What is the PEO statute in Michigan?

Professional Employer Organizations are regulated under Act 370 of 2010. The Act defines a "PEO" or "professional employer organization" as any person engaged in the business of providing professional employer services regardless of its use of a descriptive term other than "professional employer organization" or "PEO".

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Michigan Professional Employer Organization License Application

Michigan Professional Employer Organization License Application

Name: Michigan Professional Employer Organization License Application
Brand: US Legal Forms
Price: 59.00 USD
Rating: 4.82 (246 reviews)

Category:

Michigan Secretary of State - Blue Sky - Securities - Enforcement

State:

Michigan

Control #:

MI-PEO-010

Format:

Instant download

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Description

Professional Employer Organization License Application The Michigan Professional Employer Organization (PEO) License Application is a document used to apply for a license to operate a Professional Employer Organization in the state of Michigan. The application is required for any business that intends to offer employee leasing, payroll processing, human resource management, and other services to employers. There are three types of Michigan PEO License Application: Basic License, Limited License, and Broker License. The Basic License is the most comprehensive license and includes all the services that a PEO may offer. The Limited License is for those that are offering fewer services than what is included in the Basic License and the Broker License is for those that will be engaging in the solicitation of business for a PEO.

The Michigan Professional Employer Organization (PEO) License Application is a document used to apply for a license to operate a Professional Employer Organization in the state of Michigan. The application is required for any business that intends to offer employee leasing, payroll processing, human resource management, and other services to employers. There are three types of Michigan PEO License Application: Basic License, Limited License, and Broker License. The Basic License is the most comprehensive license and includes all the services that a PEO may offer. The Limited License is for those that are offering fewer services than what is included in the Basic License and the Broker License is for those that will be engaging in the solicitation of business for a PEO.

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FAQ

A professional employer organization (PEO) is an organization that enters into a joint-employment relationship with an employer by leasing employees to the employer, thereby allowing the PEO to share and manage many employee-related responsibilities and liabilities.

A professional employer organization (PEO) provides payroll administration and compliance support, as well as additional HR services. A payroll service provider (PSP) handles your payroll administration and compliance without any shared legal burden.

A PEO, or professional employer organization, is a type of full-service human resource outsourcing known as co-employment. In this arrangement, the PEO performs various employee administration tasks, such as payroll and benefits administration, on behalf of a business.

PEOs typically serve as a professional employer of their clients' employees. The client company reports its wages under the PEO's federal employer identification number (FEIN), and employee liability shifts to the PEO. Employers gain economies of scale by having more benefits options, sometimes at lower rates.

Professional Employer Organizations are regulated under Act 370 of 2010. The Act defines a "PEO" or "professional employer organization" as any person engaged in the business of providing professional employer services regardless of its use of a descriptive term other than "professional employer organization" or "PEO".

A professional employer organization is a company that provides outsourced services to businesses. For example, a business can hire a PEO employee for management tasks such as benefits administration, recruiting, regulatory compliance and payroll.

How to Start a PEO: A Step-by-Step Guide Step 1 ? Create a business plan.Step 2 ? Establish a rapport with third-party vendors.Step 3 ? Work on service agreements.Step 4 ? Consider relevant software and automation technologies.Step 5 ? Ensure you practice accurate accounting.

More info

Professional employer organization licenses are required in 35 states. Entities should register with the secretary of state prior to applying for a license.Many states require Professional Employer Organizations (PEOs) to be licensed. Review state licensing for PEOs. How does the PEO cover employee benefits? Is it licensed in California? A PEO holding a limited Oregon license must apply for a full license within 30 days of no longer meeting the criteria listed above. Other licensee information. Current Arkansas law and regulations provide for certain licensing requirements to engage in the business of a Professional Employer Organization ("PEO"). Learn more about legal requirements for professional employer organizations.

Michigan Professional Employer Organization License Application

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