Lara Corporation Division (2024)

FAQs

How to find out who owns an LLC in Michigan? ›

You can find the name of the owner if you know the LLC's name. Search by the business name on Michigan's business entity search, and it will show the results on file.

In Michigan, every LLC must file an annual statement each year. The Michigan Department of Licensing and Regulatory Affairs will send you a pre-printed annual statement form approximately three months before the due date.

If your Michigan LLC has lost its good standing, you can still do business in Michigan. However, you won't be able to file any other paperwork with LARA – not even to dissolve your Michigan LLC. After two years, your Michigan LLC's name will become available for other businesses to use.

Call the Corporations Division at (517) 241-6470.

Common methods include the LLC Operating Agreement, Membership Certificates, Articles of Organization, Meeting Minutes and Resolutions, Financial and Tax Documents, Member Agreements and Buy-Sell Agreements, and State Registration and Filings.

You'll need to choose a name to include in your articles before you can legally register your LLC. Names must comply with Michigan's naming requirements. The following are the most important requirements to keep in mind: Your business name must include the words limited liability company, LLC, or L.L.C.

Michigan LLC Cost. Forming an LLC in Michigan costs $50—the state fee to file the Michigan Articles of Organization. You'll also need to pay a $25 annual report fee every year to keep your LLC active.

If you're a multi-member LLC you are taxed as a partnership and file Form 1065, if filing is required. Every Michigan limited liability company is required to file an Annual Statement each year which is due February 15 each year, with a filing fee of $25.

In Michigan, filing as a C-corp will mean that your LLC must pay federal corporate income tax at 21% and state corporate income tax at 6%. Filing as a C-corp is more complicated than filing under default status, so seek advice from an accountant to decide if C-corp status is right for your LLC.

Consequences of Non-Compliance: If you don't file the required tax return or pay the annual fee, the LLC may face penalties and interest on unpaid taxes. Additionally, the state could administratively dissolve your LLC if these obligations remain unfulfilled for an extended period.

What is a negative of an LLC? ›

Disadvantages of creating an LLC

Cost: An LLC usually costs more to form and maintain than a sole proprietorship or general partnership. States charge an initial formation fee. Many states also impose ongoing fees, such as annual report and/or franchise tax fees.

File your Michigan LLC's Annual Report every February 15th . You need to file it with the state every year. The Annual Report may be submitted on or before February 15, as long as within ninety (90) days prior the due date .

How Long Does It Take to Form an LLC in Michigan? Once you've gathered all of your information together and filed your Articles of Organization (or had Bizee do it for you), it can take up to 2 weeks for the Michigan Department of Licensing and Regulatory Affairs to process and legally create your LLC.

A Michigan Certificate of Good Standing (CGS) is the best and easiest way to prove that your business is in compliance with state law. Whether you're looking to expand your business outside the state, applying for government funding, or entering into an agreement with another company, a CGS might be essential.

How do you dissolve an Michigan Limited Liability Company? To dissolve your LLC in Michigan, submit a completed Michigan Certificate of Dissolution form to the Department Licensing and Regulatory Affairs (LARA) by mail or in person. The form cannot be filed online. Use of LARA forms is optional.

No. Michigan does not allow for anonymous LLCs, meaning the members' names do not appear on the articles of organization.

Michigan corporations, limited partnership and limited liability company names and the names of foreign corporations, limited partnerships, and limited liability companies with authority to transact business in the state may be searched on the web at: www.michigan.gov/corpentitysearch.In addition, the Business Services ...

An LLC will need an EIN if it has any employees or if it will be required to file any of the excise tax forms listed below. Most new single-member LLCs classified as disregarded entities will need to obtain an EIN. An LLC applies for an EIN by filing Form SS-4, Application for Employer Identification Number.