Michigan Corporation Legal Forms

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Commonly Asked Questions about Michigan Corporation Legal Forms

How much does it cost to start an S Corp?

How much does it cost to start an S-Corp? Registering an S-corp requires paying state filing fees which can range from $40 to $500, depending on the state. States also typically require annual fees to maintain a corporations status.

How to form an S Corp in Michigan?

Filing as an S Corp in Michigan Step 1: Choose a Business Name. Step 2: Appoint Directors and a Registered Agent. Step 3: File Articles of Incorporation. Step 4: Create S Corp Bylaws. Step 5: Apply for an Employer Identification Number. Step 6: File Form 2553 for S Corporation Election.

How to establish an S Corp in Michigan?

To form a Michigan S corp, youll need to ensure your company has a Michigan formal business structure (LLC or corporation), and then you can elect S corp tax designation. If youve already formed an LLC or corporation, file Form 2553 with the Internal Revenue Service (IRS) to designate S corp taxation status.

Can I set up an S Corp myself?

Yes, one person can form an S corporation and serve as its sole board member and employee. Note, however, that youll still need to hold annual meetings of the board of directors and take minutes at those meetings, even if youre the only one in attendance.

What is the difference between an LLC and an S Corp in Michigan?

An LLC is a business structure where taxes are passed through to the owners. An S corporation is a business tax election in which an established corporation passes taxable income to shareholders.

Does Michigan require corporate bylaws?

Corporate bylaws are required in Michigan. In other words, bylaws are legally necessary to form a corporation in Michigan.

What forms are needed for an LLC in Michigan?

The document required to form an LLC in Michigan is called the Articles of Organization. The information required in the formation document varies by state. Michigans requirements include: Registered agent.

How to form a corporation in Michigan?

To start a corporation in Michigan, youll need to do three things: appoint a registered agent, choose a name for your business, and file Articles of Incorporation with the Department of Licensing and Regulatory Affairs (LARA). You can file this document online, by mail or in person.