Alert: Annual Business Renewals and the Minnesota Business Snapshot

Fall 2016 Firm Newsletter

This is a reminder that annual renewals for all Minnesota limited liability companies, limited liability partnerships, limited partnerships, for-profit and non-profit corporations, cooperatives, assumed name certificates, and foreign business registrations must be filed with the Minnesota Secretary of State no later than December 31, 2016. Failure to timely renew can lead to confusion or delay in certain business transactions, additional costs, administrative dissolution or termination, and even the loss of entity name.

Businesses filing their annual renewals online this year will, for the first time, be presented with a brief “Business Survey” requesting certain employee, ownership, operational, and financial data. Please note that this survey is not part of the mandatory renewal process, and participation is purely voluntary. In deciding whether to provide information requested by the survey, businesses should be aware that all responses are public under state law and that the Secretary of State’s Office plans to package and sell the data beginning in early 2017.

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