What You Need To Know About Obtaining A Minnesota Business License
When you have a business in any state, depending upon the type of merchandise or services that you offer, a business license may be necessary. The most obvious examples of this would be owning a department store, or liquor store, that will require specific types of licensing. It is important to know if you need one, and if so what type, before you even start to market your products or services. You can easily find this information online, and at the same time, you may want to consider downloading information and documents related to forming an LLC. Limited liability companies are becoming more prominent, even with small businesses that only have an online presence. Let’s discuss how you can determine what type of Minnesota business license you need and then present the positive aspects of setting up your LLC.
How To Get A Minnesota Business License
First of all, it needs to be stated that not every LLC in Minnesota, like every other state, is going to require you to have a business license to offer your products and services. Many of them do not need any special permission, nor do they have to operate their business within any form of constraint. There may be regulations that will pertain to the type of business they are in, such as environmental businesses that will certainly need permits and licenses. The reason for the licensing is to protect consumers, and the same is true for companies that will need permits. To determine if you need one, you will go to the main Minnesota government website and look at the Minnesota Licensing section. It is there you will be able to determine if you need a business license and if so, if you may also need permits, bonding requirements, or other documents to allow you to legally operate your business in Minnesota.
What Happens After You Find This Information?
Subsequent to obtaining this information, you can then proceed forward with setting up your business. You could be creating a sole proprietorship, partnership, and it is advantageous to set up an LLC. When you create a limited liability company in Minnesota, it’s going to protect you, the members of your LLC, and even your managers from potential legal threats that may arise. That’s why having one is so important, in the process of doing so is relatively simple, requiring only a couple of documents.
How To Set Up An LLC In Minnesota
The initial step that every single person will take is to first determine if the LLC business name that they want is available. If you do find that it is available, you can register that business name, or simply reserve it for up to 12 months through the Office of the Minnesota Secretary of State Business and Lien system. Doing so will require a $50 fee. However, if done by mail, you can save $20. There is also the requirement of publishing, for two consecutive issues, the official Certificate of Assumed Name in a publication.
What Documents Will You Need To Submit?
To form a limited liability company in Minnesota, you are required to file Articles of Organization. This document must be submitted, along with a $135 filing fee, to the Minnesota Secretary of State. This form will include the name you have chosen for the LLC, the name and address of the registered agent, and the signature, address, and the name of the LLC organizer. In addition to that information, the organizer will also have to provide the email address that they are using and their phone number. If you would prefer to file this in person, it’s $155, or you could do the same online. Keep in mind that you will also need to first find a registered agent. That is how you will be able to list their information. If you don’t know how to do this, you can find companies that can help you find this individual or business that will have a physical address that can receive your legal documents.
Reasons To Fill Out An Operating Agreement
If you want to fill out an operating agreement, you should do so, knowing that it’s not actually necessary in the state of Minnesota to do so. It simply establishes all of the rules and functions within the LLC that the managers and members are responsible for. It designates your LLC as a separate business entity. Therefore, if any legal troubles arise in the future, this can be presented to the court to reinforce this fact. While you are submitting the papers, or at least while you are waiting the 4 to 6 weeks for them to be approved, you can then apply for your business licenses. Other things to consider would be getting your EIN number for employees. You will also need to consult with the Department of Revenue for determining how much sales tax you will have to collect for your business. This process can be straightforward, but for those that are not well-versed in filling out these types of documents, companies can help you complete this entire process.
Locating a business that offers information about Minnesota business licenses, and forming LLCs, is easy to do. There are more businesses being form today than ever before. Knowing this, many savvy business owners have started to provide services for these purposes. If your main concern is forming an LLC, there are companies that can help you complete the documents and submit them for you. You can look for these companies today, and in the span of just hours, be connected with a reputable business that can assist you with a business license and LLC information.