The Michigan Department of Licensing and Regulatory Affairs (LARA) requires that owners of Limited Liability Companies (LLCs) submit an annual report. If you want to keep your business in good standing with the state, you must submit this report before February 15th each year. Thankfully, submitting your Michigan annual report is a quick and easy process that may be completed online.
Go to the LARA website and log in to your account to get started. You must make an account if you don’t already have one. Once logged in, choose “File Annual Report” from the menu. To start the filing procedure, you must enter the name and ID number of your LLC.
The information about your business, including your registered agent and office address, must then be verified or updated. If necessary, you must also include information about the owners or managers of your business. The filing cost, which is presently $25, will be requested of you after all relevant data has been entered.
You will receive a confirmation email with a receipt of your filing after your payment has been processed. A copy of this receipt should be kept for your records. If you don’t submit your annual report by the due date, you risk fines and perhaps having your company’s LLC status revoked.
Additionally to the annual report, Michigan mandates that companies using fictitious names renew their registration every five years. You can submit a filing online via the LARA website to renew your assumed name. Simply sign into your account, click the “Renew Assumed Name” option, and then adhere to the on-screen directions. Finally, if you need to renew your LLC in Michigan, you can do it online as well.
The cost for renewing an assumed name in Michigan is $10. In Michigan, an LLC renewal costs $50. Log into your LARA account and choose “Renew Entity” to renew your entity. Make your payment online by following the instructions provided.
In conclusion, running your LLC in Michigan requires timely submission of yearly reports and renewals. A quick and easy approach to make sure your company maintains good status with the state is to file online through the LARA website. To prevent any penalties, keep in mind to file your annual report by the deadline of February 15th each year and to renew your LLC and assumed name as appropriate.
An LLC’s annual report is a document that updates the state government on the ownership, management, and business operations of the LLC. It is usually necessary for the state where the LLC is registered, and it needs to be submitted yearly to keep up good standing. The report can include details like the company’s name and address, the owners’ and managers’ names and addresses, and a rundown of their financial performance.