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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.
In a single-member LLC, an LLC's owner reports the business's profits and losses on Schedule C of IRS Form 1040, and the business does not report or pay taxes independently. The LLC owner must also pay self-employment taxes (Social Security and Medicare) on all taxable income from the business.
In a member-managed LLC, members (owners) are responsible for the LLC's day-to-day operations. In a manager-managed LLC, members appoint or hire a manager or managers to run the business. Whoever manages your LLC will be able to open and close bank accounts, hire and fire employees, enter contracts, and take out loans.
Starting a professional limited liability company in Michigan is absolutely free with Inc Authority. You are only required to pay the mandatory state filing fee of $50, and Inc Authority will take care of the rest at no extra charge.
Prepare and file with Michigan Michigan does not require you to submit an Operating Agreement to form your LLC.