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How to form an LLC in Minnesota is an excellent place to form anew LLC with fast startup growth great access to funding and the 2nd highest quality of life in the country Every state has slightly different requirements for forming an LLC Follow along closely to learn the required steps for creating your own Limited Liability Company in the State of Minnesota There are two ways to form an LLC in Minnesota You can form one yourself, or you can hire a service to do it for you Lets start by looking at the five basic requirements to form an LLC in Minnesota on your own 1 Name your LLC You'll need to choose a company name that complies with Minnesota naming requirements and do a name search on the State of Minnesotaswebsite to make sure the name isn't already taken You should go ahead and register the URL for your business website and email as well 2 Choose a registered agent Minnesota requires that you nominate a registered agent for your LLC who is your business point of contact with the state The registered agent can be an individual within the company including yourself, or you can hire a professional service authorized to do business in Minnesota 3 File the Articles of Organization To register your Minnesota LLC you will need to file the Articles of Organization with the Minnesota Secretary of State This can be done online by mail or in person You will need to state whether your LLC will bemember-managed or manager-managed Member-managed means all members of the LLC manage the company This is good for small organizations where everyone is involved in day-to-day operations The second option is manager-managed where individuals are appointed to manage the LLC This is appropriate for larger organizations where not everyone is involved in the day-to-day affairs of the business 4 Create an Operating Agreement You should also create an operating agreement to establish ownership terms member roles and operating procedures This legal document ensures that all business owners are on the same page and reduces the risk of future conflict A comprehensive operating agreement will further establish your LLC as a separate legal entity however it does not need to be filed with the state 5 Obtain an EIN Lastly you'll need to get an Employer Identification Number or EIN from the IRS Also known as a Federal Tax IdentificationNumber your EIN is like a social security number for your LLC and is important for taxes and banking Wins are free of charge and can be obtained from the IRS online or through the mail And with that you will have formed a Minnesota LLC on your own Option 2 Hire a Professional Service The second way to create a Minnesota LLC into hire a professional service to create your LLC for you Hiring a professional service to file your forms and act as your registered agent for the LLC will cost you an additional 50 to150 dollars However there are several benefits to working with a pro A hired registered agent helps with getting your reports filed on time...
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