Are you a ‘one man band’ startup? Single Member LLC in Minnesota: what it is, how to do it and the perils

by Paul Godfread

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Single Member LLC in MinnesotaBecause 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:

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