Minnesota Business Law | When Do You Need To Use An Assumed Business Name?

Minnesota Contingent BeneficiariesIf you’re operating a new Minnesota business – be it a sole proprietorship, LLC, or S. Corporation, and you want to give the company a name other than your own or want to use a different name for an existing registered LLC or S. corporation, you’ll need to create an assumed business name.

To find out more about the process of creating and registering an assumed business name in Minnesota, keep reading.

What is an assumed business name?

Assumed business names are also referred to as “Doing Business As” names, DBA names, fictitious names or trade names. Each refers to the idea that your business name differs from either your personal name or the officially registered name of your company.

Why might you need an assumed business name?

When you first start a company it’s important to understand that the default name of the business will be the same as the person who owns the business. To operate under another name will require choosing and registering an assumed name with the state. A good example of this would be if Jane Doe decides to open up a coffee shop. Jane decides she wants the business to have its own name, rather than her own, and calls it “Doe’s Cup of Joe.” This name is deemed an assumed name and Jane will need to register with the Office of the Minnesota Secretary of State.

Who needs to register an assumed business name?

There are two cases where assumed business names need to be registered with state authorities. First, in the case of sole proprietorships or partnerships where you choose to conduct business under a name other than your own, you will need to register an assumed name. Second, if your business is already set up under one name but you would like to conduct business under a new name, then you’ll have to register your assumed business name.

Minnesota Business Law | How to register an assumed business name

If you want to use an assumed business name in Minnesota you will need to first file a Certificate of Assumed Name with the Minnesota Secretary of State. The filing fees cost between $30 and $50, depending on whether you file the paperwork by mail or in-person. Minnesota Statutes Section 333.01 says that after filing the proper paperwork, you are required to publish the Certificate of Assumed Name with a legal newspaper for two consecutive issues in the area where your business is located. Once the name is officially registered, you’ll need to renew it every year, though thankfully there is no charge for the renewal unless the name has expired.

It’s good to know that with the right help, establishing a Minnesota small business does not have to be a scary proposition. An experienced Minnesota small business attorney can help walk you through the process of setting up your new company and ensure it offers the maximum benefits for your individual situation. For more information, contact Joseph M. Flanders of Flanders Law Firm at (612) 424-0398.
Source: “Assumed Names/Sole Proprietorships,” published at SOS.State.MN.US.

Flanders Law Firm LLC

The firm helps businesses with formation - be it LLCs, S. Corporations, Partnerships, Sole Proprieteships

Contact the law firm at:612-424-0398

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