How To Successfully Accomplish A Minnesota Business Entity Search
Prior to beginning the process of creating a Minnesota LLC, it is imperative that you determine if that name is available. Even if your business name is going to be different, you need to know that the name you will use for your limited liability company is not registered by another business. You can do this by going to the Secretary of State website for Minnesota. You will go to the business lien section, followed by the start of the business section, and it is there that you will find the link to the Online Businesses Services page. Once there, simply go to business structure, and complete the process of searching for the business entity name. This must be done, prior to any of the other paperwork that you will fill out because you will need to put the name of the LLC on the documents. Once that is done, you will then proceed forward using this business name that you have registered to get your LLC.
What Documents Are Required To Get An LLC In Minnesota?
The documents that you will need will include the Articles Of organization and the Operating Agreement. Of course, you must comply with any regulatory or tax-related requirements of the state depending upon your business. Filing annual renewals are also necessary if you want to keep the LLC, and you must also have retained a registered agent that can be the mediator between you and those that are sending you legal documents.
Filling Out Your Articles Of Organization
This is the primary document that you are going to submit to the Minnesota Secretary of State’s office. Once it is submitted, after 4 to 6 weeks, you will hear back from them regarding its approval. If it is not approved, it is likely because you left out specific components that are necessary to complete the document. For example, you need to have the name of the registered agent, as well as their address, on the document. You must also include the LLC organizer name, email, phone number, address, and they must also sign the document. Once completed, it must be submitted with a $155 fee if you are submitting this online or in person. You can save $20 by sending this in by mail and include a check made out to the Minnesota Secretary of State.
Other Documents That You Should Also Fill Out
One other document that is of great importance is the Operating Agreement, a document that is not needed for the formation of your LLC. It serves a completely different purpose. From a personal perspective, it allows you to properly identify who all of the members and managers are, what their responsibilities and rights are, and it can also clearly identify your limited liability as a separate business entity. This is of great importance in legal matters. For example, if you are being sued, and people want to get access to your personal assets and earnings, they will not be able to with this in place. This document serves, at least in a court of law, as evidence that the LLC is protecting you. To get your Tax Id Number you will also want to fill out the SS-4 application.
Is This Something That Every Business Owner Should Do?
There are several types of businesses that may never form an LLC. For example, if you are in an industry where customer complaints are low, and it is seldomly litigious, you will probably not need one. You could be a landscaper, or you could be providing freelance services, perhaps related to building websites or submitting content. On the other hand, if you are selling products or services that could potentially injure someone if mishandled, you certainly want to have an LLC in place. This is something that you will need to decide based upon your assessment of who your customer base is and what you are selling to them.
How To Get Help If You Need It
If you do need assistance in filling this paperwork out, you can always work with a professional business that can offer you this type of aid. They will have years of experience in helping other people, as well as other businesses, completing the LLC paperwork. Most people will only need help in filling out the Articles of Organization, but if you are doing the Operating Agreement, you can also get help from them for that as well. Once done, they will also submit this for you, allowing you to a full company that your submission will be sent in properly to eventually be approved by the Minnesota Secretary of State.
Setting up your LLC could be one of the most important decisions that you ever make. As long as the documents are filled out properly, and submitted in a timely manner, yours will be set up within weeks. It is a great way to protect your assets, and also identify who the members and managers are of your limited liability company for personal reference or for legal reasons. If you need help, contact one of these reputable businesses today.