Minnesota corporations must file an annual corporate registration with the Secretary of State which will provide corporations with a reminder-to-file notice. Corporation Franchise Tax applies to companies that file annual federal income tax returns as C corporations and meet at least one of the following:This guide will help you file formation documents, get tax identification numbers, and set up your company records. Before doing so, complete federal Form 1120-S and supporting schedules. Use this form to file your annual renewal once every calendar year. There is no fee for filing the annual renewal if the entity is active and in good standing. Corporations typically hold several required formal meetings each year. The exact requirements vary depending on state laws and your corporation's bylaws. Any business may be transacted at any meeting without mention of such business in the notice. What Is Due Diligence?