So You Wanna Be an LLC Lord (or Lady) in Michigan? How Much Does the Fancy Title Cost?
Let's face it, starting a business is exciting! You're your own boss, calling the shots (except maybe to your cat who definitely thinks they're in charge). But before you go out and buy a monogrammed bathrobe (essential for any LLC Lord or Lady), there's a little hurdle called the LLC formation process.
Here in Michigan, the "Land of the Great Lakes and Probably Reasonable Business Fees," you might be wondering: how much does this whole LLC thing cost?
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| How Much Does It Cost To Get A Llc In Michigan |
The Not-So-Scary State Filing Fee
Buckle up, because this might break the bank... It's a whopping $50. I know, I know, grab your fainting couch. That's the state filing fee you need to pay to the Michigan Department of Licensing and Regulatory Affairs (LARA), the folks who keep track of all the cool LLC kids in the state.
QuickTip: Slow scrolling helps comprehension.
Need for Speed? Buckle Up Your Wallet
But what if you're like a business cheetah and you need your LLC formed, like, yesterday? Well, my friend, LARA can expedite the process for a fee. This can range from an extra $50 to a cool $1,000, depending on how fast you need your LLC to be born.
Beyond the Basics: Annual Report Fees and Other Fun Stuff
Now, the $50 filing fee is kind of like the initiation fee for your exclusive LLC club. But to stay in good standing with the state, you'll need to file an annual report every year. This comes with a price tag of $25 for a standard LLC or $75 for a professional LLC. There might also be other fees depending on your business needs, like licenses and permits.
But Wait, There's More! (Except There Really Isn't)
QuickTip: Skim the intro, then dive deeper.
That's pretty much the breakdown of the costs associated with getting your LLC in Michigan. So, it's not going to set you back the price of a private island (although, that would be a pretty sweet business headquarters).
Alright, Alright, Alright - Here's the TL;DR
- Basic filing fee: $50 (phew!)
- Expedited processing: extra fees depending on speed (need for speed = need for extra cash)
- Annual report fee: $25 (standard) or $75 (professional)
Frequently Asked Questions for the Aspiring LLC Lord/Lady
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How to name my LLC?
Tip: Reread if it feels confusing.
Michigan requires your LLC name to include "limited liability company" or an abbreviation (LLC, Ltd., etc.). Make sure it's available by doing a name search on the LARA website.
How to file the Articles of Organization?
You can file online, by mail, or in person with LARA. There are also LLC formation services that can help you with the process.
How to choose a registered agent?
QuickTip: Scan for summary-style sentences.
A registered agent is someone who accepts legal documents on behalf of your LLC. You can be your own registered agent, or you can hire a service.
How to keep my LLC active?
File your annual report and pay the annual report fee by the due date.
How to dissolve my LLC (if things don't work out)?
There's a process for dissolving your LLC, which involves filing paperwork with LARA.
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