How to Start an LLC in Minnesota
A limited liability company in Minnesota offers members of the company personal asset protection from business obligations, judgements, liabilities and debts. Furthermore, a Minnesota LLC provides members of the business with the simplicity and flexibility realized in a partnership. A Minnesota LLC starts when the proper formation documents get filed with the Minnesota Secretary of State. Also, the members of the business must create written rules and regulations for running the business.
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Instructions
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Pick a unique name for the Minnesota LLC. The name of the company must not be too similar to an existing entity registered with the Minnesota Secretary of State. Check name availability using the Minnesota Secretary of State website to ensure the selected name of the Minnesota LLC is distinguishable from other businesses in the state. Include the phrase "limited liability company," or an abbreviation like "LLC" in the legal name of the Minnesota LLC.
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Acquire fill-in-the-blank articles of organization from the Minnesota Secretary of State. Print the articles of organization from the Minnesota Secretary of State website, or call 651-296-2803 to request the Minnesota articles by mail. Visit the Minnesota Secretary of State's office to pick up articles of organization in person. The Minnesota Secretary of State's office is located in the Retirement Systems of Minnesota Bldg., 60 Empire Dr., Ste 100, Saint Paul, Minnesota 55103.
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Fill out the articles of organization. State the name and address of the Minnesota LLC, along with the purpose for forming the business. Indicate the name and address of the company's registered agent that has the responsibility of accepting lawsuit paperwork served against the company. List the name and address of each organizer. LLC organizers have a duty to file the company's articles of organization with the Minnesota Secretary of State. Include the exact date when the company will dissolve, or communicate that the Minnesota LLC will have an unlimited existence.
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Submit the completed articles of organization to the Minnesota Secretary of State. File the articles electronically using the Minnesota Secretary of State website, by mail or in person at the Minnesota Secretary of State's office. As of 2011, it cost $160 to file articles of organization with the Minnesota Secretary of State. Pay an additional $10, as of 2011, to file articles of organization online using the Minnesota Secretary of State website.
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Write an operating agreement to establish the policies and procedures that will govern your LLC. Minnesota does not impose specific guidelines on an LLC's operating agreement. Include provisions for buying out a departing member and accepting new members. Communicate the duties and responsibilities of the company's members and managers, as well as the contribution of each member. Keep the operating agreement at the LLC's primary office location, as an internal document of reference.
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