Operating Agreement Llc Michigan With Multiple Owners
Description
How to fill out Michigan Limited Liability Company LLC Operating Agreement?
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FAQ
Michigan does not require you to submit an Operating Agreement to form your LLC. However, it is important for every LLC to have an Operating Agreement, establishing the rules and structure of the business.
Hear this out loud PauseA Michigan LLC Operating Agreement is a legal document outlining the rules governing your limited liability company. An operating agreement is an internal document, meaning you don't have to file it with the Michigan Department of Licensing and Regulatory Affairs (LARA). In fact, it's entirely optional.
Here are the steps to starting an LLC in Michigan: Choose an LLC name and make sure it's available. Choose who will be your Michigan Registered Agent. File the Michigan LLC Articles of Organization. Complete and sign an LLC Operating Agreement. Get a Tax ID Number (EIN) from the IRS. Research business license requirements.
Without the operating agreement, your state might not acknowledge you as an LLC, which means someone could sue you without there being any shield to protect your personal assets. You've already put in the time and effort to form your LLC to get liability protection.
An operating agreement isn't mandatory. It also helps show that your LLC is a legitimate business entity that's separate from you, not just some sham that's been created to avoid liability.