How to Incorporate in Minnesota State
In Minnesota, business incorporation is handled by the secretary of state's office. Fortunately, Minnesota is a state that makes the incorporation process accessible to the lay person by providing a website with complete step-by-step instructions, PDF templates of important documents, a business search database and an electronic filing system. To incorporate a business in Minnesota, visit the website and follow the instructions for registering a new corporation by filing articles of incorporation.
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Instructions
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Navigate to the "Business & Nonprofit" section of the Minnesota Office of the Secretary of State's website. This website provides all the information you need to incorporate a business in the state. Follow the "Starting a Business" link to the "Minnesota Business Corporations" link. The corporations page indicates that you must file articles of incorporation to incorporate a business and provides a link to file the articles electronically or to access a fill-in-the-blank form that can be submitted by mail.
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Check the availability of your business name by conducting a name availability search. Click on the "Search" link on the side bar and follow the "Check Availability of a Business Name" link. This provides access to the state database of business registrations. Minnesota law requires all businesses to operate under a unique name. This avoids confusing the public and protects existing businesses. The law also requires that a corporation use the word "Corporation" or "Incorporated" or an abbreviation as part of its name to notify the public that the business will be operating as an independent entity apart from its owner.
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Download the "Articles of Incorporation for a MN Business Corporation" in the "Minnesota Business Corporation Forms" section of the website. This form requests the minimum information required by Minnesota law for an acceptable filing. You are not obligated to use this form. It is acceptable to prepare your own articles and include any special provision allowed by law, such as special classes of stock. However, by using the state-provided template, you guarantee that your filing will be accepted by the state without the need for revision.
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Fill out the articles of incorporation. Note that you can fill out the paper template or complete the form through Minnesota's online filing system. Both methods request the same basic business information: the name of the business; the name and address of the registered agent; the number and value of the initial authorized shares of stock; and the name, address and signature of the person filing the paperwork, known as the incorporator.
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File the articles with the state. You can file the articles of incorporation by mail, in person or by using the electronic filing system. The filing requires the payment of a fee ($160 as of 2010). If you use the electronic system, an additional fee will apply. If you use the electronic system, your filing will be processed within one business day. If you file by mail, processing time is not guaranteed unless you pay a fee to expedite the process. Your business is considered incorporated as of the day the state processes your filing.
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Tips & Warnings
There are business incorporation companies that will handle the setup of your business for a fee.
References
Resources
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