On Lines & Inner Nets

Business Nerd News–Minnesota’s New Businesses Still Prefer LLC over INC (3-to-1)

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.

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