One of the initial stages when beginning a business in Michigan is to see if the desired business name is available. On the website of the Department of Licensing and Regulatory Affairs (LARA), you can look up business names in Michigan. If the name is already in use or has been reserved by another company, our search will let you know.
Go to the LARA website and select the “Business Entity Search” tab to start your search. From there, you can look up company names using keywords, the name of the owner, or the entity ID number. You will need to think of a new name if the one you like is taken.
You can register your company online using the LARA website once you’ve made sure the name you want is available. To do this, you’ll need to create an account and enter details like your company name, address, and entity type (such as LLC or sole proprietorship). How to Launch a Business in Michigan
There are a few things you must complete in addition to registering your business name if you’re creating your own company in Michigan. If you intend to hire staff, register for state and local taxes, and receive any licenses and permissions necessary for your industry, you must obtain an Employer Identification Number (EIN) from the IRS. Sole proprietorship vs. LLC
You must select a type of business entity when forming a business in Michigan. A Limited Liability Company (LLC) protects owners from personal liability while yet enabling pass-through taxation. The simplest and most typical company organization, the sole proprietorship, however, provides no liability protection for the owner. Are Business Licenses Required for LLCs?
Depending on the kind of business and industry, several licenses and permissions are needed in Michigan. Even while you might not always need a business license, forming an LLC might offer the owners liability protection. To ensure that you receive all required licenses and permits, it is crucial to research the unique requirements for your sector and area.
In conclusion, there are various processes involved in starting a business in Michigan, including determining whether your proposed business name is available, registering your company online, acquiring the required licenses and permits, and deciding on the type of corporate entity. You can effectively launch and operate your own business in Michigan by taking the procedures outlined above and conducting your own research.