Minnesota Incorporation Services
To start a corporation in Minnesota, you must file Articles of Incorporation with the Secretary of State’s Business Services. You can file the document online, by mail or in person. The Articles of Incorporation cost a minimum of $135 to file. Once filed with the state, this document formally creates your Minnesota corporation. However, to actually ready the corporation to do business, you must complete several additional steps.
Starting a Minnesota Corporation Guide:
Minnesota Corporation Filing Options
Skip the state fees! Get a Minnesota corporation and the best of our services today. Includes EIN, hassle-free maintenance, business address & mail forwarding, Privacy by Default®, local Corporate Guide® service, and everything you need to operate at full capacity.
Do It Yourself
Sign up for a free account and use our online tools to start your Minnesota corporation today. Includes Minnesota incorporation and maintenance walkthrough and company document creation. All for free.
Pay in Full
Includes Minnesota corporation, business address & free mail forwarding, Privacy by Default®, lifetime support from local Corporate Guides® and a year of registered agent service.
Minnesota Articles of Incorporation Requirements
To form a Minnesota corporation, you must complete and file the Articles of Incorporation with Business Services. See the document below and click on any number to see what information is required in the corresponding section.
Your name must include “Incorporated,” “Corporation,” “Limited,” “Company” or an abbreviation for one of these words. Note that you can’t use “and Company” or “& Company” (So no “Dave’s Bait Shop & Co”). Also, professional corporations have their own naming requirements and must include “Professional Corporation,” “Professional Service Corporation,” “Service Corporation,” “Professional Association,” “Chartered,” “Limited” or an abbreviation.
Your registered office is the Minnesota street address where the state will send legal notifications. So, choosing an address that will remain consistent and where someone will be regularly available is vital. Tip: When you hire Northwest as your registered agent, our address will be your registered office, and we’ll take care of all your registered agent needs.
List the number of shares you wish to create. You must list at least one. Tip: You can distribute some or all of these shares at your organizational meeting.
Your incorporator is the person you authorize to submit your Articles of Incorporation. Your incorporator doesn’t have to be a director or anyone in your corporation but must include their name, address and signature. Tip: We’ll be you incorporator when you hire Northwest to form your Minnesota corporation.
Minnesota requires you to include an email address in your Articles of Incorporation for official notices. While you can tick a box that mostly excludes your email from requests for bulk data, if you have privacy concerns, you may not want to use a personal email. Tip: At Northwest, we allow our clients to use our email address here.
Again, this information will become part of the public record. Tip: Avoid ending up on loads of telemarketer lists—when you hire Northwest, you can list our phone number here.
How much does it cost to start a Minnesota corporation?
Minnesota’s Business Services charges $135 for mailed filings and $155 for online or in-person filings.
Hire Northwest to form your Minnesota corporation and your total, out-the-door cost is $380. This includes state filing fees, a full year of registered agent service and all the forms you need to open a corporate bank account.
How long does it take to start a Minnesota corporation?
Filing online or in person costs $20 more, but it only takes 2 days. If you’d rather save $20, you can mail your filing, and it will take around 4-7 days.
If you hire Northwest to start your corporation, we file online and typically have your Minnesota corporation formed within 48 hours.
Does a Minnesota corporation need a registered office?
Yes, your Minnesota corporation is required to list a registered office in your Articles of Incorporation. The office must be a Minnesota street address. You could list your own personal address or office, but note that your Articles are part of the permanent public record—meaning your address would be available to data sellers, solicitors, and general busybodies. Also, someone would need to be regularly available at the address or else you risk missing critical legal notifications.
To maintain your privacy and peace of mind, consider hiring a registered agent service like Northwest. We accept, scan and send you your legal documents in real time at our Minnesota address, so you can stay on top of your business wherever you are. We also have free tools to help you maintain your Minnesota corporation, and we’ll send you free compliance reminders so you don’t forget key business filings. For a long list of all our benefits, check out our Minnesota registered agent page.
Create Bylaws for Your Minnesota Corporation
Do I need bylaws?
Absolutely. While Minnesota Statute §302A.181 notes that bylaws aren’t required by law, it would be unusual not to have bylaws, particularly as they serve such important functions. The people you work with—both within and outside of your Minnesota corporation—will look to your bylaws for answers to key questions about how your business operates.
Why are corporate bylaws important?
Bylaws define how your corporation works internally. They say who’s on the board of directors, how long they get to stay there, how they can be replaced, and what their powers and duties are. Bylaws say how many board members are needed to vote on resolutions. Bylaws also spell out the details of your corporation’s stock, such as stock classes and voting shares of stock. Bylaws list the officers of your corporation and who is authorized to act on behalf of the corporation in different situations. Basically, your bylaws define who has power over what—making your bylaws the single most important internal document of your Minnesota corporation. Because these internal details are so significant, people outside your business will need this information as well. When you go to open a bank account, take on a partner or sit down with an investor, they will almost certainly ask to see your bylaws.
How do I begin writing bylaws?
Creating bylaws can be overwhelming—where do you begin? Northwest can help here. When you hire us to form your Minnesota corporation, we give you free corporate bylaws. We know how important it is for your business to start out on the right foot. That’s why we’ve spent years refining these and all our free forms—bylaws, resolutions, record-keeping templates and more. Take a look at the free corporate forms we provide to help corporations form and maintain their businesses.
Get an EIN for Your Minnesota Corporation
Do I have to get a tax ID number (EIN)?
Absolutely. The IRS requires corporations to obtain an EIN. This tax ID is used to identify your business on federal filings. You can apply for an EIN directly from the IRS for no fee. Or, save yourself the headache of one more form and hire Northwest to get your EIN for you. Just add on EIN service during checkout when you sign up for our Minnesota incorporation services.
Open a Bank Account for Your Minnesota Corporation
To open a corporate bank account, you will need to bring the following to the bank:
- A copy of the Minnesota corporation’s Articles of Incorporation
- The Minnesota corporation’s bylaws
- The Minnesota corporation’s EIN
If your bylaws don’t specifically assign the power to open a bank account, you may also want to bring a corporate resolution to open a bank account that states that the person going to the bank is authorized by the business to open the account in the name of the corporation.
We recommend calling your bank ahead of time before going in and asking what their requirements are. Most banks don’t open corporate accounts nearly as frequently as personal accounts, so some bankers may be unfamiliar with their own bank’s requirements. As frustrating as that may be for you, calling ahead will help save you from being super annoyed when you walk into the bank.
Obtain a Business License
Does a Minnesota corporation need a business license?
Minnesota doesn’t have a general, statewide business license. However, your business may be subject to local licensing requirements. Typically, cities in Minnesota do the bulk of licensing (to give you an idea, Minneapolis’s list of city licenses is 26 pages long!), but county licenses are required for some activities. For example, auctioneers in Minnesota are licensed at the county level, so to conduct business in Minneapolis, you’d need to apply for an auctioneer license from Hennepin County.
File Minnesota Corporation Reports
What is a Minnesota Annual Renewal?
Your Minnesota Annual Renewal is a report you submit each year to confirm your contact and ownership information. You can update your ownership information on the form, but if you need to change your registered agent or office, you’ll have to submit a Change of Registered Office/Agent form and pay the $35 fee. If you fail to file your renewal by the end of the year, your corporation will be dissolved or revoked on January 1st.
Afraid you’ll forget to file? Northwest will help you remember. When you hire us as your registered agent, we’ll send you reminder notifications to help ensure you stay in compliance. Or, let us take this annoying task off your hands completely. For just $100 plus state fees, you can hire us to file your Annual Renewal for you.
How much does a corporation in Minnesota cost each year?
The state itself doesn’t have any annual fees. You are, however, required to file a free Minnesota Annual Renewal.
Pay Corporate Taxes
What are the taxes for a Minnesota corporation?
Minnesota has a corporate franchise tax. Under this tax, corporations pay the greater of either 9.8% of net income or an Alternative Minimum Tax (a tax similar to the federal AMT). Minnesota’s AMT rate is 5.8% but covers a larger tax base than the income tax.
There’s also a possibility your business may have to pay the Minnesota Department of Revenue’s “minimum fee.” If the combined value of your Minnesota property, payroll and sales is pretty high (approximately $990K+), you’ll pay the fee, which starts at $200. C corps, S corps and partnerships are all subject to this fee.
Minnesota’s sales tax rate is 6.875%. Because of additional city, county and specialty sales taxes, however, the average total sales tax in Minnesota is 7.245%. To get a better idea of actual sales tax rates customers pay at the counter, below are the rates for the 5 largest cities in Minnesota:
St. Paul: 7.875%