Do you have to renew your LLC Every year in Minnesota?

If you are a Minnesota resident who owns a Limited Liability Company (LLC), you might be asking whether you need to renew it annually. The short answer is no, but you still need to take significant actions to maintain your LLC’s good status with the state.

Minnesota LLC Renewal Requirements

Unlike several other jurisdictions, Minnesota does not require LLCs to renew their registration on an annual basis. To keep your LLC in good standing with the state, you must submit an Annual Renewal fee each year. Online filing is available through the Minnesota Secretary of State’s website for a $45 cost.

In Minnesota, you can update your company name by submitting a form called an Amendment to Articles of Organization to the Secretary of State’s office. This form has a $50 charge and can also be submitted online.

You must submit a reinstatement request if the state has administratively dissolved your LLC in order to restore it to good standing. In order to do this, you must submit a Reinstatement Application to the Secretary of State and pay a $135 charge. You must also submit any unpaid Annual Renewal fees and other necessary paperwork.

In Minnesota, renewing your LLC costs $45 a year. There can be additional costs if you need to reinstate your LLC or renew your business name.

The Minnesota Secretary of State’s office provides CFS Annual Renewal, a service that enables LLCs to renew their registration and submit their annual renewal fee online. When compared to filing by mail or in person, this service is free and can save you time and effort.

In conclusion, although though Minnesota LLCs are exempt from yearly registration renewal requirements, they must still pay an annual renewal fee to keep their status with the state in good standing. Additional costs can be incurred if you need to restore your LLC or renew your business name. You may streamline the procedure and save time by using the CFS Annual Renewal service.