You might be wondering how long it takes to obtain a DBA if you’re wanting to launch a business in Michigan. A trade name known as a DBA, or “doing business as” name, enables you to conduct business under a name other than your legal name. The procedure for requesting a DBA in Michigan is reasonably simple, and the time it takes for approval can change depending on a few variables.
You must submit Articles of Organization to the Michigan Department of Licensing and Regulatory Affairs (LARA) in order to establish an LLC there. The $50 filing fee is payable either online or by mail. Applying for your DBA is then possible when your LLC has been approved. Additionally, a DBA application for Michigan is submitted to LARA for a $10 filing fee. Additionally, you must publish a notice of your DBA for three consecutive weeks in a local newspaper.
In Michigan, approving a DBA can take a while. The processing time for the application by LARA is normally two weeks, although it may take longer if there are any problems. Following the approval of your DBA, you can sign up to do business in Michigan. In order to do this, you must register with both the Michigan Unemployment Insurance Agency and the Michigan Department of Treasury. The procedure can take two weeks to finish.
It’s crucial to confirm that the name is accessible before registering your company name in Michigan. If you want to check if the name you want is taken, you can search the Michigan LARA database. You can submit your DBA application if the name you want is open for business. You’ll need to pick an alternative name if the first one is not accessible. A DBA does not need a separate bank account in terms of banking. However, it’s wise to keep your personal finances and corporate finances distinct. Even if you conduct business under your own name or a DBA, you can open a separate bank account for it.
In conclusion, the processing period for an application for a DBA in Michigan can differ, but it normally takes LARA two weeks. You must submit Articles of Organization to LARA in order to establish an LLC in Michigan. You can then register to do business in Michigan after receiving your DBA. Before submitting your DBA application, it’s critical to confirm that your selected business name is available. You should also maintain your personal finances distinct from those of your company.
While a DBA has numerous benefits, some of its drawbacks include the fact that the business owner is not protected from responsibility, no independent legal entity is created, and it could not be recognized in other jurisdictions. Additional costs and paperwork could be needed in order to register for a DBA.