The process for creating a corporation in Minnesota differs slightly from state to state. In some cases, you must register a corporation with the Secretary of State’s office; in others, it is done online. To find out what is required in your state, check with the Minnesota Secretary of State s website.
Article 5 of Chapter 347 provides the basic requirements for forming a corporation in Minnesota. Article 5 requires that corporations be formed under the laws of Minnesota. This includes having a certificate of organization filed with the secretary of state. If you do not want to form a corporation, you can choose to register an LLC instead.
To create a corporation, you must submit Articles of Incorporation to the Secretary of State‘s office. You may use the same documents used to create a limited liability company, but you must include a $25 fee with each application. Once you have submitted your articles, you must wait 30 days before you can start doing business. After that period, you must pay another $25 fee to renew your corporate charter.
If you have questions about how to incorporate a business, contact us today! We can help you set up your corporation quickly and efficiently.
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Naming Guidelines
There are many things to consider when naming your company. Here are some guidelines to help you avoid common pitfalls.
1. Avoid the following:
a. Using someone else’s trademarked name
b. Using a generic term
c. Using a brand name that could cause confusion
d. Using a word that might be considered offensive
e. Using a word that is already taken
Registering an agent
A registered agent is required in most states if you conduct business within the state. In Minnesota, it is mandatory to register a corporation or limited liability company (LLC). If you do not hire a registered agent, you must file articles of incorporation or LLC agreement with the Secretary of State’s office. A registered agent is someone who agrees to accept legal notices for the entity and to act as the contact person for the entity. This person does not necessarily need to reside in the same location as the entity. For example, a registered agent could live out of state and still agree to serve as the contact person for a local business.
The registered agent receives important documents such as annual reports, corporate resolutions, and tax returns. He or she also signs contracts on behalf of the entity. When a contract is signed, he or she sends copies of the contract to the entity.
In addition to receiving legal notices, a registered agent also acts as the representative of the entity when the entity needs to make changes to legal filings. For example, if the owner wants to change his name, the registered agent makes the necessary changes to the Articles of Incorporation or LLC Agreement.
Create your LLC Corporation with just 3 easy steps
Steps for Filing Online: Create an Account
When you register, you must supply information about yourself, including your email address, phone number and mailing address. You’ll also need to provide contact information for your employer. Using a professional email account such as Gmail.com is best if you’re self-employed.
To keep your filing status current, you must update your data every three months. This includes updating your name and mailing address. If you change your name, you’ll need to notify the IRS. Contact us for help with this process.
You’ll also need to complete Form SS-4, Application for Employer Identification Number. You’ll need to apply for one online if you don’t already have one. You’ll receive an EIN within 30 days of applying.
Steps in Filing Online: Complete your Articles of Organization
There are many different kinds of Limited Liability Companies (LLCs). Each type has its own set of rules and regulations. Some LLCs require filing additional documents with the Secretary of State, while others do not. If you plan to start an LLC, you must understand what type of LLC you want to form. In addition, it is helpful to know how much information you need to provide to complete the registration process.
Article of Organization: Step One – Choose the Type of LLC You Want to Start
A professional LLC is required if you plan to practice certain professions such as law, accounting, real estate, engineering, architecture, etc. An LLC does not protect your assets; therefore, you cannot lose money because of an LLC. However, an LLC protects your business assets. Therefore, if you plan to run a business, consider starting one.
You can choose from four types of LLCs:
1. Professional LLC – Required if you plan to practice a profession
2. Business LLC – Required if you want to operate a business
3. Nonprofit LLC – Required if you wish to organize a nonprofit entity
Frequently Asked Questions
How long does it usually take for an LLC to be approved in Minnesota?
You can form an LLC in Minnesota, but the process may vary depending on your location.
How do you obtain an LLC?
An LLC is a business entity formed by individuals, corporations and partnerships. The main difference between the three types of entities is how they are taxed. Corporations pay taxes on their profits while individuals and partnerships don’t have to pay any tax at all.
The process for forming an LLC in Minnesota is simple. You will need to file Articles of Organization.
James Rourke is a business and legal writer. He has written extensively on subjects such as contract law, company law, and intellectual property. His work has been featured in publications such as The Times, The Guardian, and Forbes. When he’s not writing, James enjoys spending time with his family and playing golf.
