How Much Does an LLC Cost in Michigan?

Cost of Filing an LLC in Michigan

The first step in forming an LLC in Michigan is to file articles of organization with the Michigan Department of Licensing and Regulatory Affairs (LARA). The cost of filing articles of organization is $50. This fee is non-refundable and must be paid at the time of filing.

Annual Report and Franchise Tax

After forming an LLC, you will need to file an annual report with the Michigan Department of Licensing and Regulatory Affairs (LARA) and pay a franchise tax. The annual report fee is $25, and the franchise tax is $50. These fees are due by April 15th of each year.

Registered Agent and Registered Office

When forming an LLC in Michigan, you will need to appoint a registered agent and registered office. The registered agent is responsible for receiving legal documents and notices on behalf of the LLC. The registered office is the physical location where the registered agent will receive these documents. The cost of appointing a registered agent and registered office can vary depending on the service provider. However, it is typically around $100 to $200 per year.

Business Licenses and Permits

Depending on the type of business you are operating, you may need to obtain additional licenses and permits from the state of Michigan. The cost of these licenses and permits can vary depending on the type of business and the location. However, it is typically around $100 to $500 per year.

Other Costs

There are other costs associated with forming an LLC in Michigan, including:

• • Attorney fees: If you hire an attorney to help you form your LLC, you will need to pay their fees. These fees can vary depending on the attorney and the complexity of the case.
• • Accounting and bookkeeping services: If you need to hire an accountant or bookkeeper to help you manage your LLC's finances, you will need to pay their fees. These fees can vary depending on the services required.
• • Insurance: If you need to purchase insurance for your LLC, you will need to pay the premium. The cost of insurance can vary depending on the type of insurance and the coverage.
• • Other expenses: There may be other expenses associated with forming an LLC in Michigan, including the cost of business cards, letterhead, and other marketing materials.

Conclusion

As you can see, the cost of forming an LLC in Michigan can vary depending on several factors. However, by understanding the costs associated with forming an LLC, you can make an informed decision about whether an LLC is the right choice for your business. If you have any questions or need further assistance, please don't hesitate to contact us.

PostSummary

Learn about the costs associated with forming an LLC in Michigan, including filing fees, annual report and franchise tax, registered agent and registered office, business licenses and permits, and other expenses.