How to Create a Series LLC in Minnesota

What Is a Series LLC?

A Series LLC is a unique form of a limited liability company that allows for the creation of multiple, distinct series or cells within a single LLC. Each series operates independently, with its own assets, liabilities, and members. This structure allows for the segregation of assets and liabilities among the series, providing liability protection for each series from the debts and obligations of the others.

Does Minnesota Allow Series LLCs?

As of the current date, Minnesota does not authorize the formation of Series LLCs under its state laws. The Minnesota Revised Uniform Limited Liability Company Act does not include provisions for Series LLCs, which means that businesses seeking to form a Series LLC must consider other jurisdictions that permit such structures.

Minnesota Series LLC Filing Fees and Costs

Since Series LLCs are not recognized in Minnesota, there are no specific filing fees or costs associated with them. Businesses should refer to the fee schedules of states that permit Series LLCs for accurate information.

Minnesota Franchise Tax and Series LLCs

Minnesota does not impose a franchise tax on Series LLCs, as they are not recognized under state law. Businesses should consult the tax regulations of states where Series LLCs are allowed for relevant tax obligations.

Additional Resources

• Minnesota Secretary of State
• Minnesota Business Services
• Minnesota Statutes
• Minnesota Department of Revenue
• Contact: Minnesota Secretary of State, Phone: (651) 296-2803, Email: business.services@state.mn.us

This article provides general information about Minnesota LLC formation requirements under the Minnesota Revised Uniform Limited Liability Company Act. It is not intended as legal advice. Persons forming an LLC should consult with a private attorney regarding their specific circumstances.