How to start a Michigan LLC
Many entrepreneurs in Michigan wonder “How can I legally form my new Michigan business?” We talked about how to choose if you should form an LLC or a Corporation in a previous post, and it’s critical you talk to someone like us first to determine which type of business is best for you. Once you have determined a Michigan LLC is right for you, follow the steps below to successfully launch your new business!
1. File your Michigan LLC paperwork and Federal EIN application.
First, you must check to see if the name you want for your business is available. The database of Michigan LLC names is online, make sure yours is not taken already: http://www.dleg.state.mi.us/bcs_corp/sr_corp.asp
If your business name is available, you must now file LLC paperwork with the state. The payment amount and mailing instructions are on page 2: http://www.dleg.state.mi.us/bcsc/forms/corp/llc/700.pdf
Finally, let the IRS know you exist by applying for an EIN application. It is all online and takes about 20 minutes to complete: https://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Apply-for-an-Employer-Identification-Number-(EIN)-Online. When it asks entity type, you indicate LLC/partnership. It will ask when you plan to start payroll. Be as accurate as possible, but err on the side of later rather than sooner. If you indicate this quarter (2nd) and you don’t start until the 3rdquarter it just causes paper filing hassles. You can always say 3rd and actually start in the 2nd.
2. Set up your QuickBooks file, acquire business insurance, and start marketing your new business!
We’re happy to help you get your business off to the right start, and have tax and accounting professionals experienced working with startups and entrepreneurs.
Good luck on your new endeavor!