Michigan Operating Agreement for States who have Adopted the Uniform Limited Liability Act and the Revised Uniform Limited Liability Act

State:
Multi-State
Control #:
US-01931BG
Format:
Word
Instant download

Description

A Limited Liability Company (LLC) is a separate legal entity that can conduct business just like a corporation with many of the advantages of a partnership. It is taxed as a partnership. Its owners are called members and receive income from the LLC just as a partner would. There is no tax on the LLC entity itself. The members are not personally liable for the debts and obligations of the entity like partners would be. Basically, an LLC combines the tax advantages of a partnership with the limited liability feature of a corporation.


An LLC is formed by filing articles of organization with the secretary of state in the same type manner that articles of incorporation are filed. The articles must contain the name, purpose, duration, registered agent, and principle office of the LLC. The name of the LLC must contain the words Limited Liability Company or LLC. An LLC is a separate legal entity like a corporation.


Management of an LLC is vested in its members. An operating agreement is executed by the members and operates much the same way a partnership agreement operates. Profits and losses are shared according to the terms of the operating agreement.

Free preview
  • Preview Operating Agreement for States who have Adopted the Uniform Limited Liability Act and the Revised Uniform Limited Liability Act
  • Preview Operating Agreement for States who have Adopted the Uniform Limited Liability Act and the Revised Uniform Limited Liability Act
  • Preview Operating Agreement for States who have Adopted the Uniform Limited Liability Act and the Revised Uniform Limited Liability Act
  • Preview Operating Agreement for States who have Adopted the Uniform Limited Liability Act and the Revised Uniform Limited Liability Act
  • Preview Operating Agreement for States who have Adopted the Uniform Limited Liability Act and the Revised Uniform Limited Liability Act
  • Preview Operating Agreement for States who have Adopted the Uniform Limited Liability Act and the Revised Uniform Limited Liability Act
  • Preview Operating Agreement for States who have Adopted the Uniform Limited Liability Act and the Revised Uniform Limited Liability Act
  • Preview Operating Agreement for States who have Adopted the Uniform Limited Liability Act and the Revised Uniform Limited Liability Act

How to fill out Operating Agreement For States Who Have Adopted The Uniform Limited Liability Act And The Revised Uniform Limited Liability Act?

US Legal Forms - one of many biggest libraries of legitimate types in the USA - provides an array of legitimate record web templates you are able to obtain or print. Utilizing the website, you can find a huge number of types for organization and personal reasons, categorized by classes, suggests, or keywords.You will discover the most recent versions of types like the Michigan Operating Agreement for States who have Adopted the Uniform Limited Liability Act and the Revised Uniform Limited Liability Act within minutes.

If you have a subscription, log in and obtain Michigan Operating Agreement for States who have Adopted the Uniform Limited Liability Act and the Revised Uniform Limited Liability Act through the US Legal Forms library. The Acquire button will show up on each and every form you see. You gain access to all formerly saved types in the My Forms tab of your profile.

If you wish to use US Legal Forms initially, here are straightforward guidelines to obtain started out:

  • Be sure you have chosen the best form to your area/region. Select the Preview button to review the form`s content. Look at the form description to ensure that you have chosen the appropriate form.
  • In case the form does not suit your specifications, make use of the Research area near the top of the display to discover the one who does.
  • In case you are pleased with the shape, confirm your decision by clicking the Buy now button. Then, choose the prices program you want and offer your credentials to sign up for the profile.
  • Process the purchase. Utilize your charge card or PayPal profile to complete the purchase.
  • Choose the file format and obtain the shape in your system.
  • Make modifications. Complete, modify and print and sign the saved Michigan Operating Agreement for States who have Adopted the Uniform Limited Liability Act and the Revised Uniform Limited Liability Act.

Every web template you put into your account does not have an expiration day and it is your own property eternally. So, if you wish to obtain or print another duplicate, just visit the My Forms section and click on around the form you will need.

Obtain access to the Michigan Operating Agreement for States who have Adopted the Uniform Limited Liability Act and the Revised Uniform Limited Liability Act with US Legal Forms, probably the most extensive library of legitimate record web templates. Use a huge number of professional and express-distinct web templates that fulfill your organization or personal demands and specifications.

Form popularity

FAQ

This act shall be known and may be cited as the "Michigan limited liability company act". History: 1993, Act 23, Eff. June 1, 1993.

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.

You can get an LLC in Michigan in 2 weeks if you file online (or 4 weeks if you file by mail). If you need your Michigan LLC faster, you can pay for expedited processing.

Name your Michigan LLC. ... Choose your resident agent. ... Prepare and file articles of organization. ... Receive a certificate from the state. ... Create an operating agreement. ... Get an Employer Identification Number. ... Comply with employer obligations. ... Obtain business licenses.

Prepare and file with Michigan Michigan does not require you to submit an Operating Agreement to form your LLC.

Michigan requires LLCs to include both a resident agent and a registered office in their articles of organization. The agent accepts legal documents, demands or notices on behalf of the LLC and must have a physical address within Michigan to do so.

Do You Need a Business License in Michigan? While Michigan does not require a single, general business operating license for companies doing business in the state, many businesses must obtain at least one kind of business license or permit from the state before conducting business.

The rights, privileges, powers, and interests in property of the domestic limited liability company, as well as the debts, liabilities, and duties of the domestic limited liability company, shall not be considered, as a consequence of the conversion, to have been transferred to the surviving business organization to ...

Trusted and secure by over 3 million people of the world’s leading companies

Michigan Operating Agreement for States who have Adopted the Uniform Limited Liability Act and the Revised Uniform Limited Liability Act