A certificate of good standing in Minnesota validates that a limited liability company (LLC) or corporation was founded lawfully and has been properly maintained.
In our Certificate of Good Standing Minnesota guide, we will go over the qualifications for good standing as well as how to get one in Minnesota.
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How Do I Obtain a Minnesota Certificate of Good Standing?
You may get your Minnesota certificate of good standing from the Secretary of State.
There are two major processes involved in obtaining your certificate of good standing:
1. Maintain your LLC’s compliance
2. Request a certificate of good standing.
What exactly is a good standing certificate? A certificate of good standing is a state document that confirms your company was created lawfully and has been properly maintained.
Step 1: Ensure that your Minnesota business is in compliance.
To be eligible for a Minnesota certificate of good standing, your company must meet the following state compliance requirements:
Permits and Licenses
To run a company in Minnesota, you must adhere to federal, state, and municipal licensing requirements. Regulations such as health permits and construction permits are examples of this.
The Minnesota ELicensing website provides further information on state licensing requirements.
State levies
Depending on your company activity, you may be required to register for several types of Minnesota state tax. Sales tax, withholding tax, and Unemployment Insurance (UI) tax are all examples of this.
Both LLCs and corporations may be required to pay extra business taxes in Minnesota.
Partnership Tax must be paid by multi-member LLCs. Corporations and limited liability companies taxed as C corporations must pay Corporation Franchise Tax. Corporations and limited liability companies taxed as S corporations must pay S Corporation Tax.
Depending on their total annual Minnesota property, payroll, and sales amounts, businesses may additionally be required to pay a minimum charge in addition to their taxes.
Renewals every year
Annual Renewals are required for all Minnesota LLCs and corporations. This report confirms the company’s fundamental facts, such as its primary office location and registered agent.
Each year, the Annual Renewal must be submitted with the Secretary of State by December 31. You may file electronically, via mail, or in person. There are no filing costs.
Step 2: Request a Minnesota Certificate of Good Standing.
Once your company is in good standing with the state, you may apply to the Secretary of State for a Minnesota certificate of good standing. This may be done in person, via mail, or online.
Is a Certificate of Good Standing Required in Minnesota?
While you don’t always require a certificate of compliance to manage a company in Minnesota, there are a few situations when you could. These are some examples:
Purchasing commercial insurance
Applying for commercial loans
Establishing a business checking account
Getting a business license in another state
