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How to get an LLC in Michigan in 8 steps Name your Michigan LLC. Choose your resident agent. Prepare and file articles of organization. Create an operating agreement. Get an employer identification number and open a business bank account. Comply with employer obligations. Obtain business licenses. Register for state taxes.
What is required to start an LLC in Michigan?
To officially form your Michigan LLC, youll need to file Articles of Organization with the Michigan Department of Licensing and Regulatory Affairs (LARA). You can file the document online, by mail, or in person. The total cost to file is $50. The states processing time for online filings is around two weeks.
What is the disadvantage of an LLC?
A major disadvantage of an LLC is that owners may pay more taxes.
How much does an LLC in Michigan cost?
Cost to Set Up an LLC in Michigan The filing fee to create an LLC in Michigan is $50. Should you wish to expedite the process, there are additional fees ranging from $50 up to $1,000 depending on how quickly you need your LLC formed.
What is the limited liability company Act in Michigan?
MCL - Act 23 of 1993. AN ACT to provide for the organization and regulation of limited liability companies; to prescribe their duties, rights, powers, immunities, and liabilities; to prescribe the powers and duties of certain state departments and agencies; and to provide for penalties and remedies.
How much does it cost to set up an LLC in Michigan?
Advantages of Michigan LLC Members personal assets are shielded from business liabilities and debts, providing a crucial layer of protection for entrepreneurs. This safeguard not only offers peace of mind but also encourages entrepreneurship and risk-taking among local Michigan business owners.
How much money should you have before starting an LLC?
If your business already earns a profit or if it carries any risk of liability, you should start an LLC immediately. Many folks say you should form an LLC once you earn over $100,000. However, many lawyers insist you start an LLC from the get-go.
Related links
Title 3 BUSINESS AND LICENSE REGULATIONS Chapter
ENTITY: Includes a corporation, partnership, limited liability company, or other lawful entity, organization, society or association. FEES: The cost charged to
MCL Index of Act 23 of 1993 Michigan Legislature Jan 30 2025 Professional limited liability company license required employee explained effect of act on
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