Minnesota LLC Cost

We’ve compiled the most common fees associated with forming an LLC in Minnesota.

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FAQs on how to determine Minnesota LLC costs

  • The following are fees you could see when you start your own LLC in Minnesota:

    Minnesota LLC Filing Fee – $155

    The minimum fee for filing your Minnesota Articles of Organization is $155for regular processing. Many people choose rush processing by filing online and choosing to pay $79.

    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 rush 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.

  • 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.

    Foreign LLC

    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.

    Business Licensing

    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 $0 plus state fees, we can form your Minnesota LLC for you in just minutes. No LegalZoom promo code required: Pay just $0 plus filing fees for fast LLC formation 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.

  • 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.

  • You pay your Articles of Organization fees to the Minnesota Secretary of State.

  • 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.

  • 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.

Related Topics

Minnesota Secretary of State Contact Information

Address:
332 Minnesota Street, Suite N201
St. Paul, MN 55101
Email:
business.services@state.mn.us
Telephone:
(651) 201 – 1324
Website:
https://www.sos.state.mn.us/

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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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Written by Team ZenBusiness

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