The Michigan Policy Statement of Professional Service Corporations and Limited Liability Companies (the PESCSC/LLC”) is a document that outlines the laws and regulations that apply to professional service corporations and limited liability companies in Michigan. The statement provides guidance for business owners and their advisors in setting up and running a business in Michigan. It sets out the requirements for tax filing, reporting, and other regulatory compliance. It also covers the formation of LCS and PSC's, as well as the formation and operation of professional service contracts, such as physician contracts, attorney contracts, and other professional services. There are two types of the Michigan Policy Statement of Professional Service Corporations and Limited Liability Companies: The Corporate Policy Statement (CPS) and the Limited Liability Company Policy Statement (LL CPS). The CPS outlines the laws and regulations that apply to professional service corporations in Michigan, while the LL CPS outlines the requirements for limited liability companies in Michigan. Both documents provide the necessary guidance for business owners and their advisors to properly set up and operate a business in Michigan.