The average legal costs of forming a corporation, partnership, or limited liability company and preparing company internal records and public filings is approximately $1,000. Fees may vary with the complexity of your business arrangement.
You should consult with both an attorney and an accountant before forming your business to determine what type of business entity best meets your legal and tax needs. We can also assist you with contacting the State of Minnesota to determine if you will need specific licenses to conduct your business.
The Department of Employment and Economic Development (DEED) provides information on starting your own business in the State of Minnesota. You can obtain a free copy of the booklet “Starting a Business in Minnesota” at DEED’s website, which provides valuable answers to commonly asked questions. Additionally, it is important to consult with experienced business attorneys who can assist you with getting the process underway.