Steps to Forming a Minnesota Corporation
Information We Need From You to Start Your Corporation
1: Select a Name: Your company name must include one of the following words or abbreviation of these words: Incorporated, Corporation, Limited, or Company. The word “Company” cannot be immediately preceded by “and” or “&”.
2: Authorize Shares: Corporations are owned by shareholders, who own shares of stock in the company. Minnesota requires you to identify how many shares of stock you intend to initially authorize. In most cases, a corporation authorizes a small number of initial shares, say 100. At the first stockholders meeting, you would issue 51% of those shares to yourself, giving you control of the company. The other 49% can be held for later business partners.
3: Choose Management: Corporations are controlled by their Directors, who are responsible for setting major company policy, issuing stock, and appointing the corporate officers (President, Treasurer, Secretary). Typically, you would assign yourself the sole Director. In most cases, you would also take on the roles of all the corporate officers.
4: Remaining Info Needed to File:
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Registered Agent: all lawful registered agents must maintain a physical street address within the state. This is known as a registered office. It cannot be a PO box. All our Speedy filings come with one free year of Minnesota registered agent service by Northwest Registered Agent. This service will keep your personal home and office addresses off the public record and fulfill your registered agent, mailing and principal address requirements.
Form Your Corporation Here Online
Steps to Forming a Minnesota LLC
Information We Need From You to Start Your LLC
1: Select a Name: Your company name must contain the words Limited Liability Company or the abbreviation LLC It cannot include the words Corporation or Incorporated (or any of their abbreviations). To see if your company name is currently available, you can do a Minnesota business name search.
2: Membership: An LLC is owned by its members. Members do not receive shares of stock as they would in a corporation. Instead, they are given an ownership percentage. Ownership percentages are generally in proportion to the amount an investor has invested in the company.
3: Choose Management: Most LLCs are managed by their members. Members set company policy and usually take part in the daily operations of the business. However, an LLC can also choose to appoint a manager to run the company. Managers can be members, or they can be outside parties.
4: Remaining Info Needed to File:
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Registered Agent: legal registered agents in the state of Minnesota must have a physical street address in the state. This is called a registered office (cannot be a PO box). Our Speedy filings come with one free year of Minnesota registered agent service. This free service keeps your home and office addresses off the public record and fulfills the registered agent, mailing and principal office address requirements.
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Duration: if you want your LLC to be dissolved at a specific later date, you can specify the exact day.
Form Your LLC Here Online
Testimonials
“I have no idea why I waited so long to do this. I guess I thought it would be hard. Thanks for making it exactly the opposite. ” – Ann R., Wolverton, Minnesota
“You provide a really good service. You were available by phone when I needed you and everything wasd done so quick. Thanks.” – Jonathan G., Baxter, Minnesota
“I am so glad I finalized my corporation with you. You made what seemed to me like a huge task into a simple one. Thanks.” – Shannon M., La Salle, Minnesota
