Annual Minutes for Minnesota Corporations and Minnesota LLCs

By: Skjold-Barthel

Historically, Minnesota small business clients have looked to their accountants to help deal with annual tax filings. Often, the rhythm of tax filings corresponded with client questions regarding maintenance of their corporate records and filings for good standing. In Minnesota, this tradition was interrupted when the Minnesota Department of Commerce no longer required that annual business registrations be completed along with Minnesota Income Tax Returns. While some practitioners have taken it upon themselves to continue performing this task, many have left this responsibility to their clients and given the difficulties of implementing systems to efficiently handle such matters.

The Minneapolis, Minnesota business attorneys of Skjold ▪ Barthel have developed its Annual Update Service to assist its corporate clients in making the necessary filings with the Minnesota Secretary of State to remain in good standing, as well as to generate annual minutes to preserve liability shields and avoid corporate veil piercing claims and to memorialize the business activities of the company. Because we have achieved a balance in systematizing this process while providing individual attention to each client we are able to provide this service for a low flat rate for the project. For companies under common ownership and control, we will discuss alternate rates so as to encourage participation in the process without becoming cost prohibitive.