In Michigan, both domestic and foreign LLCs, corporations, and Professional Limited Liability Companies must file statements annually to confirm and update details with the state.
Annual Statement Filing Process
- Michigan LLCs must file annual statements by February 15 each year (except for those formed after September 30).
- The fee for filing the statement is $25, with a $50 penalty for late submissions.
Consequences of Non-Compliance
Filing the annual statement keeps your LLC compliant and in good standing, avoiding dissolution.
- Michigan LLCs must renew their status annually by filing an annual statement.
- Failure to renew for two consecutive years results in loss of good standing and potential name availability for others to use.
Renewal Fee Information
The renewal fee for a Michigan LLC is the domestic charge, while foreign corporations pay for renewing corporate existence or the certificate of authority.
- Secretary of State Filing Fee: $50
- Name Reservation Fee: $25 for online filing and $10 for offline filing, valid for 6 months.
- Registering A DBA: Consider registering a "Doing Business As" (DBA) registration with the state.
Filing Annual Reports
Michigan LLCs must file annual reports each year by February 15, with a fee of $25 payable to the Michigan Department of Licensing and Regulatory Affairs.
- Consider hiring a registered agent service for additional fees.
- Check with local municipality for any business license requirements and associated annual fees.
- Hiring an attorney for LLC formation is not mandatory in Michigan.
Annual LLC Fees in Michigan
- An LLC in Michigan costs $25 per year for filing the annual report, in addition to any registered agent service fees.
- Sales tax at 6%, income tax at 4.25%, and federal taxes may also apply.
- Forming an LLC in Michigan costs $50 initially.
- Regular annual fees, such as the annual report fee of $25, are due by February 15 each year.
Final Steps for Business Establishment
- Register for sales and use tax, pay unemployment insurance if applicable.
- Complete annual reports and renewals to maintain good standing.
By following these procedures and requirements, your Michigan LLC can operate smoothly while complying with state regulations.