Lara Corporation Division (2024)

FAQs

Do you have to renew your LLC every year in Michigan? ›

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.

To check the status of your LLC in Michigan, you will need to visit the Michigan Department of Licensing and Regulatory Affairs (LARA) website. On the LARA website, you can find a business entity search tool which allows you to search for your LLC by name or file number.

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.

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 .

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.

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.

If you fail to properly dissolve your Michigan business, you might also be subject to fines or financial penalties depending what the issues are. Problems with dissolving your Michigan corporation or LLC could also negatively impact business owners' or members' credit and future business ventures.

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.

Do I need a Michigan certificate of good standing? ›

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.

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

Registering your LLC gives you a legal foundation to conduct business. Plan to keep your LLC compliant and in active status on the state's website. Michigan LLC's must regularly file an annual statement (also called “annual report" in other states) every year. The statement is due Feb.

If you want to do business around the Great Lakes, consider a Michigan LLC. The state's low cost of filing, local funding opportunities and small business resources make it a great place to live and work. By forming an LLC in Michigan, you can take advantage of all the business advantages the state has to offer.

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 ...

The maximum duration of the limited liability company is perpetual unless otherwise provided in the articles of organization. History: 1993, Act 23, Eff. June 1, 1993;Am. 1997, Act 52, Imd.

The state of Michigan requires all Michigan corporations, LLCs, and nonprofits to file an annual report each year. Michigan LPs, LLPs, and LLLPs aren't required to file annual reports. All annual reports must be filed with the Michigan Department of Licensing and Regulatory Affairs (LARA).

Renew a Business License in Michigan

Other business licenses in Michigan will usually renew either annually or biennially depending on the city or state agency regulating the license. Check with the departments issuing the license(s) to your business to determine the renewal schedule and procedure.

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.