One of the crucial steps in the legal registration process for starting a business in Michigan is registering your business name. This post will cover some pertinent issues and how to register your business name in Michigan online. How to Onlinely Register a Business Name in Michigan?
1. Select an Original Name: The first step is to select an original name for your company. The name shouldn’t be the same as a Michigan company that already exists.
2. Verify Name Availability: Prior to registering your company name, you must verify that it is available. Search the website of the Michigan Department of Licensing and Regulatory Affairs (LARA) to accomplish this.
3. Register Your Name: After selecting a distinctive name and ensuring that it is available, you can register it online using the LARA website. You must register, fill out the registration form, and pay the necessary fees.
Every Michigan company is obliged to submit an annual report to the LARA. Penalties and fines may apply if the yearly report is not submitted. If you repeatedly fail to submit the annual report, your company may also be dissolved.
LLCs are required to keep accurate meeting minutes on file. A description of the conversations and conclusions made should be included in the minutes of the meeting, together with the date, time, and place. The minutes must be acknowledged and filed with the business’s records.
My personal credit may be impacted by my LLC. An LLC is a distinct legal person from its owners. However, your personal credit may be impacted if you directly guarantee a loan or credit for your LLC. To safeguard your personal credit, it is crucial to keep your personal and company finances separate. How frequently must a Michigan business license be renewed?
Business licenses in Michigan are normally granted for a predetermined timeframe, typically one year. To continue conducting business legally when it expires, you must renew your business license. Depending on the license type and area, the renewal time and conditions may change.
In conclusion, choosing a distinctive name, determining its availability, and registering it via the LARA website are the only steps needed to register your business name online in Michigan. Keep your personal and business finances separate, file the yearly report, keep accurate records of LLC meetings, and renew your business license before it expires. You may make sure that your company is functioning legally and ethically in the state of Michigan by following these instructions.
Businesses in Michigan are obliged to submit an annual business statement to the Michigan Department of Licensing and Regulatory Affairs (LARA). It gives details about the company, including its name, address, and registered agent, and it attests to the fact that it is still operating and is in good standing with the state. The business may finally be dissolved if the annual statement is not submitted on time.