How to Start an NEMT Business in Colorado: A "Bambi Knows Best" State-By-State Series Part 2: Develop a Business Plan and Get Registered in Colorado
You’ve mapped out the Colorado NEMT market — the peaks and valleys, as vast as the Rockies. Now it’s time to lace up those hiking boots and develop a solid business plan. A well-crafted plan is your way to securing funding, managing operations and navigating Colorado’s unique regulatory landscape.
1 | Choose a Business Structure Your first step in this adventure is picking the right business structure. Think about it as if you had to decide whether you’re snowshoeing or skiing — it affects the way you move forward! In Colorado, common structures include the following:
Sole Proprietorship Partnership Limited Liability Company (LLC) Corporation (C-Corp or S-Corp) Each has its perks when it comes to legal protection and taxes, so be sure to consult with a local legal advisor to pick the best fit for your NEMT goals.
2 | Register Your Business Next up, choose a business name that’ll make you stand out—something as striking as the snow-capped Rockies. Head to the Colorado Secretary of State’s website to register your business name and entity. Once registered, you’ll be officially set to operate.
3 | Get Your EIN If you’re planning to hire employees or just want to keep your finances in order, an Employer Identification Number (EIN ) is a must. You can get one through the IRS website — it’s essential for handling taxes and payroll like a pro.
4 | Sort Out State Taxes Now, don’t let tax season sneak up on you like a surprise snow storm — because before you know it, you could be buried under an avalanche of paperwork! In Colorado, the Colorado Department of Revenue is your go-to for sorting out state taxes, whether it’s sales tax, income tax or other relevant business taxes. They'll also help you figure out if your NEMT business requires additional permits.
5 | Licenses, Permits, and Compliance Depending on where you plan to operate and the specifics of your NEMT services, you may need certain licenses and permits. Colorado requires vehicles used for NEMT to meet strict safety and accessibility standards. You’ll need to ensure your fleet and drivers meet state guidelines, so reach out to Colorado’s Department of Public Health and Environment or the Public Utilities Commission for details.
6 | Small Business Resources Don’t go it alone! Colorado has great small business resources. The Colorado Small Business Development Center (SBDC) offers free advice, workshops and even networking opportunities to help you get started. Additionally, local chambers of commerce across the state are great resources for gaining industry insights and local support.
With your business plan and registration in place, you’re ready to make your mark on Colorado's NEMT landscape. In Part 3 , we’ll guide you through Colorado’s specific regulations and insurance requirements to keep your business running smoothly. Ready to keep trekking along? Follow through with the full series as you continue building your NEMT business in the Centennial State!
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