How to Start a Business in Minnesota: A Step-by-Step Guide
Starting a business in Minnesota is a smart move for entrepreneurs, and forming a Minnesota Limited Liability Company (LLC) is a great way to enjoy limited liability protection and tax advantages. A Minnesota LLC is an excellent choice for business owners who want a simple yet effective structure. Form Wise is here to guide you through the process of forming your Minnesota LLC while ensuring compliance with all state requirements.
Step 1: Choose a Unique Name for Your Minnesota LLC
Your Minnesota LLC must have a unique name that complies with state naming rules. The name should include “Limited Liability Company,” “LLC,” or “L.L.C.” and must not be the same as any other registered entity in Minnesota. To check availability, use the Minnesota Secretary of State’s business search tool at https://mblsportal.sos.state.mn.us.
Apply now, pick a name and we will verify the availability!
Step 2: Appoint a Registered Agent for Your Minnesota LLC
Minnesota requires all LLCs to designate a registered agent. This agent must have a physical address in Minnesota and be available during normal business hours to receive official state documents and legal correspondence for your Minnesota LLC.
Get in touch with us and we will refer a Registered Agent!
Step 3: File Articles of Organization for Your Minnesota LLC
To officially establish your Minnesota LLC, you must file Articles of Organization with the Minnesota Secretary of State. Filing this document creates your LLC as a recognized legal entity. Submissions can be made online.
You can file for a domestic LLC with Form Wise!
Step 4: Create an Operating Agreement for Your Minnesota LLC
Although not required by Minnesota law, having an operating agreement is strongly recommended. This document outlines the internal structure, responsibilities, and operating procedures of your Minnesota LLC, helping to avoid misunderstandings among members.
Contact us if you need help with your Operating Agreement
Step 5: Obtain an EIN for Your Minnesota LLC
An Employer Identification Number (EIN) is essential for your Minnesota LLC to manage federal tax filings, open a business bank account, and hire employees. You can apply for an EIN online.
Start processing your EIN online now!
Step 6: Register for Minnesota State Taxes and Acquire Necessary Permits
Depending on your Minnesota LLC’s operations, you may need to register for state taxes and obtain relevant licenses or permits. Minnesota businesses must register with the Minnesota Department of Revenue for applicable taxes. Contact us to determine specific licensing requirements.
Step 7: File an Annual Renewal for Your Minnesota LLC
Minnesota requires all LLCs to file an annual renewal to maintain compliance and good standing. This renewal ensures your Minnesota LLC’s information is current with the state. You can complete the filing through the Minnesota Secretary of State’s website.
Need help with your Annual Filings and Reporting?
Why Choose Form Wise to Start Your Minnesota LLC
Starting a Minnesota LLC involves essential steps that require attention to detail. Form Wise simplifies the process by handling everything from filing Articles of Organization to assisting with tax and licensing requirements. Let Form Wise help you establish your Minnesota LLC and set your business up for success. Contact Form Wise today to begin building your Minnesota business.
