If you want to launch a business in Michigan, you might be asking if you can serve as your own LLC’s registered agent. Yes, you can act as your own registered agent in Michigan, but there are a few things you need to be aware of before making this choice.
Let’s start by explaining what a registered agent is. A person or organization chosen as the LLC’s registered agent will receive formal legal and tax correspondence on its behalf. Notices pertaining to taxes, annual reports, and legal matters are examples of this.
An LLC must have a registered agent in Michigan who has a physical address there. As a result, if you want to form an LLC in Michigan but don’t have a physical address there, you’ll need to either employ a registered agent service or a friend or relative who resides in Michigan.
You are able to serve as your own registered agent if you do have a physical address in Michigan. Keep in mind, though, that doing this necessitates publishing your home address as your LLC’s contact information in the public records. It can be worthwhile to think about using a registered agent service if you’re uncomfortable with this or if you don’t want to have to manage the legal and tax correspondence yourself.
In Michigan, how much does it cost to register an LLC?
So, is it necessary to renew your LLC annually in Michigan? Yes, all Michigan LLCs are obliged to submit an annual report on a yearly basis. The annual report carries a $25 cost.
An LLC’s possible drawback is that it may cost more to start and run than a sole proprietorship or partnership. Additionally, self-employment taxes can be applicable to LLC owners.
No, LLCs are not required to submit a separate state tax return in Michigan. Instead, the owner’s personal tax return is used to disclose the LLC’s earnings and costs. On the other hand, LLCs with numerous owners could need to submit a federal partnership tax return.
In conclusion, you can serve as your own LLC’s registered agent if you have a physical address in Michigan. However, there may be some disadvantages, such as having your home address appear in public records. Make sure to conduct thorough research and weigh all of your alternatives before forming an LLC in Michigan to make the best choice possible for your company.