What Is CFS Annual Renewal?

To have an S corporation, shareholders must consent in writing and file Form 2553 with the IRS.
Minnesota Statutes Chapter 302A corporations must file Annual Renewals yearly to remain active.
If you fail to file the annual renewal in Minnesota, your entity will be dissolved. You can retroactively reinstate it by filing a current renewal, paying a fee, if the name is available.

In Minnesota, handymen making over $15,000 yearly working on existing structures need a Residential Remodeler License.
Residential building contractors and remodelers contracting to improve 1-4 family dwellings in Minnesota need a license.

The Minnesota LLC Annual Renewal form is due December 31st. Fees range from $115-$155 depending on the type of business. LLCs must renew yearly in Minnesota to remain active.
It costs $135 to register a Minnesota LLC via mail and $155 if done online or in person.
To maintain an LLC in Minnesota you do not need to pay an annual fee. However, state income tax at 5.35% to 9.85%, sales tax at 6.875% and federal taxes are levied. LLCs are required to file an Annual Renewal each year with the Secretary of State.

In Minnesota, reinstating your business needs preparation. Determine the Reason for Suspension or Dissolution and file required paperwork.
If your Minnesota LLC is taxed as a corporation, it will need to pay some kind of income taxes or fees to the state.

Minnesota driver’s licenses must renew every 4 years on your birthday. If expired 1-5 years, you must pass knowledge and vision tests for a new license.

To form an LLC, search your name, select your Registered Agent, and file Articles of Organization. Approval for an LLC can take 1-10 business days after your information is received.
In addition to formation costs, LLCs have expenses like registered agent services, websites, insurance, etc.

Contact the Minnesota Secretary of State by phone or email with questions.