WEBVTT 00:00:00.227 --> 00:00:05.587 To start an LLC in Michigan, you file Articles of Organization, Form 700, with the 00:00:05.644 --> 00:00:10.467 Corporations Division of LARA, the state's licensing department, and pay the $50 00:00:10.536 --> 00:00:11.267 filing fee. 00:00:12.040 --> 00:00:15.067 Fifty dollars. Is that all the state wants? 00:00:15.067 --> 00:00:21.507 For forming, yes. After that, you file an annual statement by February 15 every 00:00:21.587 --> 00:00:23.827 year, and that one is $25. 00:00:23.827 --> 00:00:25.827 This is The Business Formation Podcast. 00:00:25.894 --> 00:00:30.787 Today, Michigan for 2026, step by step, with the real costs and the three best ways 00:00:30.814 --> 00:00:33.827 to have it filed for you. What comes first? 00:00:35.309 --> 00:00:39.629 Michigan wants limited liability company, L.L.C., or L.C. 00:00:39.656 --> 00:00:44.109 in the name. It also has to be distinguishable from names already on record. 00:00:44.109 --> 00:00:46.269 Can I put Inc. on the end? 00:00:46.269 --> 00:00:51.790 No. Words like corporation or inc aren't allowed in an LLC's name. 00:00:51.790 --> 00:00:53.231 How do I check what's available? 00:00:53.231 --> 00:00:56.191 Run a search in the free Business Entity Search. 00:00:56.351 --> 00:01:01.871 To hold a name before you file, you can reserve it for 180 days for $25. 00:01:04.006 --> 00:01:06.006 And Michigan's registered agent? 00:01:06.006 --> 00:01:11.046 It's called a resident agent. You list a Michigan resident, or a business authorized 00:01:11.099 --> 00:01:15.126 in Michigan, at a Michigan street address, in Article 4 of your Articles. 00:01:15.126 --> 00:01:17.526 Could my LLC be its own agent? 00:01:17.526 --> 00:01:20.727 No. The company can't serve as its own agent. 00:01:21.495 --> 00:01:23.447 Does the agent's name become public? 00:01:23.447 --> 00:01:28.807 Yes, it goes on the public record, which is why many owners use a commercial agent. 00:01:28.967 --> 00:01:33.447 To change agents later, you file Form 520 for $5. 00:01:34.148 --> 00:01:35.748 Where do I send the form? 00:01:35.748 --> 00:01:39.508 Online, through the MiBusiness Registry portal, or by mail. 00:01:39.588 --> 00:01:43.028 You file Form 700 and pay $50. 00:01:43.028 --> 00:01:44.948 What does the online route look like? 00:01:44.948 --> 00:01:49.188 You sign in with a MiLogin for Business account and pay by card. 00:01:49.288 --> 00:01:54.788 The form itself is short. The name, the resident agent and registered office, and 00:01:54.818 --> 00:01:56.788 whether managers will run the company. 00:01:56.788 --> 00:01:59.188 I'm Maya, by the way, here with Dan. 00:01:59.188 --> 00:02:00.468 Great to be here with you, Maya. 00:02:00.688 --> 00:02:05.268 Now, timing. A review can take up to 10 business days. 00:02:05.268 --> 00:02:06.548 Can that be sped up? 00:02:06.548 --> 00:02:12.628 Yes. Expedite is $50 for 24 hours and $100 for same day. 00:02:12.708 --> 00:02:17.748 There are quicker options for two hours or one hour, and those cost more. 00:02:18.349 --> 00:02:20.749 Do I send my operating agreement to LARA? 00:02:20.749 --> 00:02:25.469 No. You keep it with your own records, and there's no state fee. 00:02:25.469 --> 00:02:27.629 What if I skip it? 00:02:27.629 --> 00:02:32.029 Michigan's default LLC rules then decide things like how profits are split. 00:02:32.242 --> 00:02:37.549 So write yours down. Who owns what, who makes decisions, and what happens if a 00:02:37.595 --> 00:02:39.469 member leaves. 00:02:39.976 --> 00:02:42.536 Next, the federal tax number. 00:02:42.536 --> 00:02:48.936 Apply for your EIN free with the IRS at IRS.gov, once LARA has filed your 00:02:48.989 --> 00:02:49.576 Articles. 00:02:49.576 --> 00:02:50.856 Is it quick? 00:02:50.856 --> 00:02:55.336 If the online application is approved, the number is issued right away. 00:02:55.512 --> 00:03:01.496 Have the Social Security number or ITIN of the person in charge on hand. 00:03:01.496 --> 00:03:03.576 And the beneficial ownership report? 00:03:03.576 --> 00:03:07.016 Skip it. FinCEN no longer requires one from U.S. 00:03:07.072 --> 00:03:07.576 companies. 00:03:08.836 --> 00:03:10.196 What do I owe every year? 00:03:10.196 --> 00:03:14.116 An annual statement, filed online with LARA by February 15. 00:03:14.276 --> 00:03:16.196 The fee is $25. 00:03:16.196 --> 00:03:17.956 Can I mail it in? 00:03:17.956 --> 00:03:21.396 Not anymore. Paper statements are no longer accepted. 00:03:21.972 --> 00:03:23.876 What if my LLC is brand new? 00:03:23.876 --> 00:03:28.676 If you formed after September 30, you skip the very next February. 00:03:28.676 --> 00:03:30.516 And if I forget? 00:03:30.516 --> 00:03:36.436 Miss two years in a row, and after a notice your LLC loses its good standing. 00:03:36.576 --> 00:03:39.316 Its name also becomes available to others. 00:03:39.460 --> 00:03:45.076 Restoring it costs $50, plus $25 for each statement you missed. 00:03:46.297 --> 00:03:47.737 What's the do-it-yourself total? 00:03:47.737 --> 00:03:51.657 $50 to form, then $25 every year. 00:03:51.697 --> 00:03:53.497 The EIN is free. 00:03:53.497 --> 00:03:55.577 And if I reserve a name first? 00:03:55.577 --> 00:04:00.857 That's $25 more, so $75 to reserve and form. 00:04:00.857 --> 00:04:03.817 So for most people it's $50. 00:04:03.817 --> 00:04:09.497 Yes. Add the $25 annual statement from the following year, and your first two years 00:04:09.524 --> 00:04:11.657 of state fees are as simple as that. 00:04:13.128 --> 00:04:14.648 Walk me through the order of things. 00:04:14.648 --> 00:04:17.848 Start with the name search and, if you like, the reservation. 00:04:18.008 --> 00:04:22.888 Then line up your resident agent, because Article 4 needs one before you can file. 00:04:22.888 --> 00:04:24.008 Then the filing? 00:04:24.008 --> 00:04:30.088 Yes. File Form 700 through the portal, and wait for LARA's review, which can take up 00:04:30.141 --> 00:04:32.328 to 10 business days if you don't expedite. 00:04:33.188 --> 00:04:34.088 And the EIN? 00:04:34.088 --> 00:04:35.768 Right after the Articles are filed. 00:04:35.928 --> 00:04:37.848 Then write the operating agreement. 00:04:37.848 --> 00:04:40.328 When does the first annual statement come due? 00:04:40.328 --> 00:04:46.728 By February 15. But if you formed after September 30, you skip the very next one, so 00:04:46.776 --> 00:04:49.368 your first statement lands a year later than you might think. 00:04:49.368 --> 00:04:51.048 Can I file it early? 00:04:51.048 --> 00:04:55.848 The deadline is what the state publishes, so plan around February 15 and set a 00:04:55.892 --> 00:04:57.208 reminder for January. 00:04:59.234 --> 00:05:01.274 You keep saying good standing. 00:05:01.330 --> 00:05:02.515 What is that, practically? 00:05:02.515 --> 00:05:06.594 It means the state sees your LLC as current on its filings. 00:05:06.647 --> 00:05:09.314 In Michigan, that comes down to the annual statement. 00:05:09.314 --> 00:05:11.154 And losing it is serious? 00:05:11.154 --> 00:05:17.394 It can be. After two missed years and a notice, the LLC loses its good standing, and 00:05:17.434 --> 00:05:19.394 its name becomes available to others. 00:05:19.847 --> 00:05:22.434 So the name you worked on could go to someone else. 00:05:22.434 --> 00:05:29.314 Yes. And restoring costs $50, plus $25 for each statement you missed. 00:05:29.634 --> 00:05:32.434 Filing on time costs $25. 00:05:32.434 --> 00:05:33.874 That math is easy. 00:05:33.874 --> 00:05:40.594 It is. Two missed years would mean $50 plus $50 to restore, which is 00:05:40.654 --> 00:05:45.794 $100, compared with $50 for two statements filed on time. 00:05:46.541 --> 00:05:48.861 Why spend time on the agent when the form is short? 00:05:48.861 --> 00:05:51.501 Because it's the part that touches you every year. 00:05:51.648 --> 00:05:55.501 Legal papers for your company go to that agent's address. 00:05:55.501 --> 00:05:57.181 So reliability counts. 00:05:57.181 --> 00:06:02.141 It does. You want someone staffed at a Michigan street address, not someone who 00:06:02.181 --> 00:06:03.181 might be out of town. 00:06:04.196 --> 00:06:06.061 And if I use my own address? 00:06:06.061 --> 00:06:08.781 You can, if you're a Michigan resident. 00:06:08.925 --> 00:06:11.181 Just know it goes on the public record. 00:06:12.351 --> 00:06:14.751 Suppose I want this handled for me. 00:06:14.751 --> 00:06:17.151 Here are the three best ways to file in Michigan. 00:06:17.300 --> 00:06:24.191 Number one, our pick, is Mainstay Filing, $199 a year plus the state fee. 00:06:24.335 --> 00:06:29.151 With the $50 state fee, checkout comes to $249. 00:06:29.151 --> 00:06:30.911 What's inside that price? 00:06:30.911 --> 00:06:36.351 Your Articles filed, your EIN application, and your resident agent every year. 00:06:36.538 --> 00:06:39.472 It renews at the same $199. 00:06:39.472 --> 00:06:40.672 And the annual statement? 00:06:40.672 --> 00:06:45.792 In Michigan, Mainstay prepares and files it by February 15 every year. 00:06:45.952 --> 00:06:48.832 You pay only the $25 state fee. 00:06:48.832 --> 00:06:50.032 Who's second? 00:06:50.032 --> 00:06:56.992 MI Registered Agent.org. It prepares and files your Articles for $199 plus 00:06:57.032 --> 00:07:02.432 the state fee, with your first year of registered agent service free, then $99 a 00:07:02.496 --> 00:07:02.832 year. 00:07:02.832 --> 00:07:03.232 Third? 00:07:03.232 --> 00:07:09.472 Michigan Registered Agent.co. Same deal: $199 plus the state 00:07:09.572 --> 00:07:14.512 fee, a free first year of agent service, then $99 a year. 00:07:14.512 --> 00:07:15.632 How do I decide? 00:07:15.632 --> 00:07:21.152 If you'll file your own annual statement each February, numbers two and three cost 00:07:21.248 --> 00:07:25.552 less from year two, at $99 a year for the agent alone. 00:07:25.692 --> 00:07:29.152 The $25 state fee is the same either way. 00:07:29.392 --> 00:07:33.792 If you want the agent and the statement handled together, that's Mainstay. 00:07:35.497 --> 00:07:36.857 Give me the three-year view. 00:07:36.857 --> 00:07:42.377 Mainstay is $199 a year, so $597. 00:07:42.397 --> 00:07:49.257 The other two are $199 in year one, then $99 in each of the next two years, 00:07:49.337 --> 00:07:51.897 for $397. 00:07:51.897 --> 00:07:54.297 So $200 apart. 00:07:54.297 --> 00:07:59.337 Right. And in Michigan, that gap pays for the annual statement being filed for you. 00:08:00.670 --> 00:08:02.430 Can you run the whole thing one more time? 00:08:02.430 --> 00:08:08.910 Choose a name with LLC in it, name a resident agent at a Michigan street address, 00:08:08.974 --> 00:08:14.990 file Form 700 for $50, write an operating agreement, get your free 00:08:15.150 --> 00:08:21.230 EIN, and file your $25 annual statement by February 15 every year. 00:08:21.230 --> 00:08:26.590 The links to all three services and every official source are in the show notes. 00:08:26.647 --> 00:08:30.430 Thanks for listening to The Business Formation Podcast, and good luck with your new 00:08:30.483 --> 00:08:31.870 Michigan LLC.