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Forming an LLC in Michigan
Forming an LLC in Michigan is not that hard, but an incorporation company can save you a lot of time by dealing with the paperwork for you. Regardless of whether you do the work yourself or pay an incorporation company do to it, it is always sensible to let an attorney check the Operating Agreement to prevent future problems with the IRS.
Forming an LLC in Michigan in 5 easy steps
- The first thing to do is find a suitable name for your company. The name cannot be used by any other LLC already, and you must of course make sure that it will not violate any trademarks. The name must contain an LLC identifier, such as “Limited Liability Company” or “L.L.C.”. The name of an LLC is not allowed to contain the terms “corporation”, “corp.”, “incorporated” or “inc.”.
- The second thing to do is to file the Articles of Organization at the Michigan State filing office.
- The third step involves holding an organizational meeting where an Operating Agreement is formally adopted.
- The fourth step is to acquire a Federal Employer Identification Number (FEIN) and open a bank account for the LLC.
- The fifth step is to get local business licenses for each city or county in which the LLC will be active.
Important facts to take into consideration before forming an LLC in Michigan
- The minimum Michigan LLC state filing fee is $150.00. (For 15 business days.)
- The annual report must be handed in February 15th each year. In Michigan, the annual report fee is no more than $25.
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