Business Nerd News-Minnesota's New Businesses Still Prefer LLC over INC (3-to-1)
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By
MKT Law, PLC
Whoo Hoo! I just got done reading the latest economic studies covering
the first quarter for Minnesota from St. Cloud State University and can’t
wait to share: There were 10,406 new business filings in the metro alone
through April 30, 2014. That’s almost 3/4 of a percent higher than
last year. New businesses are still preferring (no surprise) to file as
limited liability companies (LLC) under Minn. Stat. 322B rather than as
business corporations (Inc.) under Minn. Stat. 302A. In fact, the preference
is at a rate of about 3 to 1 this year so far. Also good news for not-for-profit
formations. There were almost 9% more non-profits formed this year over
2013 at the same time. For more business nerd news, look to my source:
Metropolitan Area and Business Conditions Report–First Quarter 2014 found
here
. p.s. I tried to post some cool graphs to show y’all this visually
but they didn’t work out so well. Alas, the plain text post only.
