How to Form a Company in Minnesota

Introduction

If you’re not a Minnesota native, you might be surprised to learn that it’s possible to form a company in the North Star State without ever stepping foot in its borders. That’s right: You can do everything from your home or office in any other state. However, it’s important to know that forming an LLC requires more than just filling out some paperwork and paying fees—it also requires careful planning and compliance with local laws and regulations. For example, if you own multiple businesses (or plan on starting more than one), then each new entity needs its own EIN number. So let’s take a look at how easy it is to start an LLC in Minnesota so you can get started on your journey toward business ownership!

1. Check name availability by using an online tool.

Before you register a business, you’ll need to check name availability. You can do this by using an online tool.

Name availability should be checked in the state where you will be doing business and, if possible, all 50 states.

2. Fill out the Articles of Incorporation.

Fill out the Articles of Incorporation. You don’t need to be a lawyer, but it certainly helps if you have some familiarity with legal language. The Secretary of State’s office provides an article template on its website that walks you through the process and explains each item in detail. Here’s what your article should include:

• Name of corporation
• Purpose of corporation
• Address where registered office will be located (can also be elsewhere in Minnesota)
• Name and address of incorporator(s) (any individual or entity which signs an application for incorporation on behalf of another person or entity) With only one other member, you’ll be both the incorporator and founder—but keep reading for advice about adding new members later on!
• Number of authorized shares issued by this corporation; par value per share if any; name(s), address(es), signature(s), date executed

3. File the Articles of Incorporation with the Minnesota Secretary of State, who can be reached online or via mail.

• Fill out the Articles of Incorporation.
• Mail the Articles of Incorporation to the Minnesota Secretary of State.
• The Secretary of State will verify the information and send back a certificate of incorporation.
• The certificate is notarized and returned to you by mail.

4. Chose a registered agent (also called resident agent, statutory agent).

The registered agent is a person or entity that is authorized to accept service of process (court papers) for your company if it’s sued. They must be a Minnesota resident and have a physical address in the state. To register, you’ll need to provide the Secretary of State with:

• your name or business name
• your mailing address
• the type of legal entity you’re forming (for example, LLC or corporation), and
• the name and signature of your designated registered agent.

5. Create bylaws and operating agreements (if needed).

After you’ve obtained your federal tax identification number, you’ll need to create bylaws and operating agreements (if needed). The former is a set of rules that govern the internal operations of a company, while the latter describes how a company will be run. Both are important documents because they set forth the structure of your business and help establish clear lines of authority within it.

Once again, there’s no need to feel overwhelmed—we’ll walk through each step below.

6. Apply for an EIN with the IRS.

You need an EIN from the IRS in order to file your taxes. It’s a unique identifier for your business, and it lets you open bank accounts or apply for loans. You can apply for one through the IRS website (https://sa1.www4.irs.gov/modiein/individuals/small-businesses/), or call them at 800-829-4933 and speak with someone over the phone.

If you don’t have an EIN yet, it will take about three weeks before they send it to you by mail—so make sure that this step is complete well before any tax deadlines!

7. File Form SS-4 with the IRS to receive an EIN, which is required for federal and state tax reporting purposes, as well as employee tax withholding, retirement plans and other business related matters that involve taxes.

You will need to complete Form SS-4, Application for Employer Identification Number, to obtain an EIN. You can file this form online, by mail or fax.

8. Obtain any required local and Minnesota state business licenses and permits at mnlicensinglookup.state.mn.us/.

In addition to a business license, you may also need local and Minnesota state business licenses and permits. You can search for specific types of businesses at mnlicensinglookup.state.mn.us/.

Conclusion

Forming a company in Minnesota is an easy process that can be completed online or by mail. To get started, you will need to check for name availability and file Articles of Incorporation with the Minnesota Secretary of State. Next, choose a registered agent (also called resident agent, statutory agent). After that, create bylaws and operating agreements (if needed). Finally apply for an EIN with the IRS before filing Form SS-4 with them so they can send you your EIN number which is required for federal and state tax reporting purposes as well as employee tax withholding retirement plans other business related matters involving taxes all three steps are covered above!