How to Determine Minnesota LLC Costs
- How much is an LLC in Minnesota?
- Minnesota LLC Cost: How do I get started?
- What fees go into the total LLC cost in Minnesota?
- What other Minnesota LLC fees should I look out for?
- Are there penalties for paying my fees late in Minnesota?
- What happens if I can't pay my filing fee to the Minnesota government?
- Who receives the filing fees for forming my Minnesota business?
- What is the largest fee I will pay when I form my Minnesota LLC?
- What payment methods can I use to pay my LLC or corporation filing fees to the Minnesota government?
- How do I form my LLC in Minnesota?
How much is an LLC in Minnesota?💲
The cost to file an LLC in Minnesota is $135.
Minnesota LLC Cost: How do I get started?🚀
The first Minnesota LLC cost in forming your new business comes with filing your Articles of Organization. Your Articles of Organization are the foundational document of your new Minnesota LLC. Filing them is where you’ll pay your largest government filing fee in the formation process.
You’ll also need to come up with a name for your Minnesota LLC. You can do this by filing a Request for Reservation of Name. Once you’ve picked a name, our Minnesota LLC Formation Service can help you get your Minnesota business entity formed quickly and correctly. We can help you file your LLC documents in Minnesota for just $49. Helping you get it right the first time is our specialty.
What fees go into the final LLC cost in Minnesota?💰
The following are fees you could see when you start your own LLC in Minnesota:
Minnesota LLC Filing Fee
$135: The minimum fee for filing your Minnesota Articles of Organization is $135 for regular processing. Many people choose expedited processing by filing online and choosing to pay $155.
Filing your Request for Reservation of Name costs $55. $190 is the baseline Minnesota LLC filing fee you can expect once your name reservation and Articles of Organization have been submitted. Most organizations spend between $190 and $245 depending on whether they want to expedite their filing.
Annual Filing Fee
Free: Once your LLC is up and running, you’ll have to submit your LLC’s Annual Report to the Secretary of State each year. Filing the report is free, but you’ll need to budget time and resources to prepare it. Save yourself a headache and money by using our Annual Report Service to help you stay on top of your LLC’s annual reporting obligations.
Franchise / Partnership Tax Fees
Minnesota imposes a type of franchise tax on multi-member LLCs. This amount is determined when you complete your tax return and will be specific to your business. The Partnership Tax applies only to multi-member LLCs, so be sure to check with your tax professional to budget appropriately.
What other Minnesota LLC fees should I look out for?🔍
The up-front formation fees are just the start when creating your Minnesota LLC. There are other Minnesota LLC costs that you should know about.
Certificate of Good Standing
To open business bank accounts, obtain financing, and attract investors, you will need to obtain a copy of your Certificate of Good Standing. A certified, official copy of your certificate of good standing costs $15 if requested online or $5 if ordered by mail or in-person. We can help with our Minnesota Certificate of Good Standing Service.
DBA Name in Minnesota
If your business is complex or you work on a variety of different projects, then a “doing business as” or DBA name may be right for you. A DBA is a name your business uses that is different from your name or the business’s registered name.
To obtain a DBA in Minnesota, you’ll need to file a Certificate of Assumed Name. First, you’ll have to search Minnesota business filings to determine if your DBA name is available. If so, you can file your Certificate of Assumed Name online or by mail. The fee is $50 for online or expedited service, and $30 for regular or mail-in service.
If you formed your LLC in another state and now want to do business in Minnesota, there are certain Minnesota LLC costs associated with registering your foreign company. To be clear, “foreign” simply means the business entity in question was formed outside of Minnesota. It can be referring to something as exotic as a Wisconsin LLC.
To operate your out-of-state LLC in Minnesota, you need to file a Certificate of Authority to Transact Business in Minnesota. The foreign LLC cost in Minnesota is $205 for expedited online and in-person filings, and $185 if submitted by mail for regular processing.
Your Minnesota LLC cost can rise with the cost of the business permits and licenses you need. You might have to pay fees for:
- Business licenses
- Federal, state, and local permits
- Professional registrations
With the help of our partners at Avalara, we can give you a Business License Report. Your customized report can help you manage the number of licenses and permits you need to help manage the cost to start a business in Minnesota.
For just $49, we can form your Minnesota LLC for you in just minutes. No LegalZoom promo code required: Pay just $49 plus filing fees for fast LLC formation in Minnesota.
Are there penalties for paying my fees late in Minnesota?📆
Yes. Failure to pay your fees on time can mean penalties, late fees, and even legal sanctions. Late fees can even jeopardize the legal status of your Minnesota LLC.
What happens if I can’t pay my filing fee to the Minnesota government?🚩
If you are not able to pay your filing fee, then the government can refuse to accept your filing, and your LLC will not be a valid legal entity. You may then want to consider a business entity like a sole proprietorship or general partnership. These business formats can be cheaper to start, but carry much greater personal liability. While it is true that the average cost to start a business in Minnesota is pricier if you are using an LLC, the LLC format offers greater protection of your personal assets and can save money in the long run.
Who receives the filing fees for forming my Minnesota business?💸
You pay your Articles of Organization fees to the Minnesota Secretary of State.
What is the largest fee I will pay when I form my Minnesota LLC?📈
When it comes to the cost to start a business in Minnesota, the largest fees you’ll pay will be for filing your Articles of Organization.
What payment methods can I use to pay my LLC filing fees to the Minnesota government?💳
Your Minnesota LLC cost can be paid using a check, money order, or credit card. If you pay by credit card, you might be charged an additional convenience fee.
How do I form my LLC in Minnesota?📋
Name your LLC📛
Choosing a name that defines your new business is one of the best parts of starting a Minnesota LLC. Minnesota allows you a lot of freedom in naming your LLC. However, your new company’s name must:
- Contain the words or abbreviations “limited liability company,” “L.C.,” or “LLC” (periods or other punctuation are acceptable)
- Be different from other names on file with the Minnesota Secretary of State
Once you’ve decided on a name for your company, file your Request for Reservation of Name to lock it in. Our Business Name Checker and Business Name Reservation Service can help you to do the fun part of name selection without all the difficult paperwork.
Confirm a Registered Office ✋
A Registered Office is the physical address office of your company where the government can send legal notices. It is your confirmed legal presence in the State of Minnesota. Minnesota is unique in that you are not legally required to have a Registered Agent, however, you will need to confirm the address within the state where your company is physically present in order to start your company.
File your LLC’s Articles of Organization ✉
You can file your Articles of Organization with the Minnesota Secretary of State. Businesses can file online (registration required) or by mail. If you file by mail, you may pay only by check or money order. Mail your Articles of Organization and filing fee to:
Minnesota Secretary of State – Business Services
First National Bank Building
332 Minnesota Street, Suite N201
Saint Paul, MN 55101
Create an Operating Agreement📃
An Operating Agreement is a helpful document in setting up your Minnesota LLC. An Operating Agreement can:
- Provide rules and guidance for dispute resolution
- Customize how profits and losses will be shared
- Shape members’ expectations for running the business
Without an Operating Agreement in place, your LLC needs to run by Minnesota’s state laws and rules governing LLCs. These rules aren’t always customized to your individual business needs like an operating agreement is.
Our Operating Agreement Template makes writing your Operating Agreement easy. We’ve helped hundreds of LLCs get up and running with custom Operating Agreements that they’ve crafted from our template.
Get an EIN 🔢
Employer Identification Numbers (EINs) are necessary for certain businesses to pay their federal taxes. They are granted by the Internal Revenue Service (IRS) and are necessary if you have employees and for other reasons like getting a business bank account and certain types of insurance. Even if your business isn’t required to have an EIN, they can be great for protecting your personal privacy. If you don’t have an EIN, you’ll be required to use your personal social security number on business documents.
To get an EIN, you have to file paperwork with the IRS. We can handle this for you with our Employer ID Number Service.
Stay Legally Compliant👍
Let us help you keep your business organized. If details about your business change, you’ll need to amend your Articles of Organization or file other updated paperwork with the government. This can add additional Minnesota LLC costs and hassle. To help prevent more paperwork and more headaches, you can use our Worry-Free Compliance Service to file up to two amendments per year and keep track of your business’s other compliance requirements.
We can help!💪
Becoming a business owner is a big deal. We can help you get your LLC up and running quickly and stay compliant with our large catalog of business formation services. Our goal is to help you operate so efficiently. You’ll be amazed at how much money you’re saving as you grow your business.
Disclaimer: The content on this page is for information purposes only, and does not constitute legal, tax, or accounting advice. If you have specific questions about any of these topics, seek the counsel of a licensed professional.
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