MINNESOTA

Why Form a Limited Liability Company (LLC)?


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How to Start an LLC in Minnesota

Located in the north central part of the U.S., near the Great Lakes and boasting over 10,000 lakes of its own, Minnesota is a beautiful part of the world. Minnesotans enjoy a high standard of living and are very civically minded. The state is one of the best educated and most wealthy in the country and is an ideal starting place for any entrepreneur.

For most business owners, the fastest and easiest way to start a business in Minnesota is by creating a Minnesota LLC. A limited liability company (LLC) is a type of business entity that’s ideal for startups and small- to medium-sized businesses. You get the advantages and protections of larger Minnesota corporations, but with much simpler rules and regulations.

Briefly, the benefits of starting a Minnesota LLC include:

  • Separating and limiting your personal liability from your business liability and debts
  • Quick and simple filing, management, compliance, regulations and administration of your Minnesota LLC
  • Easy tax filing and potential advantages for tax treatment

Learn more about the benefits of the LLC business structure here.

Six Quick Steps to Filing an LLC in Minnesota

This guide has plenty of information on how to form your Minnesota LLC, but you can break down the basics of forming a business in MN into just a few simple steps.

STEP 1: Gather Information for Your Members

First, you need to gather basic information about your LLC, including the names and addresses of the managers or members. The LLC members are typically the people who own and run the business. They are also the ones who can take profits out of the business to pay themselves.

STEP 2: Search for and Choose a Unique Business Name for Your Minnesota LLC

You will need a distinctive and original name for your Minnesota LLC that’s not used by any other business in MN. To find out if another company is using your chosen business name, carry out a Minnesota business entity name search on the MN Secretary of State website.

There are a few rules you’ll need to follow when choosing an LLC name. You can find out more in our guide to searching for and naming your Minnesota LLC.

Learn about Nebraska LLC business naming rules.

STEP 3: Provide an Official Address for Your MN LLC

Every Minnesota LLC must have a designated street address. That could be your home address (if you’re running the company from your residence), your company’s office building or any physical address of your preference. The address can be outside the state of Minnesota and can be a P.O. Box.

STEP 4: Assign a Registered Agent for Your Minnesota LLC

Every MN LLC must have a “Registered Agent.” This is an official position; the Registered Agent is someone who receives official legal and tax correspondence and has responsibility for filing reports with the Minnesota Secretary of State.

This position can be filled by you, another manager in the business or a dedicated Registered Agent service. Your MN Registered Agent must have a physical street address in Minnesota and must be present to receive important documents for your company during business hours.

At Incfile, all of our packages include a Minnesota Registered Agent service that is free for the first year and just $119 per year afterward. We also have a dashboard where you can log in and easily view any document your Registered Agent has received on your behalf.

Learn more about Minnesota Registered Agents.

STEP 5: Get an Employer Identification Number (EIN) from the Internal Revenue Service

You will need an EIN to identify your business to the IRS. You use this number when filing and paying taxes or when submitting payroll information and payments for your employees. You can obtain one directly from the IRS, or we can get one for you as part of the Minnesota LLC business formation process.

STEP 6: File Articles of Organization with the Minnesota Secretary of State

Once you've gathered all the information for your Minnesota LLC, you’ll need to file a formal document with the MN Secretary of State. This document is known as your “Articles of Organization,” and filing the document creates your Minnesota LLC. Here’s what is typically included:

  • Your business name and address
  • Details of your Registered Agent
  • Name of the incorporator
  • A “business snapshot” which lists various information about your business

You can file your Minnesota LLC Articles of Organization online, mail in a form or have Incfile do it on your behalf. There is a fee to file and start an LLC in Minnesota. You only need to file your Articles of Organization once.

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Review Information from the Minnesota Secretary of State

The MN Secretary of State has plenty of information on forming and running a business in Minnesota.

These are all the basic steps for forming an LLC in Minnesota. You’ll find other useful information below.

Special Types of Minnesota LLCs

A regular Minnesota LLC is suitable for most business needs, but you also have a few other options to incorporate a special type of LLC.

Form a Professional Minnesota LLC

Some states, including Minnesota, allow certain occupations to form “Professional LLCs.” These types of businesses typically have special requirements and licensing. Here are the areas and occupations that the MN Secretary of State allows to form Minnesota professional LLCs:

  • Medicine and surgery
  • Physician Assistant
  • Registered Nurse
  • Chiropractor
  • Optometrist
  • Psychologist
  • Podiatrist
  • Social Worker
  • Marriage and Family Therapist
  • Professional Counsellor
  • Dentist
  • Pharmacist
  • Veterinarian
  • Architect
  • Engineer
  • Surveyor
  • Landscape Architect
  • Geo scientist
  • Interior Designer

This is governed under the Professional Firms Act in Minnesota and there are certain requirements you will need to meet to form a professional LLC.

Form a Foreign LLC in Minnesota

If your business is already operating in another state and expanding to Minnesota, you’ll need to form a foreign LLC.

More information on Minnesota filing and licensing requirements here

What to Do After Forming Your Minnesota LLC

Want to know your next steps after creating a new LLC in Minnesota? We’ve got you covered. Here’s our guide to understanding your ongoing requirements, setting up new bank accounts, protecting your business name, getting accounting in place and more.

Detailed Information for Your Minnesota LLC

You’ll find plenty more insight and guidance on the other pages of this guide, including:

Naming Your Minnesota LLC

How to search the Minnesota business registry of the MN Secretary of State and find the right name. Includes information on naming rules, fictitious names, reserving a Minnesota LLC name and more.

Minnesota Registered Agents for Your LLC

How to appoint a Minnesota Registered Agent to your new LLC or change to a different Registered Agent. Includes information on Registered Agent rules and searching for Minnesota Registered Agents.

Fees and Requirements for Your Minnesota LLC

How to understand the various fees you’ll need to pay and the requirements you’ll need to meet for both federal and Minnesota rules. Includes details of Employee Identification Numbers (EINs), Minnesota and federal business licenses, Minnesota annual reports and more.

Federal, State, Sales and Other Taxes for Your Minnesota LLC

How to understand the various taxes you will need to pay to the federal and Minnesota government. Includes details of federal taxes like income and self-employment, and Minnesota taxes like sales tax and income tax.

Only $0 + State Fee To Launch Your Business

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What are the fees and requirements to form a business in Minnesota?

Filing Time and Price

The state charges this amount to file a new business entity. This fee goes directly to the Secretary of State.

State Fee State Filing Time Expedited Filing Time
$155 5 Business Days 1 Business Day

Compliance Requirements

This report is mandatory and must be filed within the specified time frame in order for the entity to remain in good standing with the state. Failure to file this report can lead to the company being revoked or administratively dissolved.

Annual Report

Frequency: Annually

Due Date: December 31st

Filing Fee:$0

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