50 State Series: How to move your LLC or corporation out of Minnesota and keep your EIN

Minnesota has become one of the clearest examples of a high-tax state moving further away from regional tax competitiveness. In this presentation, Chad D. Cummings, CPA, Esq., explains why Minnesota ranks 44th on the Tax Foundation’s 2026 State Tax Competitiveness Index, including its 9.85 percent top individual income tax rate, second-highest corporate income tax rate in the country, alternative minimum taxes on individuals and corporations, capital gains surtax, estate tax, split-roll property tax system, and proposed wealth tax on non-real assets exceeding $10 million. The discussion also compares Minnesota to lower-tax neighboring states and explains the practical cost to pass-through business owners, including how $1 million of annual pass-through income can produce $98,500 in Minnesota state income tax, compared to zero in Florida and zero in Texas. The presentation also explains how business redomestication can transfer a company’s legal domicile to Florida or Texas without dissolving the company, forming a new entity, losing its EIN, disrupting contracts, or sacrificing business credit history when handled with proper legal and tax formalities. Learn more: https://www.cummings.law/redomestication/