Each state has different requirements for forming a corporation. Whether you are starting a business or incorporating a business already in existence, you’ll want to understand state requirements for Minnesota incorporation.
The name shall contain the word "Corporation," "Incorporated," "Limited" or the abbreviation thereof, or it shall contain the word "Company" or the abbreviation "Co.," but only if it is not immediately preceded by the word "and" or the character "&." The name must not be deceptively similar to the name of any other domestic corporation, limited partnership, limited liability partnership, limited liability company, foreign corporation, foreign limited partnership, foreign limited liability partnership or foreign limited liability company authorized to do business in the state, unless: (1) the other business is about to change its name, cease business, dissolve or withdraw, and (2) written consent from that business is obtained.
The following are Minnesota’s requirements for directors of corporations:
The document required to form a corporation in Minnesota is called the Articles of Incorporation. The information required in the formation document varies by state. Minnesota's requirements include:
Minnesota allows professionals, such as accountants, attorneys and physicians, to form a professional corporation (PC).
After forming a corporation, you must undertake certain steps on an ongoing basis to keep your business in compliance. These steps are also important in preserving the limited liability a corporation provides its owners. This guide outlines the ongoing requirements for Minnesota corporations.
Minnesota corporations should keep complete corporate records at the principal office of the corporation.
The following are taxation requirements and ongoing fees for Minnesota corporations:
Business licenses and/or permits are required for most businesses. The BizFilings Business License Application Package can help you stay on top of these requirements.
Minnesota recognizes the federal S corporation election and does not require a state-level S corporation election.
The state in which you form your company can provide certain benefits.
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