If you are interested in doing business in the state of Michigan, then forming a Michigan corporation may be the right choice for you. A corporation offers several advantages such as limited liability protection and the opportunity to raise capital through the sale of stock. Here's a step-by-step guide to starting a Michigan corporation.

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Step 1: Choose a Name

The first step in starting a Michigan corporation is to choose a name for your business. Your name should be unique and distinguishable from other businesses in the state of Michigan. You can check to see if your desired name is available by searching on the Michigan Department of Licensing and Regulatory Affairs (LARA) website.

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Step 2: File Articles of Incorporation

Once you have chosen a name for your business, the next step is to file Articles of Incorporation with the Michigan Department of Licensing and Regulatory Affairs. This document outlines the basic information about your corporation, including the registered agent, business address, and purpose of the corporation. The fee for filing the Articles of Incorporation is $60.

Step 3: Appoint Directors

After filing the Articles of Incorporation, you must appoint a board of directors for your Michigan corporation. The board of directors will be responsible for making key decisions about the corporation and electing officers to manage the day-to-day operations of the business.

Step 4: Draft Bylaws

Your Michigan corporation must also have a set of bylaws which will act as a guide for how the corporation should function. The bylaws should include details about how meetings will be conducted, how new directors and officers will be elected, and what the duties and responsibilities of each officer are.

Step 5: Obtain Employer Identification Number (EIN)

In order to open a business bank account, hire employees, or pay taxes, your Michigan corporation will need an Employer Identification Number (EIN) from the IRS. You can easily apply online for an EIN at no charge.

Step 6: Register with the State of Michigan

In addition to the above steps, your Michigan corporation must also be registered with the state. This includes obtaining any necessary permits or licenses for your business, such as a sales tax license or professional license if applicable.

Step 7: Pay Taxes

Finally, your Michigan corporation must pay all necessary taxes to the state and federal government. This may include corporate income tax, sales tax, and payroll taxes if you have employees.

Conclusion

Starting a Michigan corporation can be a complex process, but the benefits can outweigh the effort. By following these steps, you'll be on your way to owning your very own corporation in the state of Michigan. If you need additional assistance in forming your Michigan corporation, don't hesitate to seek out legal and accounting professionals for guidance.

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