How to Register a Business in Minnesota?
In Minnesota, registering your business offers several perks. It minimizes your personal liability, makes you look more professional to investors, and provides tax benefits. However, a few key things must be considered before starting your business.
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The state of Minnesota offers a number of business registration options. These options are based on how the company is structured and the type of products or services offered by the firm. In addition to registering the business name, owners must secure all required local and state licensing. In most cases, the registration process requires a small fee and can be completed online. Keep reading this guide in order to have a better understanding of How to Register a Business in Minnesota.
Choose a Minnesota Business Name
The first step in the process of registering a business in Minnesota is to choose a name that is unique and meets the naming regulations of the state. The name should be easy to pronounce and represent the business’s products or services. It should also be free from trademarks and copyrights and not be confusingly similar to an existing business. After choosing a name, it is a good idea to conduct a search for federal trademarks before filing any paperwork with the Secretary of State.
Determine Your Minnesota Business Structure
Before registering your business, you need to determine how your company will be structured. Choosing the right structure will affect your tax obligations, as well as your potential for growth. Consider consulting an attorney, accountant, or a small business technical assistance adviser before making a final decision. Once you’ve settled on a structure, you can begin registration by filing forms with the state.
You’ll also need to register your business with the city and county in which you plan to operate. This will allow you to obtain licenses and permits for your business. These licenses will vary by industry and locale, so it’s important to research the requirements in your area.
Find a Registered Agent
Additionally, you’ll need to choose a registered agent for your business. This person will be responsible for receiving legal notices and other correspondence from the state of Minnesota. Minnesota law requires that the agent have a physical address in the state and be available during regular business hours.
Use the Minnesota Business and Liens Website
If you want to register a new business, you can do so online using the State of Minnesota’s Business and Liens website. You’ll need to create an account, which will ask questions about your non-profit and professional status. You’ll also be asked to identify your preferred business structure, such as a corporation, limited liability company (LLC), or sole proprietorship. You can then proceed to the filings page and submit your business registration application.
