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Minnesota Annual Report

Date: 07/06/2015 | Category: | Author: Jakub Vele

Annual Reports for Minnesota Corporations & LLCs

The Annual Business Renewal forms for Corporations and LLCs are filed annually in the month of incorporation. So long as they are not late, there is no fee.

If you need help, we can file the Business Renewal Form for you. To order our service, please click on the following link:

Order Minnesota Annual Business Renewal Service

Additional Services

Date: | Category: | Author: Jakub Vele

Minnesota Additional Services

TAX ID (Employment Identification Number - EIN) - FREE

Self-Service: Obtaining a Tax ID number doesn’t cost any money. You can apply by phone, fax or mail. You can also call toll free at (800) 829 4933 and get EIN instantly over the phone. If you apply by fax, it takes about 4-5 business days. If you apply by mail, it takes about 3-4 weeks. Please find information about Tax ID – EIN here.

Full Service: Do you need assistance with obtaining a tax ID? We can help prepare the form and obtain the tax ID for $45. Order here Tax ID.

S CORPORATION STATUS ELECTION

What is “S Corporation”?: An “S Corporation” is a corporation that elects to be taxed under Subchapter S of the Internal Revenue Code and receives IRS approval of its request for Subchapter S status. As a legal entity (an artificial person), the S corporation is separate and distinct from the corporation’s owners (the stockholders). Under Nevada incorporation law, there is no distinction between a C corporation and an S corporation. The incorporation process is the same. However, the two type of corporate entities are subject to differing federal and state tax treatment. Our cost is $45. Order S Corporation filing here.

CORPORATE KITS

Corporate kits start at only $82.50. LLC and INC. Click here to order corporate/LLC kits for any U.S. state.

MINNESOTA CERTIFICATE OF GOOD STANDING

A certificate of good standing (certificate of existence) is a document issued by the Secretary of State certifying that your corporation does exist legally and that it is in good standing with the state. We can obtain one for you. The fee is $89 + state fee.

MINNESOTA APOSTILLE

In 1981, the United States joined the 1961 Hague Convention abolishing the Requirement of Legalization for Foreign Public Documents. The Convention provides for the authentication of public (including notarized) documents to be used in countries that have joined the convention. Apostille of Articles of Incorporation or other document is issued by the Secretary of State. Price is $89 + state fee.

MINNESOTA REINSTATEMENT OF CORPORATION/LLC

If your charter was revoked and you want reinstate the company, you have to pay all due fees and penalties and file appropriate annual reports.

Do you need somebody to handle reinstatement for you? Please contact us! We charge $89. We can find out how much money you owe for state fees.

MINNESOTA AMENDMENTS OF ARTICLES

There are times when a business needs to change the information included in the Articles of Incorporation or Articles of Organization. To do this, you need to file an amendment with the Minnesota Secretary of State. Some reasons a business may need to file an amendment are to change the company’s name, to expand or alter the company’s business purpose, or to change the number of authorized shares or par value (for corporations only).

Do you need somebody to handle the filing of amendment for you? Please contact us! We charge $89 + state fees. Pay by PayPal (our email address is paypal@https://incparadise.net).

FOREIGN QUALIFICATION (all U.S. states)

Registration of foreign company qualifying to conduct business in other states: If your company expects to transact business outside your state of formation, your company may be required to qualify as a “foreign corporation” or “foreign LLC.” We can file the necessary paperwork to qualify your business as a foreign corporation or LLC in any of the 50 states.

Do you need somebody to handle foreign qualification for you? Please contact us!

Read more information about Foreign Qualification here
Foreign qualification fees

U.S. ADDRESS FOR PERSONAL OR BUSINESS USE AND MAIL FORWARDING

Do you need U.S. street address as your mailing address. Mail is forwarded once a week. We offer mail forwarding service based in Las Vegas, NV.

There are two options:
$150 per year. $2.50 per mailout plus postage.
$99 per year. $5.50 per mailout plus postage.

To order mail forwarding, click here.

BUSINESS LICENSE REPORT

Business licenses are mandatory for every business in the USA to operate legally. You may require federal, state, local licenses, permits, and tax regulations for your business.

Obtaining business licenses and permits is a daunting and time-consuming process as it entirely depends on the business industry, location, etc. IncParadise makes the business license process easy for you by delivering a report that lists the required federal, state, local licenses, permits, and tax regulations. Our expert research team searches, identifies and verifies the local, state, and federal licenses and permit requirements for your business type and location. They then send you the report with a list of these business license requirements so that you can save yourself time and effort.

Order Business License Report

LOCAL VOICE MAIL AND FAX. FAX TO EMAIL.

We offer brand-new local voice mail or fax number. We will also issue you a password that will allow you to access the voice mail system in order to retrieve messages and/or set up your own customized greeting. Faxes can be forwarded to your email. Service available in MINNESOTA: Minneapolis. More details about local voice mail and fax services.

TOLL-FREE NUMBERS

We offer the best toll-free numbers on the market. Nationwide businesses, mid-sized and small businesses, and families can order toll-free 800 services and get a number that rings directly to your home or business. Redirect it to your fax machine or cell phone and back as you change locations. Track calls on the Internet in real time. Select an easily remembered vanity number for your business. You will get: custom routing, voice mail, inbound faxing, website account management, call recording, lead generation, vanity numbers, national toll-free database search and much more!

More information here.

FAQ

Date: | Category: | Author: Jakub Vele

Minnesota Incorporation Frequently Asked Questions

Do I need to reserve a corporate name?

No, but it is recommended to reserve a name prior to filing to ensure that it remains available during the incorporation process.

How do I reserve a corporate name?

The reservation of your corporate name will be handled by IncParadise and is included in the price of our service.

Do I have to renew my name registration?

Yes as part of the annual registration process. See answer under annual report.

How do I incorporate in Minnesota?

When using our service, IncParadise will file, on your behalf, the required administrative forms and articles of incorporation with the appropriate Minnesota agency.

Is a registered agent required?

Yes. The registered agent may be a natural person residing in Minnesota, or a business entity formed or authorized to transact business in Minnesota. The registered agent must maintain a business office that is identical with the registered office. As part of our ongoing service, IncParadise does provide a registered agent service option that you can select during the online registration process.

How many Incorporators are required to form a corporation in Minnesota?

One or more are required.

How many Directors are required to start a corporation in Minnesota?

One or more as defined in the bylaws.

Are corporations in Minnesota required to file an Annual Report?

Yes. A registration form must be filed each year by December 31, except for the first calendar year of incorporation.

Didn’t find answer to your question? Email as at info@incparadise.com

Incorporate in Minnesota

Date: 09/24/2018 | Category: | Author: Jakub Vele

Incorporate in Minnesota

Minnesota is one of the leading states in the nation in terms of agricultural receipts and generates almost 4% of the nation’s total agricultural receipts. The revenue generated comes from five different agricultural products and they are hogs, corn for grain, dairy products, soybeans, and cattle. There is an increasing trend of setting up companies in Minnesota especially in the manufacturing industry like the computer and electronic products that includes manufacturing of medical devices, communications equipment, agricultural machinery, transportation equipment, and computer components. This diverse industrial focus of Minnesota based businesses has contributed hugely to the current-dollar GDP, which was estimated at $351.1 billion in 2017.

Why Choose Minnesota for Incorporation?

Is company incorporation in Minnesota a really good business option? Minnesota does not only offers a great business climate but also the opportunity in the form of business incentives so that start ups can grow within the state.

Now let’s take a look at some of the salient reasons that are responsible for fuelling the growth of small businesses:

  • Border-Cities Enterprise Zone Program: The primary aim of this program is to ensure that different types of business tax credits are made available to businesses that qualify for this program. After incorporation in Minnesota, you can benefit from tax credits like property tax credit, sales tax credit on construction equipment, debt financing credit on new construction, and tax credit on construction materials, and new employee credits.
  • Greater Minnesota Job Expansion Program: This is a program that provides qualifying business with tax benefits. Businesses that are located in Greater Minnesota and aid in increasing employment will be able to benefit from sales tax refund on specific purchases (purchase and use of construction materials) that have been made during a seven-year period.

How do you incorporate in Minnesota?

Is there a process for company incorporation in Minnesota? Do you require any specific documents? How can you submit or file these documents? These are some of the questions that you will be confronted with and hence the following steps will provide you with information on how incorporation works in Minnesota:

Type of Business

What type of business would you like to form in Minnesota? Will it be a Sole Proprietorship firm or a C Corporation? The type of domestic or foreign businesses that can be incorporated or formed in the state include Domestic and Foreign Corporation, Limited Liability Company (Domestic & Foreign), Cooperative (Domestic) – Chapter 308A, Limited Liability Partnership (LLP), Limited Partnership (LP), and Nonprofit Corporation. The first step towards company incorporation in Minnesota is to identify the type of business you want to set up.

Business Entity Name

What is the next step towards incorporation in Minnesota? The next step is to identify and reserve a name and this can be done as follows:

  • Naming Requirements: The naming requirements for LLC should be pursuant to 2017 Minnesota Statutes, 322C.0108 while that of a business corporation should be pursuant to 2017 Minnesota Statutes, 302A.115. The name of each limited liability company must contain words like “Limited Liability Company” or abbreviations like “L.L.C.” or “LLC”. A corporate name must contain words like “corporation”, or “incorporated” or abbreviations like “corp.” or “inc.”
  • Business name search: You need to search for a business name that is not in use currently. You can conduct name search here.
  • Name Reservation: Once you have identified a business entity name, you can reserve the name with the Secretary of State for a one year period. Application for Name Reservation

Choose a Registered Agent

The 2017 Minnesota Statutes, 322C.0113 (LLC) and 2017 Minnesota Statutes, 302A.121 (Business Corporations) states that each Business or Professional Corporation and Limited Liability Company is required to maintain a registered agent in the state of Minnesota. We are one of the respected registered agents in Minnesota and will be responsible towards initiating company incorporation in Minnesota through processing of all your documents including “Articles of Incorporation” for domestic corporations and “Certificate of Authority” for foreign corporations.

Articles of Incorporation and Certificate of Authority

If you are planning to form a domestic corporation (For profit), then you will have to file “Articles of incorporation” pursuant to MN Stat § 302A.111 (2013). If you are planning foreign business incorporation in Minnesota then you will be required to file a “Certificate of Authority” pursuant to MN Stat § Chapter 319B.01 to 319B.12. In order to streamline the process we can file documents on your behalf through an online process or an expedited process.

Date Stamped Copies

As a part of the process of company incorporation in Minnesota, we will ensure, you receive date-stamped and filed copies that verifies that the state has filed as well as formed your corporation.

Costs and Fees associated with Minnesota Incorporation

What would it cost to set up a company in Minnesota? Check Fees here!

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Minnesota LLC and Corporation Registration and Formation

Date: 09/25/2018 | Category: | Author: Jakub Vele

Minnesota LLC and Corporation Registration and Formation

Minnesota enjoys a strong economic climate and high quality of life. It is ranked 3rd in the United States as one of the top states to form a business. The state has a good business-friendly environment and a pro business tax structure. As a result, some of the top Fortune 500 companies are situated in the state and this includes Target, UnitedHealth Group, Mayo Clinic, 3M, Cargill, Sanford Health, Pentair, Country Inns & Suites by Carlson, Best Buy, and LTF Holdings Inc., among others.

There are different types of businesses that can be formed in the state. If you are planning to form a Minnesota business LLC or Corporation then what is the procedure? There is a specific procedure that will ensure proper registration of your business in the state. We have created a small guide to help you in getting an insight into the process.

If you feel overwhelmed by the process or require any information regarding company formation in Minnesota then we are there to help you! We are one of the top Minnesota registered agents and are familiar with all business processes pertaining to the state of Minnesota.

Minnesota LLC Registration and Formation

Minnesota LLC Registration & Formation

LLC company formation in Minnesota is governed by Chapter 322C – Minnesota Revised Uniform Limited Liability Company Act. The procedure for registration and formation of LLC is as follows:

Step#1: Maintain a registered agent

If you are planning to form a Limited Liability Company in Minnesota then you will be required to continuously maintain a registered agent in the state pursuant to 2017 Minnesota Statutes 322C.0114. This law is applicable for domestic limited liability companies as well as foreign limited liability companies. We would take this opportunity to share with you the fact that we are one of the top registered agents in the state and have been responsible for over 11,494 businesses set up in Minnesota. We can assist you to form a Minnesota business LLC.

Step#2: LLC Name Reservation

One of the foremost steps towards company formation in Minnesota is identifying a name for your business entity. What is the process? The process is as follows:

  1. Identify a name for your business entity
  2. According to 2017 Minnesota Statutes 322C.0108, the name should contain the phrase or words “limited liability company” or the abbreviations “L.L.C.”, or “LLC”.
  3. The chosen name should be distinguishable and should not be deceptively similar to the name of any limited partnership, corporation, or limited liability company
  4. Apply for reservation of name pursuant to the provisions of 2017 Minnesota Statutes 322C.0109
  5. Submit the form through mail or online with the Office of the Minnesota Secretary of State along with the applicable fee. An LLC can reserve its name for a period of twelve months.

Step#3: Articles of Organization and Certificate of Authority

If you are planning to form a Minnesota business LLC then the most important step is to prepare and file the proper documents for a Limited Liability Company. The steps are:

  • If you want to register a domestic LLC then you will be required to file “Articles of Organization” governed by 2017 Minnesota Statutes, 322C.0201.
  • If your business entity is a foreign LLC then you will be required to file “Certificate of Authority” pursuant to 2017 Minnesota Statutes, 322C.0802.
  • The application or documentation for registration of LLC can be filed with the office of the Minnesota Secretary of State – Business Services, through mail, in person or online.

We can file the form on your behalf as your registered agent in the state and provide you with certified copies of the LLC registration.

In case, you have any questions regarding how to form a Minnesota business, feel free to call us at 702-871-8678.

Minnesota Corporation Registration and Formation

Minnesota Corporation Registration & Formation

If you are planning to form a Corporation in Minnesota then the procedure for registration and formation is as follows:

Step#1: Maintain a Registered Agent

If you are planning to form a business or professional corporation in Minnesota then you will be required to continuously maintain a registered agent in the state pursuant to 2017 Minnesota Statutes 302A.121. This law is applicable for domestic as well as foreign corporations. We would take this opportunity to share with you the fact that we are one of the top registered agents in the state and have been responsible for over 11,494 businesses set up in Minnesota. We can assist you to form a Minnesota business as we are in compliance with all regulations in the State of Minnesota.

Step#2: Corporate Name Reservation

In order to form a corporation in Minnesota, one of the key steps is identifying a name for your business entity. What is the process? The process is as follows:

  1. Identify a name for your business entity
  2. According to 2017 Minnesota Statutes 302A.115, a corporate name should contain the phrase or words “corporation”, “company”, “incorporated”, or the abbreviations “Corp.”, or “Inc.”
  3. The chosen name should be distinguishable and should not be deceptively similar to the name of any limited liability company, limited partnership, or corporation
  4. Apply for reservation of name pursuant to 2017 Minnesota Statutes 302A.117.
  5. Submit the form though mail or online with the Office of the Minnesota Secretary of State along with the applicable fee. A business corporation can reserve its name for a period of twelve months.

Step#3: Articles of Incorporation and Certificate of Authority

If you are planning to form a corporation in Minnesota, then the most important step is to prepare and file the proper documents for a business corporation. The steps are:

  • If you want to register a domestic corporation then you will be required to file “Articles of Incorporation” pursuant to MN Stat § 302A.111 (2013).
  • If your business entity is a foreign corporation then you will be required to file a ” Certificate of Authority” to transact business in the state pursuant to MN Stat § Chapter 319B.01 to 319B.12.
  • The application or documentation for registration of a corporation can be filed with the office of the Minnesota Secretary of State – Business Services, through mail, in person or online.

We can file the form on your behalf as your registered agent in the state and provide you with certified copies of the incorporation.

If you have any questions regarding Minnesota incorporation or LLC formation, you can simply visit the Minnesota Business formation page.

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Advantages of Incorporating a Business in Minnesota

Date: | Category: | Author: Jakub Vele

Advantages of Incorporating a Business in Minnesota

Minnesota is a state that provides every start-up and small and medium sized enterprise with several advantages including a bright and sunny business climate. Forbes ranked Minnesota as the 15th best state to establish and operate a business. Some of the factors that provide the most favorable conditions for a start-up company in Minnesota to grow include competitive tax rates, strong pro-business policies, streamlined regulatory processes, and a low operating expense. Apart from this, businesses can benefit from an educated and highly skilled workforce.

Advantages of setting up an LLC Or Corporation

When you register a new company in Minnesota, your business entity gets the much needed platform and opportunities in the form of advantages and benefits that will drive economic change and overall growth. One of the major factors behind the growing economy of the state is innovation and based on this, it is ranked seventh in the nation.

If you are planning to form an LLC or a Corporation in Minnesota then what advantages or benefits can the business benefit from? Let’s look at the advantages of the most common forms of formal associations:

Advantage#1: Salient benefits of Corporation or LLC formation

Corporation

  • Favorable Tax Advantage: If you register a new business in Minnesota, you can take advantage of the fact that the state does not tax the following:
    – Personal property
    – Utilities
    – Inventories
    – Internet access
    – Custom-created software
    – Information services
  • Change in Ownership: If you have formed an S Corporation in Minnesota then sale, purchase, as well as gifting of stock can facilitate changes in ownership. The changes can take place without disturbing the ability of the corporation to conduct its business.
  • Independent Life: If you register a new business in Minnesota as an S Corporation then the most important advantage is that it will enjoy an independent life. The business entity will continue operations undisturbed even if it is faced with the death of one of its stockholders.

LLC

  • Resources for Entrepreneurs: A start-up company in Minnesota can benefit from different resources that will be available to help in the journey towards innovation and growth. These resources are being implemented through several programs initiated by Minnesota Department of Employment and Economic Development (DEED).
  • Limited Liability: The owner of a Minnesota LLC will be able to enjoy limited liability protection, which means creditors can sue the LLC but not the owner or investors.
    No Minutes of meetings: Unlike a corporation, an LLC startup company Minnesota will not be required to maintain any minutes of the meetings or resolutions.

Advantage#2: Business Incentives

Once you register a new company in Minnesota as an LLC or a C or S Corporation, there are a variety of incentives and state based programs that you can benefit from. Let’s take closer look at the most popular incentives for businesses in Minnesota:

  • Minnesota Opportunity Zones: This is a type of new community development program that has been established to encourage long-term investments from a start-up companies in Minnesota in a low-income community. A business entity located in an opportunity zone will be eligible to receive the following:
    – Temporary tax deferral on capital gains
    – Permanent exclusion from taxable income on capital gains
    Map of Opportunity Zones
  • DEED Financing Programs: There are a number of financing programs introduced by Minnesota Department of Employment and Economic Development (DEED) to help businesses in creating high quality jobs and retain existing jobs. The fund amount varies from one program to another. For instance, the ceiling amount for the Minnesota Job Creation Fund is $1 million while the Minnesota Innovation Loans for Entrepreneurs (MILE) provides a maximum of $20,000 to $50,000. Know More

If you register a new business in Minnesota, there are several other incentive programs that you can benefit from including Minnesota Foreign Trade Zones, Emerging Entrepreneur Loan Program, Greater Minnesota Business Expansion Tax Credits, Border Cities Enterprise Zones, Tax Abatement Program, Bioscience Incentive Program, and Research and Development Tax Credit among others.

Are there any Disadvantages of Incorporating in Minnesota?

A start-up company in Minnesota, whether domestic or foreign will enjoy more benefits in the state. Of course there are a few disadvantages. For example, incorporation may lead to higher overall taxes. The good news is that the disadvantages will not have any negative impact on business growth in the long run.

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