Form with which a corporation may resolve to alter its corporate status top that of a subchapter (S) corporation.
S Corp Status For Llc In Minnesota
State:
Multi-State
Control #:
US-0046-CR
Format:
Word;
Rich Text
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How to form an LLC in Minnesota in 6 steps Choose your business name. Before you start the business registration process, you need a name. Appoint a registered office. File articles of organization. Create an operating agreement. Obtain an EIN and open a business bank account. Register for state taxes and business licenses.
S Corporation Tax applies to companies or organizations that file an annual federal income tax return as an S Corporation and meets at least one of the following: Located in Minnesota. Have a business presence in Minnesota.
Limited Liability Protection: One of the main reasons businesses choose the LLC structure is to protect the personal assets of the owners. In the event of a lawsuit or bankruptcy, the personal assets of members are generally protected.
The Annual Comprehensive Financial Report (ACFR) includes the financial statements for the state, and the disclosures necessary to accurately present the financial condition of all state funds and the state component units for the previous fiscal year.
The State of Minnesota requires you to file an annual renewal for your LLC with the Minnesota Secretary of State (SOS). You can file your renewal online through the Business Filings Online page of the SOS website. You can search by your business name or file number.
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Before doing so, complete federal Form 1120-S and supporting schedules. Use this form to register a Minnesota Limited Liability Company.S corporations file Minnesota Form M8 Corporation Return, with the state, along with copies of federal Form 1120S and supporting forms and schedules. Step 1: Create an online account with us and login. Here you can find more information about creating an online account. Form 8832 allows you to reclassify your LLC as a corporation and file for S Corp status simultaneously. To set up an LLC in Minnesota, you fill out an Articles of Organization form and submit it to the Secretary of State in St. Paul. If you've already formed an LLC or corporation, file Form 2553 with the Internal Revenue Service (IRS) to designate S corp taxation status. A corporation or other entity eligible to be treated as a corporation files this form to make an election under section 1362(a) to be an S corporation. You must fill out and file the Minnesota Limited Liability Company Articles of Organization form and pay the associated filing fee.