In this video, you get answers to these questions:
For my new business, should I use my home address, a PO box or something else? That’s the question I’m going to answer today. I’m Aaron Hall. You can learn more about me at aaronhall.com and please see the disclaimer below.
When business owners are looking at starting a company, maybe it’s an LLC, maybe it’s a sole proprietorship or an S-corp, they often wonder which address should I use? Generally speaking, business owners use their home address and that’s not a problem. Sometimes though, they think, well, I’d like some privacy. Can I use a PO box? In Minnesota that’s prohibited. You need to have a physical address where somebody is personally available to receive a lawsuit if you get served. That’s essentially what the Minnesota statute says. A PO box doesn’t work in Minnesota for your legal address for registration. Of course, you can have a PO box in addition to that, but that often defeat, that’s often undermined by the fact that you have a registration with the Secretary of State publicly available with a physical address.
You might say, “Well, what if I don’t want to use my home address? And I don’t want to pay them money to lease an office? Is there any other option?” The answer is yes, they’re called registered agent services. Typically they’re between 100 and $500 per year and it is a place where there is an assistant of some sort able to receive lawsuits and we’ll forward that on to you. There are some, you can read in the description below some of the different companies. You can click on them to learn more about their pricing, but that is an option that is available and quite common when you want to protect some anonymity, you want to keep your home residence private or for some other reason you want an address that is different from your home address.
For example, maybe you want an address in a downtown city area instead of a suburb where your home is. You are entirely permitted to use those addresses. The key is it has to be a physical address where somebody is available to receive a lawsuit on your behalf should you be served a lawsuit in the future. To learn more, feel free to check out my videos or visit aaronhall.com.
To learn more visit my website at aaronhall.com