Running an LLC or Limited Liability Company in the WolverineState has given owners a significant increase in revenue and overall business income. The state offers convenient formation processing, enabling startup owners and young entrepreneurs to have better control over their business ventures.
The state does allow for ease of setup, and throughout the formation process, owners will have the ability to see whether their newly designated LLC status is available to be used. Furthermore, owners can do a simple online search via the Michigan business database or can reserve their desired name by completing and submitting an online application.
Checking your LLC status and what you should know?
After establishing a successful business plan, the owner can now start looking at finding a name for their business. There are certain regulations and guidelines to ensure successful filing, but seeing whether the desired name is available to be used in the state or perhaps across America is straightforward and simple.
The Michigan business database contains all the registered LLC names and businesses in the state, and a simple online search will deliver the needed results. In addition, you can also make use of their online name reservation application to ‘reserve’ your preferred name.
Can you use a DBA or any other fictitious name?
A DBA or Doing Business As name is possible, and won’t need to be a registered legal name of the owner(s). Moreover, filing a fictitious name is also generally possible with minimum limitations. To register the assumed name and status of your LLC can be completed in person with the Michigan Department of Licensing and Regulatory Affairs, with a $25 fee payable upfront.
How do I set up an LLC in Michigan?
The formation process, which can be completed on your own, has waived the complex and multilayered approach to offer a more convenient setup.
The setup process not only involves prominent steps, but also the administration and filing involved with registering for business tax on both state and federal level, and also, ensuring you comply with legal requirements issued by the Michigan state affairs.
Easily set up an LLC in Michigan with these five steps:
After you’ve managed to secure a good business idea, either on your own or with a partner, you can create and register your business name. As already stated, you can use a fictitious name, and you won’t be required to use the legal name(s) that the LLC is registered with.
Step 2 and 3 are a combined effort because when filing your agreement articles, you’ll need to appoint a Michigan registered agent who will be in charge of receiving and sending legal LLC formation documents.
Officially form your LLC, by filing articles of agreement, which will outline the business function, type of business structure, and how the business will ensure state compliance during operations. This step is very important, and you can require the assistance of a lawyer or other services if needed.
An operating agreement is obligatory and should outline who will be responsible for different areas of the LLC. Furthermore, you should clearly state who are the involved members, and to what capacity they intend to serve in the LLC.
Register your business for an EIN – Employer Identification Number which will help you register for state and federal taxes, higher employees, and open a business bank account.
Finally, how easy is it to set up an LLC in Michigan?
Like many other states, there aren’t many reservations in the setup of an LLC in Michigan, as their well-established economy offers new business ventures a successful lifespan. A lot of new businesses and especially LLCs have seen generous support from both state and federal government, as more liability protection and lower tax rates have become an attractive offering for new LLCs.