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ZenBusiness |
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Visit ZenBusiness |
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Northwest Registered Agent |
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Visit Northwest |
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Harbor Compliance |
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Visit Harbor Compliance |
Some entrepreneurs toil with a business idea for years while others pursue their business plan in short order. No matter how long you’ve mulled over your concept when you’re ready to launch, it’s exciting.
To launch a business in the State of Minnesota, an entrepreneur sets up a business by filing LLC formation paperwork and selecting a registered agent. A registered agent is a point of contact for the company that will receive official documents for the company.
While this process might be new to you, it’s actually fairly simple. To help start-ups get off the ground in The North Star State, here’s a look at how to set up a Minnesota LLC and select a registered agent that best suits your new company.
What is a Minnesota registered agent?
A Minnesota registered agent is a person or company that receives official documents on behalf of the company. This person could receive legal notices, tax documents, or service of process papers that are served during a lawsuit. Given the sensitive nature of the documents received, it’s important that the person or company selected be trustworthy and have the ability to contact the owner immediately.
Read more: What is a registered agent?
How does an owner select a registered agent in Minnesota?
The owner lists the registered agent on the LLC formation paperwork and files it with the secretary of state.
Who can be a registered agent in Minnesota?
In Minnesota, a registered agent can be a resident of the state or a company in good standing that operates in Minnesota. Both the resident and the company must have a physical street address, not a P.O. box., and must be available during regular business hours. An individual serving as a registered agent must be at least 18 years old.
Documents like service of process papers are served during regular business hours, which is the reason for the daytime availability.
Can I be my own registered agent in Minnesota?
Yes. An owner can be their own registered agent, and actually, it’s a fairly common practice. However, the owner may choose a different person or even a company, known as a registered agent service, to fill this role.
Why would a company choose to work with a registered agent service?
An owner can pay a registered agent service to be the company’s registered agent. Since the role is fairly simple to fill yourself, you might wonder why some entrepreneurs opt for a service. Here’s a look at a few benefits of using a registered agent service as opposed to doing the job yourself:
- Availability. Some owners aren’t available during regular business hours. Some owners bounce between multiple businesses, others travel a lot. For some owners, paying a registered agent service is easier since their days are tied up out of the office.
- Peace of mind. A registered agent service provides peace of mind to owners. With the service in charge, the owner knows that documents aren’t missed.
- Privacy. As mentioned, some of the documents that a registered agent receives are confidential. Some owners prefer that these documents be served offsite to maintain a certain level of privacy from prying eyes.
Read more: Best Registered Agent Services
How much does a registered agent service cost in Minnesota?
The cost of a registered agent service will depend on the kind of services you want. For basic services that simply notify the owner when a document comes in, expect to pay about $50 a year. For more advanced features like online portals, file storage, report reminders, and compliance assistance, expect to pay between $100-200 a year.
List of Minnesota registered agent services
There are many registered agent services in Minnesota. The secretary of the state usually maintains a list of options, but here are a few services that are available. These companies not only offer registered agent services but also offer other services that a budding LLC may need:
- ZenBusiness is fairly new to the market, but it’s grown a strong following. Business owners love the affordable rates for a registered agent service, which are as low as $99 per year. The company also offers worry-free compliance to help business owners file the necessary reports on time.
- Northwest Registered Agent is one of the most recognized names in the registered agent business. The company has decades of experience and local offices scattered across the U.S. to serve small businesses like yours. The cost for a registered agent service is comparable to others. Business owners can also take advantage of additional services like report filing.
- Harbor Compliance is a great fit for organizations that register in multiple states and for those who don’t want to pay excessive service fees. With their network and electronic document delivery, they help ensure your business never misses a legal notification.
Minnesota registered agent FAQs
Do I really need a registered agent in Minnesota?
Yes. The state requires all LLCs to list a registered agent on the LLC formation paperwork. The state needs a way to contact the company’s owner, which is why a registered agent must be listed.
Can a company change its registered agent?
Yes. To do so, entrepreneurs can file a Change of Registered Agent form with the Minnesota Secretary of State and pay the fee.
The fee can range from $35 to $70 depending on the type of entity and mode of filing.
A statutory agent is the same as a registered agent. The title varies by state. In Arizona, for example, a company’s point of contact is called a statutory agent. Resident agent and service of process agent are also used in other states.
What’s a commercial registered agent?
A commercial agent is a registered agent service that you pay for. A non-commercial agent is someone that’s not paid to fill the role, like the owner or a friend.