It’s possible that you’ll need to obtain an Employer Identification Number (EIN) if you’re beginning a business in Michigan. The Internal Revenue Service (IRS) issues an EIN, a special nine-digit number, to identify your firm for tax purposes. The steps to take in Michigan to obtain an EIN number are as follows:
Not all companies require an EIN. If you hire people, run your business as a partnership or corporation, or file certain federal tax returns, such as employment tax returns or excise tax returns, you must obtain an EIN. The IRS provides a useful questionnaire on their website that will help you decide if you need an EIN if you’re not sure if you do.
You can apply for an EIN via phone, fax, mail, online on the IRS website, or in person. Applying online is the simplest and quickest option. The online application is accessible from 7:00 a.m. to 10:00 p.m. Eastern Time, Monday through Friday. The application is free and only needs to be filled out briefly.
If you apply online, you will have your EIN right away after you’ve finished the process. Your EIN may take up to four weeks to arrive if you submit your application by phone, fax, or mail.
Does Michigan Require a Business License to Sell on Etsy? You might require a business license if you sell on Etsy in Michigan. Depending on the kind of business you run and where in Michigan you are located, you will require a specific kind of license. To find out what licenses or permits you need to lawfully operate your business, check with your local city or county government. How Much Does it Cost in Michigan to Register a Business Name?
The Michigan Department of Licensing and Regulatory Affairs (LARA) charges $10 to register a business name. Using the LARA eLicensing system, you can register your company name online. Additionally, you can register in person at a LARA Customer Service Center or by mail.
An LLC application is normally processed in Michigan within 7 to 10 business days. It could take up to 2-3 weeks for your application to be processed if you decide to mail it in. A charge for expedited processing might be paid if you need your LLC approved right away. How Much Does LLC Cost in Michigan?
The cost of submitting the LLC’s Articles of Organization in Michigan is $50. Additionally, there is a $25 annual cost for maintaining the LLC. There is an extra $50 charge if you decide to mail in your articles of organization. A charge for expedited processing might be paid if you need your LLC approved right away.