The Minnesota Secretary of State charges $135 to file the Articles of Organization by mail and $155 to file online or in-person. You can file an LLC name reservation for $50 if filed by mail and $55 if filed online or in-person. Every year you will also have to file an annual renewal, which is either $25 if you file it by mail, and $45 if filled out online or in person.
Considerations When Forming an LLC
There are several cost factors to take into consideration when forming an LLC. Filing your Articles of Organization is likely to be the biggest expense. If you want to reserve your business name, then this is an extra $50-55.
No Lawyer? No Problem!
You don’t need any Lawyer to set up an LLC. Although completing all of the forms and filing them yourself can be complicated.
Additional Considerations
An Operating Agreement is useful to have if disputes arise within the LLC or just to outline clearly the rules of the LLC. In Minnesota, an Operating Agreement is not required for the creation of an LLC.
Later you also need an Employer Identification Number (EIN) from the IRS. While getting an EIN is free, if you do it yourself, there are costs associated with the paperwork you need to file. An LLC setting up cost is an essential consideration for budget and expenses.
Varying Costs Across States
The cost to start an LLC can vary depending on filing fees ranging from as low as $40 to over $500 per state. It excludes additional expenses such as registered agent fees or legal help.