How to Form an S-Corporation in Michigan
Home of the Great Lakes, Michigan vastly contributes to forest-related industries, manufacturing, recreation, and tourism. Throughout Michigan’s history, the diverse backgrounds offered a cosmopolitan atmosphere, making the state a magnet for a broad spectrum of cultural activity.
When forming an S-Corporation in the state of Michigan, you must complete the following requirements:
- Select a business name according to requirements
- File all necessary articles of organization and submit filing fees
- Fulfill registered agent requirements
- Register your federal tax ID
- Complete annual reports
- Establish a director
Let Eco-fyle help you fullfil your business needs.
Select Business Name According to State Requirements
- Name requirement- Your name must include “Corporation,” “Company,” “Incorporated,” “Limited,” or an abbreviation of one of these words.
- Tip: Most corporations keep it short and sweet with “Corp” or “Inc.”
File Articles of Organization and Submit Filing Fees
- To start a corporation in Michigan, you must file Articles of Incorporation with the Department of Licensing and Regulatory Affairs (LARA).
- Filing Fee: $60.
- If you have more than 60,000 shares, the fee increases along with the number of shares.
- Processing Time: Standard processing takes 3 days for online filings and around 10 days for mailed filings.
- Need it faster? Expediting options are available.
- File online or in person and you could technically have your Articles processed in an hour or two for an extra $500-$1,000.
- Same day expediting costs $50.
Fulfill Registered Agent Service Requirements
- Include your Michigan registered agent (also called a “resident agent”) in your Articles of Incorporation.
- You have the option to be your own registered agent
- You would have to include your name and the street address where you would be available during business hours.
- This information would become part of the permanent public record of your Michigan corporation, available to any busybody or data seller interested in you or your business.
- Additionally, you must be regularly available at the address you list—not running errands or sitting in meetings.
- You would have to include your name and the street address where you would be available during business hours.
Register Your Federal Tax ID Number
- Not only does the IRS require corporations to have an EIN for federal tax filings, but you may need your EIN for local tax registration, license applications or even just to open a corporate bank account.
- You can get your EIN directly from the IRS for no fee.
Complete Annual Reports
- Annual Report Deadline: Corporations must file a Michigan Domestic Corporation Information Update with the Department of Energy, Labor and Economic Growth on or before May 15.
- Filing Fee: $25
- Processing Time: Turnaround time at the state is 10 business days.
- Signatures: Only company officers are authorized to sign annual reports. Emailed or faxed signatures are accepted.
- Filing extensions: Permitted. Filing extensions can be filed for two years.
Establish A Director
- Minimum requirements: Corporations are required to have one or more directors as well as a president, secretary, and treasurer.
- Director qualifications: The Articles of Incorporation or bylaws may prescribe the qualifications for directors. A director is not required to be a shareholder or resident of Michigan or the U.S. unless spelled out in the articles or bylaws.
- Appearance in articles: Not required. Directors’ names and addresses do not have to appear in the Articles of Incorporation.
- Director names and addresses are required to be Written consent: Permitted. Directors may act in writing in lieu of holding a meeting.
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incorporation. Request a consultation with one of our specialists!