Colorado Secretary of State reduces withdrawal fee

DENVER — The Colorado Secretary of State has reduced the fee for out-of-state entities that withdraw from doing business in Colorado.

The fee is being slashed significantly, from $125 to $10. It will go into effect April 1.

The goal, Secretary of State Wayne Williams said in a news release, is to have a more accurate business registry for Colorado. Those businesses formed outside of Colorado but no longer doing business in the state will have more incentive to delist from the Secretary of State database.

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As of the beginning of March, more than 66,000 of the 635,332 entities in good standing with Secretary of State were registered foreign entities.

The reduction is the latest in a series of reductions Williams has made over the last six years. In October, the fee for dissolving in-state businesses dropped from $25 to $10.