If you want to be your own boss, start a new business in Colorado. However, during the planning process do not forget that you need to obtain Colorado Tax ID number for tax identification purposes. The Tax ID number will also facilitate the application for business licenses and permits and bank transactions.
Who would not want to start a business in Colorado, a state where people love to spend on products and services? Colorado and 19 other states are hoping that Amazon will consider their state for its 2nd headquarters. There are heated debates whether incentives should be provided to the giant retail company.
There are offers of economic incentives amounting to millions of dollars. Colorado is offering an incentive in the $100 million range so that Denver can become the site for Amazon’s 2nd headquarters. Other states have not exactly reveled how much they have offered to the company that managed to sell $177.9 billion worth of products and services last year.
According to Geoff Holtzman, any amount is just too much because Americans believe in the concept of fairness. There is nothing fair when states and cities conduct shady deals and offer money to a corporation. Victor Mitchell, a Republican who is running as governor of Colorado said that Amazon is welcome in the state without incentives.
Mitchell believes that cash incentives are offered in exchange for jobs but there are additional incentives for infrastructure, tax abatement, regulatory relief, worker trainings and educational links. Governor John Hickenlooper said the state is pursuing HQ2 100% but it would be a sense of relief if Amazon does not choose Colorado.
Officials who have made the bids are not asking the lawmakers for money. Colorado offered Amazon the same incentives that it offers to other qualified companies. Furthermore, incentives will not be the basis for Amazon’s decision.
Your business may not be as big as Amazon but it is still welcome in the state. However, before starting a new business, it is important to obtain Colorado Tax ID number to ensure that the business is legal. The application which is available online is easy to understand and can be completed within minutes if you have all the necessary information.