Form a Partnership in Minnesota
Everything you need to know about forming a Partnership in Minnesota. Filing fees, requirements, timeline, and step-by-step guidance.
How to File
Choose Partnership Name
Select a name that complies with Minnesota naming requirements and is distinguishable from existing entities.
1-2 hours
Draft Partnership Agreement
Create a comprehensive agreement outlining partner roles, profit sharing, and management structure.
2-4 hours
Obtain EIN from IRS
Apply for federal Employer Identification Number online through the IRS website for tax purposes.
15 minutes
Register for State Tax ID
Obtain Minnesota tax identification number through the Minnesota Department of Revenue if required.
30 minutes
What's Next After Filing
Once your Partnership is officially formed, you'll want to complete these important steps:
- •Open Business Bank Account — Establish separate business banking with partnership agreement and EIN documentation.
- •Obtain Business Licenses — Apply for any required federal, state, or local licenses specific to your business activities.
- •Consider Assumed Name Filing — File Certificate of Assumed Name if operating under a name different from partners' legal names.
Advantages
- ✓No state filing fees or annual reports required
- ✓Pass-through taxation avoids double taxation
- ✓Simple formation process with minimal paperwork
- ✓Flexible management structure and profit distribution
Considerations
- •Unlimited personal liability for all partners
- •Joint and several liability for partnership debts
- •Partnership dissolves when partner leaves or dies
Annual Obligations
What OpenChamber Does
We don't file paperwork for you — we guide you through doing it yourself, which saves money and helps you understand your business from day one.
Personalized Checklist
Every task you need, organized by priority and tailored to Minnesota.
Vetted Professionals
When you need help, we connect you with professionals we trust.
Progress Tracking
Never lose track of where you are or what's next.
Track Your Progress
Get a personalized checklist for forming your Partnership in Minnesota — and everything that comes after.
Get Your Free Checklist