If you already have an LLC in another state and want a Minnesota LLC, then starting an LLC would be somewhat different. You must register as a foreign LLC. We have here a guide on how you can qualify and register for a foreign LLC in Minnesota.
On this page, you’ll learn about the following:
- Forming an Minnesota Foreign LLC
- Steps to Filing Minnesota Foreign LLC Online
- After Forming Minnesota Foreign LLC
Forming an Minnesota Foreign LLC
A foreign LLC does not need to be a company from another country but a business formed under the laws of another state. To start a foreign LLC in Minnesota, you need to register it with the Minnesota Secretary of State.
Step 1: Choose Minnesota Foreign LLC Name
Obtain a name reservation certificate and submit it with your foreign qualification requirements at the Minnesota Secretary of State. Your LLC’s legal name outside of Minnesota will be listed on the application, along with the name it will use in Minnesota. Take note of the requirements for naming your LLC.
Check name availability at Minnesota’s business entity names and reserve your LLC name.
Step 2: Select Minnesota Foreign LLC Registered Agent
You’ll need a registered agent to form a foreign LLC in Minnesota and take note that a Minnesota registered agent must have a local address. Here are three of the best LLC services on our list that will provide you with registered agents to ease your worries:
Step 3: File Registration of Minnesota Foreign LLC
Fill out and submit a Foreign LLC Application for Registration form via email to [email protected] or by mail to Minnesota Secretary of State – Business Services, Retirement Systems of Minnesota Building, 60 Empire Drive, Suite 100, St Paul, MN 55103..
Include the following:
- LLC’s full legal name.
- A fictitious name or a DBA (only if your LLC’s legal name is not available); Attach a statement of adoption of the fictitious name signed by all LLC members.
- LLC’s principal office and mailing addresses.
- LLC formation state and date.
- Registered agent’s name and address in Minnesota
- Date when your LLC will start operations in Minnesota.
- Credit card information on the last page of the form for the $150 application fee.
The LLC cost in Minnesota, even for foreign LLCs will differ between online filing and by mail.
Step 4: Determine How Your Minnesota Foreign LLC is taxed
Foreign LLCs are also subjected to the Minnesota Business Privilege Tax, and they must file LLC annual reports each year.
Note that forming a foreign LLC would be good for your business as you can legally operate in a different state thus reaching a larger market and opening more opportunities for higher profit.
Steps to Filing Minnesota Foreign LLC Online
Time needed: 5 minutes.
When you are registering for the foreign LLC in the State of Minnesota, you will have to submit your Application for Registration of foreign LLC with the Secretary of State which costs $205. After approval, you will receive a Verification Certificate from the State Office. The State offers offline as well as online filing options. We have explained the aspects you need to cover when you apply for Minnesota Foreign LLC.
- Go to the Official Michigan SOS website
Visit the Online business filing system on the Secretary of State of Michigan website. The portal offers a one-stop solution to all business filings and information.
- Log in to your Account
On the next page, a login page will appear. If you have an account with the Secretary of State office already, enter your login credentials such as user email and password and click “Login”. If you do not have an account, click on the “Create an Account” option available on the left side of the login box.
- Create an Account
On the next page, create your account by entering the required details, such as Email and password. Clear the captcha and check the box agreeing to the terms and conditions. Next, click on the ‘Create Account’ tab.
- Check the Instructions
After your account has been created on the website, continue to log in with your username and password. After signing in, under the heading of “File a New Business or Nonprofit”, select the option of “Limited Liability Company (Foreign)” on the user account page. Next, follow the guidelines and fill in all the required information.
- Review the information
Before proceeding to submit your application, review the information to be accurate and correct.
- Attach Certificate of Good Standing or Existence
You must attach the Certificate of Good Standing or Existence issued by proper authority in the State of Original Jurisdiction.
- Make the payment
After you complete all the details and thoroughly review your application, proceed to make the payment of $205 for the filing fee of your LLC Application.
You can also submit the application offline via mail. Download the Application Form PDF. Fill in the required details. Make the check or money order of $185 payable to the Secretary of State. Attach all the documents and you can file in-person or mail them to the following address: Minnesota Secretary of State – Business Services Retirement Systems of Minnesota Building 60 Empire Drive, Suite 100 St Paul, MN 55103
After Forming Minnesota Foreign LLC
Here are added things you need to accomplish after forming your Minnesota Foreign LLC
- Obtain Business Licenses. Find the business licenses you’ll need using the Business License Search.
- File LLC annual reports and Business Privilege Tax.
- Pay State Taxes like sales tax; you’ll need an EIN for your LLC.
It is convenient plus easy to file for the foreign LLC if you are doing it online. The steps are very easy and that’s why it’s possible to go along with the steps and form the foreign LLC in Minnesota.
How Much Does It Cost to Register a Foreign LLC in Minnesota
To register as a foreign LLC in Minnesota, you can file through mail by paying $185 or onlline with a filing fee of $205 to the Minnesota Secretary of State.
Starting a business entity can be daunting enough for new entrepreneurs, let alone having to navigate the legal landscape of registering a foreign LLC in Minnesota. One of the most commonly asked questions among those seeking to establish a foreign LLC in Minnesota is the cost associated with the process. Before answering that question, it is crucial to understand what a foreign LLC is.
A foreign LLC refers to a limited liability company organized outside Minnesota but chooses to operate within the state. As such, they have to file a Certificate of Authority with the Secretary of State’s office to legally conduct business. Registering a foreign LLC in Minnesota is necessary to protect the business’ operations and assets, but it comes at a cost.
The registration fee associated with foreign LLC in Minnesota registration varies depending on numerous factors, including the type of business and the nature of their activities. Additionally, out-of-state LLCs must also file annual renewals with the state of Minnesota to maintain compliance with state regulation.
Most foreign LLCs operating in Minnesota have to file annual renewals by the end of December each year. The renewal fee will depend on whether you choose to file a paper renewal form or file online using the online portal available through the Secretary of State’s website.
That being said, the cost of registering a foreign LLC in Minnesota should not deter entrepreneurs from setting up shop in the state. It is crucial to consider the several benefits that come with running a business in Minnesota, including a business-friendly environment, world-class infrastructure, and a robust network of angel investors and venture capital firms.
The Minnesota Secretary of State’s office has made it easy for businesses to register by offering an online portal that makes the registration process faster and more convenient for aspiring entrepreneurs looking to set up foreign LLCs in the state. They can also seek the services of professional business formation services, like Incfile, that can help streamline the registration process for a competitive fee.
A foreign LLC’s registration cost can impact the small business owner’s bottom line, but savviness can minimize the associated expenses. Business formation companies offer registration services at a reasonable price and can advise on taxation matters and lengthen the registration period, helping minimize costs over the long term.
In conclusion, cost remains one of the most crucial considerations when it comes to establishing a foreign LLC in Minnesota. This should not, however, blow away aspiring entrepreneurs; there are professional services, online platforms, and technical support available to make the registration process more accessible and convenient and less expensive. Entrepreneurs should weigh out the benefits of running a business in Minnesota, take advantage of the numerous resources available, and take the necessary steps to make their business entity legal if their long term goals align with those of the companies registered in the state.
If your LLC is formed under the laws of another state, it is referred to as a foreign LLC in Minnesota.
Businesses incorporated outside of the state where they operate must have “foreign qualifications” issued in the other states.
A domestic LLC is a company registered in Minnesota as an LLC. The entity type that has a physical presence in another state is a foreign LLC.
Starting a foreign LLC in Minnesota does not require a lot of documentation or tasks. However, it is always good to seek help from a professional when it comes to running your business. Get a professional registered agent and form your foreign LLC anywhere without a hassle.