Minnesota LLC
Forming a Minnesota LLC gives you liability protection without sacrificing the flexibility you need to run your business. For $304, our Minnesota LLC formation package offers you privacy protection, a free operating agreement, and a secure online account—all for a better price than our national competitors. We also provide professional customer service from local experts who know Minnesota LLCs better than anyone else.
Our Minnesota LLC Service
When you order our Minnesota LLC formation package, our local agents will file your Articles of Organization with the Minnesota Secretary of State. Plus, we’ll use our business address instead of yours—because maintaining your privacy is important. After that, here’s what happens next:
- The Minnesota Secretary of State authorizes your LLC.
- Our agents upload your approved LLC documents to your secure online account.
- We provide Minnesota registered agent service for an entire year.
- Once the year is up, we’ll send a notice for you to renew your registered agent service at just $49 a year.
- Option to add an assumed name (DBA) for $125 (plus state filing and publication fees) after completing your purchase. Simply add “Trade Name Service” inside your client portal.
Once your Minnesota LLC is officially formed, we’ll upload an operating agreement template into your secure online account. You can customize the template to fit your specific business needs. Plus, you’ll get free membership certificates, initial resolutions, and real-time annual report reminders. Everything you need will be securely stored in your account where you can view, print, or download whatever you need at any time.
Want to fly solo and form an LLC on your own? That process looks slightly different. Below, we’ll break everything down.
Starting a Minnesota LLC
Many business owners opt to start an LLC on their own. While that may come with some drawbacks, it’s a choice that makes sense in some cases. Here are the steps for starting a Minnesota LLC if you choose the do-it-yourself approach.
Name Your Minnesota LLC
The first step to form a Minnesota LLC is to give your business a name. However, before you start printing business cards, Minnesota has rules for naming your LLC that you’ll be required to follow. Per MN Stat § 322C.0108 (2022), your Minnesota LLC name must:
- contain the words “limited liability company” or the abbreviation “LLC.”
- be distinguishable from other businesses in Minnesota. The Secretary of State will make the final call on if your name is too similar to another business, however, you can check if your business name is available by searching the Minnesota Business Database.
- not use the words “corporation” or “incorporated,” nor can it use abbreviations of those words
- can’t imply your business provides services it’s not permitted to offer. For example, you can’t call your bakery “Cupcake University” as “university” is reserved for educational institutions.
Hire a Registered Agent for Your Minnesota LLC
A registered agent is someone who accepts legal mail on behalf of your Minnesota LLC. Per state statutes, your Minnesota registered agent must be a single person or business entity with a physical Minnesota address. While you can act as your own registered agent, keep in mind that you’ll also be required to hang around the office during regular business hours. And, most business owners work odd hours. That’s why most business owners choose to hire a professional company like Minnesota Registered Agent LLC. Let us wait all day for the mail. You go run your business.
Minnesota requires all LLCs to have a registered agent. So, even if you want to form your Minnesota LLC yourself, you can still hire us to serve as your Minnesota registered agent.
File Minnesota LLC Articles of Organization
To file Minnesota LLC Articles of Organization, you must provide the following information.
Business name – It must include a business identifier like “LLC.”
Registered agent information – You must provide your Minnesota registered agent’s name and physical address, PO Boxes don’t count.
Organizers’ information – The name, street address, and signature of the person or persons preparing the Articles of Incorporation goes here.
Email address – You’ll be required to list an email address where your business can receive official state notices.
Name and phone number – The state requires you to list a name and daytime phone number of someone who can be contacted in case there are any issues regarding your Articles of Organization.
Business snapshot (optional) – You may provide extra details regarding your business such as your business purpose or member/manager information.
Once you’ve completed your Articles of Organization, you can file in person, online, or by mail. In-person and online filings cost $155 and are automatically expedited. However, in person filings will be processed immediately. Online submissions will take about 3-5 business days. Mailed submissions are the cheapest ($135), but take much longer to process—typically around 3-4 weeks.
Submit Beneficial Ownership Information (BOI) Report
After your Minnesota LLC is officially formed with the state, you need to file a BOI report with the federal Financial Crimes Enforcement Network (FinCEN). Starting January 1, 2024, BOI reports are due within 30 days of business formation. Companies formed before 2024 must file before January 1, 2025.
BOI reports must be submitted online using FinCEN’s database. The information in this database is not accessible to the public. Filling is free.
In your BOI report, you must disclose basic details about your:
Reporting Company – Your LLC
Beneficial Owner(s) – Anyone holding at least 25% ownership interest or who has substantial control over business decisions (for example, a member-manager).
Company Applicant – The person(s) in charge of filing your Articles of Organization or directing them to be filed (if different). Businesses created prior to 2024 don’t need to include company applicant information.
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Although most companies must file, there are some exemptions for highly regulated fields.
Let Us Help You Form Your Minnesota LLC
Sure, you can start your Minnesota LLC without our help – or anyone else’s, for that matter. You’re a strong independent business owner. But there are compelling reasons to hire us nonetheless.
Local service: Our office is located in Owatonna, Minnesota. Plus, our agents have years of acquired business experience and knowledge they’re ready and willing to share with you. We care about our state and want to see the business community thrive.
Rapid formation: We believe in being fast and efficient. That’s why we file your Articles of Organization within a single business day and make sure to get it right the first time.
Consistent pricing: The price you pay when you sign up for our registered agent service today is also the price you’ll pay five years from now. We don’t believe in raising prices just because everyone else is doing it.
A privacy shield: We list our business information on your Articles of Organization. That keeps information like your personal address from becoming part of the public record.
Other Questions About Your Minnesota LLC
Can I reserve a name for my Minnesota LLC?
Yes. If you already have a business name picked out but are waiting to file paperwork with the state, you can reserve your Minnesota LLC name by filing a Request for Reservation of Name with the Secretary of State. The fee is $55 to file online or in person, or $35 to file by mail. Once you’ve submitted the form, the name is reserved for 12 months. Once that time is up, the reservation can be renewed for another 12 months.
Do I need to file a Minnesota annual report?
Yes. All Minnesota LLCs are required to file an annual report (also known as an annual renewal) with the Secretary of State. Your annual report must be filed by December 31, and can be submitted online or by mail. There is no filing fee. However, failing to file a report will result in your LLC being administratively dissolved.
How are Minnesota LLCs taxed?
Your Minnesota LLC will automatically be taxed as a pass-through entity. This means you report your share of the business’ profits on your personal taxes. If you prefer another option, you can submit paperwork to the IRS allowing you to file as either an S-corp or a C-corp. You’ll also have to pay federal self-employment taxes (15.3%) as well as a Minnesota personal income tax (between 5.35% and 9.85%) based on how much you earn.
Does my business need an assumed name (DBA)?
Many Minnesota companies operate under an assumed name (also called a DBA) because it allows for branding and franchising opportunities. If you’re interested in registering an assumed name, select our Trade Name Service inside your client portal after signing up for our business formation service. We will register your company’s assumed name for $125, plus state filing and publication fees.
Do I need a Minnesota business license?
Probably. There’s a good chance you’ll need at least one business license or permit for your Minnesota LLC. Check the state’s online licensing portal to find out. Your city or county may have some licensing requirements of its own, so check with your local government as well.