In Michigan, forming a corporation requires filling out paperwork with the Secretary of State, paying fees, and awaiting approval. Once approved, you’ll get a certificate of incorporation. This document serves as proof that you are incorporated. You’ll use it to open bank accounts, buy property, hire employees, and do many other things. If you’re thinking about starting a business, this is something you should know.
Table of Contents
1. Choose a Corporate Name
Your corporation’s name must contain one of the following four words or an abbreviation of them.
• Limited Liability Company
2. Reserve a Name
To reserve a name, you must file a statement with the Secretary of State. This form requires a $10 filing fee. You must pay the fee within 30 days of receiving the certificate. Contact the Secretary of State’s office if you do not receive the certificate within 10 working days of filing your application.
2. You need to file articles of incorporation for your LLC.
To incorporate an LLC (Limited Liability Company), you must complete several steps. First, you must file Articles of Incorporation with the Secretary of State’s office. Then, you must pay the filing fee and file the articles with the county recorder where you want to register your company. Finally, you must publish notice of the incorporation in a newspaper published within the state.
A corporation can be formed without having a registered agent and without filing Articles of Incorporation, but it will be difficult to do business in many states.
3. Register an agent for service of process.
An agent for service of process must be appointed for each corporation doing business within the state of Michigan. This is typically done by filing articles of incorporation with the Secretary of State. A corporate officer may serve as the registered agent, but it is recommended that a separate individual be designated. If you do not represent a registered agent, the Secretary of State will automatically appoint one for you.
There are several methods of appointing a registered agent. You may choose to use one of the following:
1. Registering a domestic corporation in Michigan
2. Incorporating a foreign corporation in Michigan
3. Filing Articles of Incorporation with the Secretary of State
4. Designating a person as a registered agent
5. Designating a corporation as a registered agent
4. Draft corporate bylaws
Corporations are legally recognized entities that exist independently of individuals. They must follow certain rules and procedures in order to function properly. These rules include what type of capital structure it uses, how much debt it takes on, and whether it has employees or independent contractors.
A corporation cannot do anything without shareholder approval. This includes hiring people, making decisions about where to invest money, and even changing how the company operates. Shareholders often vote on corporate policies and decide how the company will be run. To start a corporation, you will need to prepare a set of corporate bylaws.
5. Appoint Directors and Hold First Board Meeting
The incorporator must appoint directors no later than 30 days after filing Articles Of Organization. The incorporator must file articles of incorporation with the Secretary of State. The incorporator must keep a record of all minutes of board meetings, including actions taken, votes cast, and resolutions passed. The incorporator shall vote by proxy if no shareholders are present at a meeting.
A director serves until his successor has been elected and qualified. Each director holds office until his successor is duly elected and qualified. In the event of the death or resignation of a director before the expiration of his term, the remaining directors may fill such vacancy.
6. Get an EIN in Michigan
The IRS issues EINs to businesses that have a federal tax liability. The IRS issues an Employer Identification Number (EIN) for each business entity, including sole proprietorships and corporations. An EIN is required if you want to file your taxes as a corporation or LLC. You must also obtain an EIN if you want to deduct any expenses on your personal incometax return.
The IRS has a website where you can apply for an EIN at www.irs.gov/ein. You will need to provide information about yourself, such as name, address, Social Security number, date of birth, and other identifying information. If you do not already have one, you may be able to get an EIN from another state or country.
Frequently Asked Questions
How to Incorporate in Michigan
Michigan is a great place for business. It offers many advantages, including low taxes and an educated workforce. However, it can be difficult to incorporate your company here because of the state’s complicated corporate laws. If you are considering incorporating in Michigan, this guide will help you understand what you need to know about doing so.
Why Have a Registered Agent Form Your Michigan Corporation?
A registered agent is an individual or company that you designate to receive legal notices for your corporation. The registered agent will be responsible for receiving and filing documents with the state of Michigan, including annual reports, articles of incorporation, and other corporate filings. In addition, the registered agent will also be responsible for sending out any correspondence on behalf of your corporation.
James Rourke is a business and legal writer. He has written extensively on subjects such as contract law, company law, and intellectual property. His work has been featured in publications such as The Times, The Guardian, and Forbes. When he’s not writing, James enjoys spending time with his family and playing golf.