How to Register an LLC in Minnesota: A Step-by-Step Guide

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By: Michaela Dale Updated on: June 13, 2024

Ready to launch a new business in Minnesota but not sure where to start? Registering an LLC in Minnesota requires only six straightforward steps. We’ve outlined them below for you to follow along and launch the limited liability company (LLC) of your dreams.

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Form Your LLC

Minnesota LLC Quick Facts 

  • By registering as an LLC you gain personal liability protection and tax flexibility. 
  • To form an LLC in Minnesota, you must file Articles of Organization. 
  • The filing fee to register an LLC is $155. 
  • Your Minnesota must have a registered agent. 

6 Steps to Registering an LLC in Minnesota

Follow these six steps to get your business up and running.

Ready to register an LLC in Minnesota? Let’s get started. 

  1. Name Your Minnesota LLC 
  2. Appoint a Registered Agent
  3. File the Articles of Organization
  4. Create Your LLC’s Operating Agreement
  5. Obtain an EIN and Handle Taxes
  6. File a Beneficial Ownership Information Report

Step 1: Name Your Minnesota LLC 

To start, you need to choose a name for your new LLC. 

Minnesota LLC names must meet the following criteria: 

  • Include “Limited Liability Company” or an abbreviation 
  • Be unique and distinguishable from any other business entity in the state 
  • Cannot include terms that imply affiliation with state or federal body 
  • Cannot contain restricted words such as Bank or Medicine 

For the full list of naming requirements for Minnesota LLCs, visit the state’s name availability guidelines

To ensure your business name is unique, you will need to complete a business name search on the Minnesota Secretary of State website

Before you land on an LLC name, make sure you can secure a matching domain. Visit GoDaddy today to search for your perfect domain name. 

Step 2: Appoint a Registered Agent

Next, you are required to appoint a registered agent

A registered agent is an individual or business entity responsible for receiving important information and documents on behalf of your company, such as tax forms or notice of lawsuits.

In Minnesota, registered agents must:

  • Have a physical address in the state
  • Be available during normal business hours
  • Not be the LLC itself but can be an LLC owner 

Who Is Eligible to Serve as a Registered Agent in Minnesota?

A registered agent can be the LLC owner, an employee of the company, a friend, a family member, or a hired registered agent service. It is essential to choose someone reliable and readily available to handle legal documents on behalf of the LLC.

Step 3: File the Articles of Organization

To register an LLC in Minnesota, one of the essential steps is to file the Articles of Organization with the Minnesota Secretary of State. This can be done online or by submitting this form by mail or in person. 

The filing fee for expedited service in-person and online is $155, $135 if filed by mail

It is recommended that you have the following information prepared: 

  • Your LLC’s name 
  • The name and address of your registered agent 
  • The name, address, and contact information of the LLC organizer 

Quick Note: If your LLC was formed in another state, you’ll need to register as a foreign LLC in Minnesota. To do so, submit a Certificate of Authority to Transact Business online, in person, or by mail along with a $205 filing fee.  

Step 4: Create Your LLC’s Operating Agreement

Creating an operating agreement is an important step in the process of registering your LLC in Minnesota. An operating agreement outlines the internal procedures and ownership details of your company, helping to ensure alignment among members and prevent conflicts in the future. While this document is not required to be filed with the state, it is essential to keep an updated operating agreement on file for your LLC.

Step 5: Obtain an EIN and Handle Taxes 

To obtain an Employer Identification Number (EIN) for your LLC in Minnesota, you can apply for free on the IRS website. This number is necessary for tax reporting, hiring employees, and opening a business bank account. 

You can get an EIN for free on the IRS website

Make sure to also research any additional tax obligations specific to your business by visiting the Minnesota Department of Revenue website

Step 6: File a Beneficial Ownership Information Report 

After you’ve registered your Minnesota LLC, you need to file a Beneficial Ownership Information (BOI) report to the US Financial Crimes Enforcement Network (FinCEN).

Failing to file the Statement of Organizational Structure can result in a fine of $500 per day. New LLCs are required to submit a BOI report within 90 days of forming, existing LLCs have until January 1st, 2025 to complete the requirement. 

You can submit this information online on the FinCEN website

Next Steps 

  • Comply with any licensing and permit requirements. Visit the Minnesota Employment and Economic Development website for more information. 
  • Consider getting business insurance to protect your LLC from potential risks. General liability insurance, property insurance, and professional liability insurance are some common types of coverage that you may need for your business. NEXT Insurance makes obtaining these policies quick and easy. 
  • Open a business bank account to separate business and personal assets and ensure personal liability protection. With Lili Banking and Accounting Services, you can do so in minutes and gain access to a myriad of financial features for your new LLC. 

Lili is a financial technology company, not a bank. Banking services provided by Sunrise Banks N.A., Member FDIC.

  • File an annual renewal either online or by mail before December 31st each year to maintain your LLC’s good standing. 

Additional Tips for Success 

  • Track State Requirements: Ensure your business stays compliant by keeping up with state requirements and regulations. 
  • Build a Strong Network: Form a community of founders, partners, and mentors to help you work through challenges and grow your business with support. 
  • Work on Your Mindset: Entrepreneurship can be challenging, make sure you work on a positive, growth mindset to be able to better roll with the punches. 

Conclusion

To successfully register an LLC in Minnesota, it is important to follow the necessary steps diligently. By understanding the requirements and completing the registration process correctly, you can ensure that your business is set up for success in the state. Make sure to research the specific regulations and guidelines for establishing an LLC in Minnesota, and follow the steps carefully to complete the registration process accurately. By taking the time to properly register your LLC, you can protect your business and start off on the right foot in Minnesota.