Are you a ‘one man band’ startup? Single Member LLC in Minnesota: what it is, how to do it and the perils
Because many tech startup ventures-and the applications/products created-often begin with one person, or perhaps remain indefinitely owned by a single individual, LLC’s remain popular amongst early stage companies, Internet-based “lifestyle”, businesses or for-hire technicians.
According to Minnesota Statute , LLC’s can be owned and operated by a single natural person. Here are the basics surrounding the single member LLC in Minnesota: