This By-Laws document contains the following information: the name and location of the corporation, the shareholders, and the duties of the officers.
Purpose Of Bylaws For Nonprofits In Michigan
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How to Start a Nonprofit Select a name for your nonprofit. Nominate a Michigan registered agent. Select/recruit board members. Bylaws and conflict of interest policy. Choose startup corporation structure. Prepare and file nonprofit Articles of Incorporation. Secure an EIN (Employer Identification Number)
Michigan rules state that your nonprofit organization must have at least three directors. You must also have an agent for service of process. This person will accept legal papers on behalf of the organization.
The state of Michigan and the IRS require nonprofits to have a minimum of three directors. On the other hand, it is recommended that nonprofits have anywhere between three to twenty-five board members, depending on size and scope.
How to Start a Nonprofit in Michigan Name Your Organization. Recruit a Board of Directors. File Articles of Incorporation. Obtain Employer Identification Number. Establish Governing Documents and Policies. Apply for Michigan Tax Exemptions.
The Michigan Limited Liability Company Act has a specific provision for what is called a low-profit LLC for charitable or educational purposes. While a low-profit LLC provides the organizers with limited liability, it poses significant problems in obtaining a federal tax exemption.
AN ACT to revise, consolidate, and classify the laws relating to the organization and regulation of certain nonprofit corporations; to prescribe their duties, rights, powers, immunities, and liabilities; to provide for the authorization of foreign nonprofit corporations within this state; to impose certain duties on ...
Once nonprofits in Michigan have received their federal tax exemption, they are automatically exempt from Michigan state income tax.
(b) The board of a corporation that is not described in subdivision (a) shall consist of 3 or more directors.
If the nonprofit was formed in Michigan (Domestic): Agency:Michigan Department of Licensing and Regulatory Affairs (LARA) - Bureau of Corporations, Securities & Commercial Licensing - Corporations Division Due: Annually by October 1 beginning the year following incorporation. Law: Michigan Code § 450.29116 more rows