Michigan Liability for Annual Reports Under Two Statutes refers to the requirements for businesses operating in the state of Michigan to file annual reports. The two statutes are the Michigan Business Corporation Act and the Michigan Limited Liability Company Act. Under the Michigan Business Corporation Act, businesses must file an annual report with the Michigan Department of Licensing and Regulatory Affairs (LARA) within 60 days of the anniversary of their formation. The report must include the name of the corporation, its registered office address, its registered agent, and the names and addresses of its directors. It must also include the total number of shares authorized and the number of shares issued and outstanding. Under the Michigan Limited Liability Company Act, businesses must file an annual report with LARA within 90 days of the anniversary of their formation. The report must include the name of the LLC, its registered office address, its registered agent, and the names and addresses of its members. It must also include the total number of members and the total amount of contributions made to the LLC. Failure to comply with either of these statutes may result in fines or other penalties.
Michigan Liability for Annual Reports Under Two Statutes
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Michigan Corporation Annual Report Requirements: Agency:Michigan Department of Licensing and Regulatory Affairs (LARA) - Bureau of Corporations, Securities & Commercial Licensing - Corporations DivisionForm:Pre-printed form is mailed to your registered agent.Filing Method:Mail, in-person, or online.Agency Fee:$255 more rows
Michigan LLC Cost. Forming an LLC in Michigan costs $50?the state fee to file the Michigan Articles of Organization. You'll also need to pay a $25 annual report fee every year to keep your LLC active.
If your Michigan LLC has lost its good standing, you can still do business in Michigan. However, you won't be able to file any other paperwork with LARA ? not even to dissolve your Michigan LLC. After two years, your Michigan LLC's name will become available for other businesses to use.
Limited Liability Company ? Limited liability companies (LLCs) formed with the Michigan Department of Licensing and Regulatory Affairs (LARA) must file their annual report (called an Annual Statement) by February 15 each year.
Sec. 404. (1) A manager shall discharge the duties of manager in good faith, with the care an ordinarily prudent person in a like position would exercise under similar circumstances, and in a manner the manager reasonably believes to be in the best interests of the limited liability company.
The state of Michigan requires all Michigan corporations, LLCs, and nonprofits to file an annual report each year. Michigan LPs, LLPs, and LLLPs aren't required to file annual reports. All annual reports must be filed with the Michigan Department of Licensing and Regulatory Affairs (LARA).
What is a Michigan PLLC? A Michigan PLLC is a limited liability company (LLC) formed specifically by people who will provide Michigan licensed professional services. LLCs in general are businesses registered with the state that consist of one or more people?called LLC members?who own the business.
What is an Annual Report for an LLC? The Michigan LLC Annual Report is a filing that keeps your LLC's contact information up to date with the Michigan Department of Licensing and Regulatory Affairs (LARA). It can be filed online or by mail and it keeps your LLC in compliance and in good standing.