Maintaining regular status checks on your Limited Liability Company (LLC) is crucial if you own one in Michigan. You can maintain track of crucial dates, like those for filing requirements, tax payments, and yearly reports, by checking the status of your LLC. The Department of Licensing and Regulatory Affairs (LARA) is in charge of registering and overseeing LLCs in Michigan. We will go through how to do a Michigan LLC status check in this article, along with other pertinent topics.
You can use a tool on the Michigan LARA website to verify the status of your LLC. You should carry out the following easy actions to determine the status of your LLC:
a. Go to the Michigan LARA website
b. Select “Business Services”
c. Click on “Search for a Business Entity”
d. Type in your LLC name or identification number
e. Click “Search”
You will be able to see the status of your LLC once the search is complete. It is possible for the status to be “Active,” “Dissolved,” “Revoked,” or “Resigned.” Your LLC is in good standing if it is listed as “Active,” which indicates that all necessary filings and fees have been paid on time. If your LLC is listed as “Dissolved,” it has been terminated, and you must submit the required documents to have it reinstated. If your LLC’s status is “Revoked,” it signifies that it has lost its legal standing as a result of breaking Michigan law. Last but not least, if your LLC is listed as “Resigned,” it has voluntarily disbanded.
In Michigan, may a minor own an LLC? A minor cannot own an LLC in Michigan. Only individuals who are 18 years of age or older may create and possess LLCs, according to Michigan law. A juvenile, however, may join an LLC if they are at least 16 years old. In such a circumstance, the operating agreement of the LLC shall be executed by the parent or legal guardian of the minor.
A legal document known as an operating agreement spells out the policies and guidelines regulating an LLC’s management and operations. Although an operating agreement is not required in Michigan for an LLC, it is strongly advised. The following details are often found in an operating agreement:
2. The LLC’s management structure
4. The LLC’s contributions to capital and distribution of earnings
6. The LLC’s dissolution process and procedures
How Do I Establish an LLC? You must do the following actions in order to form an LLC in Michigan: Choose a name for your LLC that meets with Michigan’s naming regulations in step one. Submit your articles of incorporation to the Michigan LARA in step two. 4. Create an operating agreement
3. Obtain an Employer Identification Number (EIN) from the IRS
5. Obtain all essential licenses and permits and register for Michigan taxes. In conclusion, it is imperative that you constantly verify the status of your LLC in Michigan. To verify the status of your LLC, use the online tool on the Michigan LARA website. Minors are not permitted to own LLCs in Michigan, although they are permitted to join with the permission of a parent or legal guardian. A key document that sets the guidelines governing an LLC’s management and activities is the operating agreement. Finally, you must file Articles of Organization, receive an EIN, draft an operating agreement, register for Michigan taxes, and acquire all essential licenses and permissions in order to form an LLC in Michigan.
Depending on the type of filing, Michigan’s processing time for LLC filings varies. The processing time for online filings is normally 24 hours. The processing time for mail-in filings is between 3 and 7 business days. However, there is an extra charge for expedited processing.