The northeastern American state of Michigan is well-known for its thriving economy and business-friendly laws. Whether Michigan requires an LLC in the business name may be one of your first concerns if you’re considering to launch a firm there. No, an LLC does not need to have the words “LLC” or “Limited Liability Company” in its name in order to exist in Michigan.
Although the state of Michigan does not mandate the use of the terms “LLC” or “Limited Liability Company” in the name of the company, it does demand that the LLC’s name stand out from those of other firms registered with the LARA. This means that the name of any LLC or corporation that is already registered in the state of Michigan cannot be the same as or too close to the name of your LLC.
The time it takes to register an LLC in Michigan can vary depending on a few different criteria. If you submit your paperwork online, your LLC should be created within 24 hours. However, it can take up to 7–10 business days if you decide to file by mail. In addition, if your application is lacking or needs more information, the processing time can take longer.
You might also wonder if domesticating LLCs is permitted in Michigan. Yes, domestication of an LLC is permitted in Michigan, enabling a foreign-formed LLC to transfer its registration to Michigan. For companies wishing to grow into Michigan without having to create a new LLC, this can be a useful option.
You can complete the identical procedures used to form a domestic LLC in Michigan if you are an overseas business. The Michigan Department of Licensing and Regulatory Affairs must receive your articles of organization, and you must designate a registered agent who resides in Michigan and is permitted to conduct business there.
The Michigan Department of Licensing and Regulatory Affairs must receive a Foreign Corporation Registration Statement if you are a foreign corporation seeking to conduct business in Michigan. The name of the corporation, the state in which it was formed, the location of its principal office, and the contact information for its registered agent in Michigan must all be included in this declaration.
In conclusion, Michigan does not mandate an LLC in the company name, but it does mandate that the name of the LLC stand out from that of other Michigan companies. Even while the registration procedure can be sped up by filing online, it can still take up to 10 working days. Foreign corporations may register to conduct business in Michigan by submitting the required paperwork to the Michigan Department of Licensing and Regulatory Affairs. Michigan permits the domestication of LLCs.
The terms “S corp” and “subchapter S corporation” are interchangeable. In both instances, the letter “S” stands for a specific Internal Revenue Code provision that describes how certain firms are taxed. The formation of an LLC differs from the formation of a S corporation in Michigan because an LLC is a distinct legal entity from a corporation.