Start an LLC in Minnesota

To register your LLC in Minnesota, you’ll have to choose a business name that follows the legal requirements listed in MN Statute § 322C.0108. To put it briefly, your LLC name must:

• Contain the words “limited liability company” or the abbreviation “LLC.”
• Not already be taken by another Minnesota business.
• Not contain the words “corporation,” “incorporated,” or an abbreviation of those two words.
• Not give the impression that your business offers services it isn’t permitted to offer.

Tip: Have a business name in mind? You can check to see if it’s available before you submit your Articles of Organization. You can also reserve your business name if you see it’s available but aren’t quite ready to file yet. Name reservations last one year and cost $35 ($55 online).

Now that you’ve got your business name squared away, it’s time to start thinking about domain names. A domain name is your website’s address, like how ours is northwestregisteredagent.com. Just like us, many businesses choose to use their business name as their domain name to streamline customer interactions and prevent confusion.

Once you register your domain name, you can get a business email address. For example, [email protected]. The main benefit to having a business email address is the professionalism it offers your business. You can organize your communication with clients, customers, and vendors. Plus, it lets you keep your personal email address private.

Tip: When you hire us to start your LLC, you get a domain name free for a year.

Once you’re ready to make your business official, you file paperwork with the Minnesota Secretary of State. This paperwork is called the Articles of Organization. If you file by mail or in person, it is $135. If you file online, it’s $155.

All of the information you put on your Minnesota Articles of Organization will become part of the public record. Here is what’s included:

How do you “file” Minnesota Articles of Organization?

You can file the Articles of Organization online, by mail, or in person.

By mail or in person:

Minnesota Secretary of State – Business Services
Retirement Systems of Minnesota Building
60 Empire Drive, Suite 100
St Paul, MN 55103

Online:

Minnesota Secretary of State

An operating agreement is basically a how-to manual for your business. Operating agreements are not legally required in Minnesota, but most businesses choose to adopt one anyway. Operating Agreements tell other people how to run the business if you’re not there to manage a situation and holds the business accountable to itself. You can put anything from membership interest to dissolving the business in here.

Tip: Since operating agreements are legally binding documents, they can be confusing to start. That’s why we had our attorneys draft a Minnesota Operating Agreement template. It’s free to use!

An Employer Identification Number (EIN) is an unique number given to businesses by the IRS for tax purposes. It’s a lot like a social security number. Technically, you don’t have to get an EIN. But without one, you can’t hire employees, have more than one member, change tax status, or open a business bank account. Plus, you’ll have to use your personal social security number on things like vendor documents if you don’t have an EIN.

Tip: You can get an EIN directly with the IRS or hire us to take care of it for you.

All LLCs have liability protection, meaning that their business is by default a separate entity than its owners. However, that liability protection can be weakened if the business and the owners mix finances. This can happen if there isn’t a separate bank account for your business.

To open a business bank account, you’ll need your LLC’s Articles of Organization, Operating Agreement, EIN, and an LLC Resolution to Open a Bank Account.

All Minnesota LLCs are required to file an annual renewal by December 31st each year. The annual renewal is a report that updates the state on your business’ contact and ownership information. The good news? Unlike most states, the Minnesota Annual Renewal is completely free to file!

Tip: If you’re worried about remembering your annual renewal, you can hire us to file for you!

You will need to file a Beneficial Ownership Information Report within 90 days of forming your LLC. This report tells the federal government basic information about your beneficial owners and company applicants.You can file directly with FinCEN or hire us to do it for you for just $9.

*This is informational commentary, not advice. This information is intended strictly for informational purposes and does not constitute legal advice or a substitute for legal counsel. This information is not intended to create, nor does your receipt, viewing, or use of it constitute, an attorney-client relationship. More information is available in our Terms of Service.