LARA will send notices to your LLC every year to remind you to file your annual report. The annual report must be submitted by February 15th of each year. LLCs that miss this deadline to submit their annual report will be charged late fines and penalties, and they run the danger of having their LLCs liquidated by the state.
LLCs in Michigan must also submit an annual $25 fee in addition to their annual report. You can either write a check to the department or pay this charge online through the LARA website. In addition to incurring late fines and penalties, not paying this charge could lead to the dissolution of your LLC.
So what precisely is an LLC annual report? The annual report is a document that gives the state crucial details about your LLC, including the members’ names and addresses, the company’s address, and the registered agent’s name and address. This data is used to update state records and confirm that your LLC complies with all applicable laws.
Remember that Doing Business As (DBA) names are only valid for five years from the date of registration if you are also conducting business in Michigan under a different name. The DBA expires after this time frame and must be renewed. A new DBA registration can be submitted for renewal with the Michigan Department of Licensing and Regulatory Affairs. In conclusion, it is critical to file your annual report and pay your annual fee on time if you own an LLC in Michigan in order to keep your LLC in good standing and maintain its legal position in the state. Additionally, to maintain the validity of your business name if you are conducting business in Michigan under a DBA, make sure to renew your registration every five years.
You must go to the Michigan Department of Licensing and Regulatory Affairs (LARA) website and adhere to the directions for filling out the Articles of Organization form in order to create a Michigan LLC online. Basic details regarding your LLC, like its name, registered agent, and intended use, must be provided. Your LLC will be formally registered with the state of Michigan once you have filled out the form and paid the necessary filing fee. Additionally, based on Michigan’s particular rules and regulations, you might be required to submit an annual report for your LLC to the state of Michigan.