Steps to Forming a Michigan Corporation
Information We Need From You to Start Your Corporation
1: Select a Name: Your company name must contain the word Corporation, Company, Incorporated, Limited or one of the following abbreviations: Corp., Co., Inc., or Ltd. (with or without periods).
2: Authorize Shares: An owner of a corporation is someone who owns shares of stock in the company. Michigan requires you to designate how many initial shares your corporation is authorizing. Generally, a corporation will authorize a small number of easily-divisible shares, say 100. At the first shareholders meeting, you would issue 51% of those shares to yourself, and the remaining 49% you can leave for future business partners. You are allowed to authorize both common and preferred stock. Most corporations issue only common stock.
3: Choose Management: Corporations are managed by their Directors. The Directors set all major company policy, determine salaries and bonuses, issue stock, and appoint the corporate officers (President, Treasurer, Secretary). Typicall, you’ll be the sole Director, and you’ll perform all the duties of all the corporate officers.
4: Remaining Info Needed to File:
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Purpose of business: the lawful business your company intends to pursue.
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Resident Agent: all lawful resident agents in Michigan are required to have a physical street address (no PO boxes). This is known as a registered office. Speedy filings come with one free year of Michigan resident agent service by Northwest Registered Agent. This service keeps your private home and office addresses out of the public records and fulfills your resident agent, mailing and principal address requirements.
Form Your Corporation Here Online
Steps to Forming a Michigan LLC
Information We Need From You to Start Your LLC
1: Select a Name: Your company name must include the words Limited Liability Company or the abbreviation L.L.C. or L.C. (with or without periods). If you want to see if your company’s name is currently available, you can do a Michigan business name search.
2: Membership: LLCs are owned by their members. Unlike a corporation, an LLC does not issue any stock. Instead, all members receive an ownership percentage. The percentage is usually in proportion to the amount invested by each member.
3: Choose Management: Typically, an LLC is managed by its members. The members generally take responsibility for setting company policy and overseeing the day to day operations. Sometimes, however, an LLC will opt to appoint a manager to run the business. Managers can be members or outside parties.
4: Remaining Info Needed to File:
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Business purpose: the lawful business your LLC intends to pursue.
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Duration: if you want your LLC to be dissolved at a specific later date, you can designate one, otherwise your company’s duration will be considered perpetual.
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Resident Agent: resident agents must maintain a physical street address within the state. This is called a registered office, and it cannot be a PO box. All of our Speedy filings come with one free year of Michigan resident agent service. This service will keep your home and office addresses out of the public record and fulfills the resident agent, mailing and principal address requirements.
Form Your LLC Here Online
Testimonials
“Your service was great. You gave me all the information I needed and it was nice not to have to worry about getting my tax information set up.” – Keon B., Howell, Michigan
“Your website made understanding the incorporation process a snap. Your order form was simple and my order was handled quick. Thanks.” – Caroline H., Detroit Michigan
“I would highly recommend your service. The level of quality cannot be beat. Thanks Speedy for all the help forming my business.” – Brian R., Belleville, Michigan
