You might be wondering if you have to file a state tax return if you live in Michigan. Your age, filing status, and level of income will all affect the response. In general, you are required to file a state tax return if you received any income in Michigan. However, if your income is below a particular amount, you might not be required to file.
If your gross income is $5,200 or more for the tax year 2020 and you are a single filer under the age of 65, you must file a Michigan tax return. If you are 65 years of age or older, the minimum is $6,450. The barrier for married couples filing jointly is $10,400, while the threshold for single filers is $5,200. The Michigan Department of Treasury website is the best source for the most recent information regarding these income levels because they are subject to change each year.
Is a Business License Required to Sell Online? You might be asking if you need a business license in Michigan if you intend to sell goods or services online. It depends, is the succinct response. You must apply for a sales tax license with the Michigan Department of Treasury if you are selling goods or services that are subject to sales tax. As a result, you will be able to gather and send sales tax to the state.
Depending on the kind of business you are running, you might also need to get a business license or permit in addition to a sales tax license. For instance, you might need to get a home occupation permit if you’re beginning a home-based business. You must obtain a food service license if you are starting a restaurant. For further information on the particular licenses and permissions you might want, contact the Michigan Department of Licensing and Regulatory Affairs.
Limited liability company (LLC) formation is one of the many legal documents and services that LegalZoom, a well-known online legal business, provides. Even though LegalZoom can be a quick and inexpensive way to form an LLC, it might not be the ideal choice for everyone.
The fact that LegalZoom is not a law practice and cannot give legal advice is one potential drawback of using the service. This implies that you could need to speak with a lawyer if you have complicated legal requirements or inquiries. LegalZoom might not be able to offer the same degree of personalisation and customisation as an attorney.
Having said that, LegalZoom may be a suitable choice for people who wish to save money on legal bills and have relatively straightforward legal needs. The business provides a range of LLC creation packages that come with extras like personalized operating agreements, articles of organization preparation and filing, and name availability checks.
An LLC in Michigan is perpetual until and until it is dissolved by its owners or the state. However, in order to keep their active status, LLCs must submit an annual report to the Michigan Department of Licensing and Regulatory Affairs. The annual report must be submitted electronically and is due on or before February 15th of each year.
If an LLC doesn’t submit an annual report for two years in a row, the state may decide to dissolve the LLC. The owners must submit an application for reinstatement and settle any unpaid fines or fees in order to bring a dissolved LLC back into existence. How Can I Dissolve a Company in Michigan?
There are a few measures you must follow in order to properly dissolve your business in Michigan if you are prepared to close it. Articles of dissolution must first be submitted to the Michigan Department of Licensing and Regulatory Affairs. The name of your company, the dissolution date, and the signatures of all owners or members must all be included in this document.
The next step is to revoke any business licenses or permits that your company may have. Additionally, you should terminate any contracts or agreements your company has made, like leases or service agreements.
Last but not least, you must pay off any unpaid bills or obligations owed by your company, such as taxes, loans, and accounts payable. Your company will be declared to have been dissolved if all of these procedures have been carried out.