applicable rate
• Tipped employees have different rules, but must still reach minimum wage with tips

For Summit County businesses, this could impact your seasonal hiring budgets. That ski instructor or summer trail guide now costs more; you need to factor this into your pricing.

FAMLI Program Requirements

Colorado’s paid family and medical leave program is no longer optional. Employees can take up to 12 weeks of paid leave (16 weeks for pregnancy complications), and employers must handle payroll deductions and contributions.

During peak season, this can create scheduling challenges. Start cross-training staff now so you’re ready when someone needs to take leave during your busiest times.

Remote Work Rules

If you’re one of the Summit County businesses that have employees working from home, there are a few new regulations as well:

• Reimbursement for work-related expenses (internet, office supplies)
• Clear guidelines on working hours
• Equal treatment for promotions and benefits

Many Summit County businesses now have hybrid setups – staff working remotely during slow seasons or from Denver offices. Make sure your policies reflect these new requirements.

Summit County Business Specifics

Running a business here isn’t like running one in Denver or Boulder. Our mountain economy creates special compliance considerations that come into play with seasonal workforce classifications and tourism compliance requirements.

Seasonal Workforce Classifications

The state is starting to pay closer attention to how businesses classify their workforce, and this matters as many Summit County businesses rely on seasonal help:

• Ski instructors: Employee or contractor?
• Summer tour guides: How much control do you have over their work?
• Festival vendors: Are they actually independent workers?

Businesses that don’t classify correctly could face steep penalties. The key test: Do they control their own work schedule and methods? If you’re dictating when and how they work, they’re likely employees.

Tourism Compliance

New pricing transparency laws (HB25-1090) directly impact tourism businesses:

• All mandatory fees must be included in advertised prices
• No more “resort fees” added at checkout
• This applies to lodging, activities, and equipment rentals

Your competitors are adjusting their pricing displays, and you’ll want to make sure you’re in line with compliance and regulatory requirements to avoid any penalties or reputation hits.

New to Colorado Business?

Just starting out? Colorado makes it easy to join the economy, no matter what you offer to the community. The best way to get started is with three simple steps:

1. Research: Learn all about how to start a business in Colorado, including the legal requirements and necessary paperwork. You can find information on the Colorado Secretary of State website.
2. Register: Once you have all your paperwork in order, you need to register with the state. This ensures that your business is recognized and compliant with tax laws.
3. Access: Now that you’re registered, you can access the state’s various resources and services to help grow your business.

Take Action Today to Stay Business Ready in 2025

Running a compliant business in Summit County doesn’t have to keep you up at night. 

Yes, there’s a lot to track. But with the right systems and support, it becomes just another part of your routine – like checking the snow report or restocking inventory.

Here are three things you can schedule right now to keep yourself ahead in 2025:

1. Today: Log into the Colorado Secretary of State website and verify your business status
2. This Week: Review your minimum wage compliance and update one employee policy
3. This Month: Attend our next Chamber compliance workshop

Questions about compliance? Need help getting started? Contact the Summit County Chamber at (970) 668-2051 or email [email protected].