I puchased all the shares of an existing corporation that does business in Minnesota. Do I need to register for a UI Employer Account?
It depends on your situation. If the Federal Employer Identification Number (FEIN) has not changed it is not necessary to register for a new UI Employer Account transfer of corporate stock or stock transfer occurs when the ownership of the shares of corporate stock changes without the formation of a new legal entity or issuance of a new FEIN. The corporation itself remains intact and operational, however, you must update the ownership information section of the UI account to reflect ownership changes. It will be necessary to obtain the User ID and Password from the former owners to allow you to access the Update Owner/Officer Information process.
