How to File as a Subchapter S Corporation in Minnesota
The appropriate paperwork must be filed with the Minnesota secretary of state's office to file as a subchapter S corporation in Minnesota. In addition, a subchapter S corporation in Minnesota must submit the appropriate document to the Internal Revenue Service. Other than filing with the IRS, a subchapter S corporation in Minnesota will be formed in the same manner as a regular Minnesota corporation. A subchapter S corporation in Minnesota may have no more than 100 shareholders.
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Instructions
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Obtain fill-in-the-blank articles of incorporation. Organizers of a subchapter S corporation in Minnesota may download fill-in-the-blank articles of incorporation on the Minnesota secretary of state's website. They may also receive articles of incorporation paperwork in person or by mail.
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Include the name and location of the Minnesota subchapter S corporation. As explained on the LegalZoom website, the business name of a subchapter S corporation in Minnesota must include words such as " limited," "company," "corporation," "incorporated," or the correct abbreviation. The selected business name must not be in use or held in reserve by another Minnesota business entity.
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Indicate the service agent for process. The articles of incorporation for a subchapter S corporation in Minnesota must include the name and address of an adult individual or business that will accept legal process for the company. The service agent for process must maintain a physical address in the state of Minnesota.
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State the number of shares the Minnesota subchapter S corporation has the authorization to issue. The par value of each share must be included in the articles of incorporation. The par value represents the minimum amount each share can be sold for.
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File articles of incorporation. A subchapter S corporation in Minnesota may file articles of incorporation on the Minnesota secretary of state's website, in person or by mail. As of 2010, it costs $160 to file articles of incorporation for a subchapter S corporation in Minnesota; a $10 express service fee is charged to file online.
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File Form 2553 with the IRS. Form 2553 may be downloaded from the IRS website or sent by mail. Include information such as the name and location of the Minnesota S corporation, as well as the purpose for which the business was created. According to the IRS website, all shareholders of a subchapter S corporation in Minnesota must sign Form 2553.
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