Minnesota's leading immigrant-owned accounting firm · Serving MN & WI since 2006
Business Formation & Entity Setup.
Starting or restructuring a business means a stack of registrations and filings before you can open your doors, and getting them wrong or out of order can slow everything else down, including licensing and financing. HAR Financial Services handles the full setup process for clients, from choosing the right entity type through getting all the required state and federal accounts in place.
1. Entity Selection Consulting
Choosing the right business structure affects taxes, liability, and how easily you can raise financing or bring on partners later. We walk clients through the tradeoffs between:
Sole Proprietorship
Partnership (general or limited)
Limited Liability Company (LLC)
S-Corporation election
C-Corporation
We factor in the client's industry (including DHS licensing requirements where relevant), growth plans, and tax situation before making a recommendation.
2. Entity Formation & Secretary of State Filing
Preparing and filing Articles of Organization or Articles of Incorporation with the Minnesota Secretary of State
Registered agent setup
Drafting operating agreements, bylaws, or partnership agreements
Ongoing state annual renewal filings so the entity stays in good standing
3. Entity Conversion & Restructuring
For businesses that need to change structure as they grow, such as converting a sole proprietorship to an LLC or making an S-Corp election for tax purposes, we handle:
Evaluating whether a conversion makes sense given the client's current tax and liability situation
Preparing and filing the required state paperwork for the conversion
Coordinating the federal tax election (e.g., Form 2553 for S-Corp status)
Updating registrations, accounts, and payroll systems to reflect the new entity
4. Federal & State ID Setup
Federal Employer Identification Number (EIN) application with the IRS
Minnesota state tax ID registration with the Department of Revenue (sales tax, withholding tax, as applicable)
Minnesota Unemployment Insurance employer account setup with DEED
Guidance on any additional state or local registrations specific to the client's industry
5. Additional Setup Support
Business bank account setup guidance and documentation preparation
Initial bookkeeping system setup tied to the new entity
Coordination with licensing requirements for DHS-regulated businesses so entity paperwork lines up with what DHS will require at application time. Learn more about DHS Support →
General guidance on required local business licenses and permits
Launch your business on a solid foundation.
Getting your business structure and registrations right from day one saves headaches later, especially if you're also navigating DHS licensing. We handle the full setup so you can focus on getting your business running.
