Minnesota Domestic Entity Certificate of Good Standing
A Minnesota Certificate of Good Standing for a domestic LLC certifies that a registration for the LLC is filed with the state and is currently active on the record to do business in the state. It may also include the formation date and a statement that the LLC is in good standing.
A Minnesota Certificate of Good Standing issued for a corporation certifies that it has filed Articles of Incorporation with the state and is currently active on the record to do business in the state. It may also include the incorporation date and a statement that the corporation is in good standing.
Minnesota Foreign Entity Certificate of Good Standing
A Minnesota Certificate of Good Standing for a foreign entity registered to do business in Minnesota may include the following information:
- Entity name
- State of organization (home state)
- Statement that the entity is registered to do business in Minnesota
- Statement that the entity is in good standing
- Registration date
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What is a Minnesota Certificate of Good Standing?
A Minnesota Certificate of Good Standing is a document confirming that an entity is active and authorized to do business in the state of Minnesota. The Minnesota Secretary of State’s office is in charge of issuing Minnesota Certificates of Good Standing.
In other states, this document may be called a “certificate of existence”, “certificate of registration”, “certificate of authorization”, and “standing certificate”.
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Why is “good standing” important for your Minnesota business?Being in good standing allows a corporation, LLC, or other statutory entity in Minnesota to maintain the rights and privileges of doing business as that statutory entity. Good standing certificates are required when expanding to other states and may be required for financing, business transactions, and licensing. The consequences of losing good standing can include fines, the inability to file a lawsuit, the inability to do business in other states, and the administrative dissolution of your business.
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When do you need a Minnesota Certificate of Good Standing?A Minnesota Certificate of Good Standing is required when your business expands to another state (otherwise known as a foreign qualification) and needs to register in that state as a foreign corporation or LLC. In addition, lenders, investors, and vendors often require a Certificate of Good Standing before doing business with a company. You may need to submit a Certificate of Good Standing to obtain licensure. You may also need a Certificate of Good Standing for other business transactions, such as a merger or acquisition.
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How do I obtain a Minnesota Certificate of Good Standing?You can order a Minnesota Certificate of Good Standing online today from CT Corporation or contact us for additional information.