In Minnesota, the cost of forming an LLC (limited liability corporation) online is $155. When the LLC’s Articles of Organization are filed, this fee is paid to the Minnesota Secretary of State.
How Much Does a Minnesota LLC Cost?
The fee for filing an LLC online in Minnesota is $155 USD.
The biggest expense of forming an LLC is the $155 charge for filing your Articles of Organization with the Minnesota Secretary of State online.
How Much Does it Cost to Form a Foreign LLC in Minnesota?
If you currently have an LLC established in another state and want to expand into Minnesota, you must register your LLC as a foreign LLC in Minnesota.
A Minnesota foreign LLC registration costs $205 online or $185 by mail. A foreign LLC may be registered in Minnesota by submitting a Certificate of Authority to Transact Business in Minnesota. This may also be done via the mail.
Annual Renewal in Minnesota is free.
LLCs in Minnesota are required to submit an annual report with the Secretary of State.
You may submit this form online or by mail to the Minnesota Secretary of State. It is due each year on December 31.
Fee for Registered Agent
You may be your own registered agent in Minnesota, but employing a registered agent service keeps your firm in compliance, informs you of critical filing dates, and helps you avoid late fines.
Minnesota Franchise Tax: The amount varies.
Minnesota charges a Partnership Tax on multi-member LLCs with more than $970,000 in property, yearly salaries, and annual sales (indexed annually for inflation). Multi-member LLCs with less than that amount in income are excluded from paying the minimum fee, but must still submit Minnesota form M3. This form may also be sent.
Permits and Licenses for Businesses
Depending on your industry and geographic location, your company may need federal, state, and municipal permits/licenses to operate lawfully in Minnesota. This is true regardless of whether you create an LLC or another sort of company structure.
Other Fees for Filing an LLC
There are several extra costs involved with forming an LLC:
LLC Name Reservation: Reserve your name for up to 12 months prior to the establishment of your LLC by submitting a Request for Reservation of Name and paying the $55 filing fee online or the $35 filing fee by mail.
If a Foreign LLC’s legal name is already used by a corporation in the state, it may register a new name by submitting a Resolution to Adopt an Alternate Name and paying the $55 filing fee or the $35 filing fee if filing by mail.
“Doing Company As” (DBA) Name: To establish a name different than your official LLC business name, file a Certificate of Assumed Name and pay the $50 filing fee online or the $30 filing fee by mail.
Certified Document Copies: Order certified copies of your Minnesota business paperwork from the Secretary of State for $8.
Certificate of Good Standing: This document, also known as a Minnesota certificate of good standing, may be obtained by contacting the Secretary of State and paying the $5 mail charge or $15 online cost. Banks and lending institutions often demand a certificate of good standing.