State Information

Minnesota

Selecting the Minnesota Corporation or LLC Name

When selecting a name for your corporation to be registered in the state of Minnesota, it should be remembered that the name will be unique and will identify you as a separate entity transacting business in the state. The name of a corporation must end with “Incorporated,” “Corporation,” “Corp” or “Inc.”. When developing a name for a limited liability company it must end with “Limited Liability Company” or “LLC”.

Do not use any type of punctuation marks such as dashes, periods, slashes, exclamation points, @ symbols or commas in name selection.

It is advantageous to try to name your corporation or LLC so that it identifies with the goods or services you provide, but this is not required.

Selecting a Board of Directors

A corporation can have several members as director but it is only required to have one. Since the board or directors is responsible for overseeing the corporation, it is suggested that the board be comprised of individuals that are officers or shareholders who have some type of daily involvement with the corporation. Minnesota has no minimum age requirements for a director.

Minnesota Taxes

Corporations are expected to file the Minnesota Corporation Franchise Tax return, Form M4, whether a “C” or “S” corporation. The amount of tax is dependent on a number of factors and there is no minimum tax.

An LLC within Minnesota is required to file as either a corporation or a partnership dependent on the election made on the SS-4. Minnesota maintains an individual income tax so employers are expected to withhold state income tax. Minnesota maintains a general sales and use tax of 6.5% along with each county/city having the right to charge additional amounts.

Registered Agent

The registered agent must have a physical street address within Minnesota state. PO boxes are not acceptable, within Minnesota.

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