What is a Michigan Corporation?
Michigan Corporation or Michigan INC, is a business formation registered with the Michigan Secretary of State. The Michigan Corporation will be able to issue shares of stocks to employees and investors, unlike an LLC in Michigan.
Michigan Corporation Requirements
- State Filing Fee of $60+.
- A Registered Agent located in Michigan. See our service here.
- Articles of Incorporation.
Michigan Corporation Structure
MI Corporations are structured legally with the Michigan Articles of Incorporation. Like many states, the document for a Corporation formation is short and simple.
The required information to be listed:
- Registered Office
When filing a Domestic Profit Corporation in Michigan, you must use one of the following words in the name: “Corporation”, “Company”, “Incorporated”, “Limited”, “Corp.”, “Co.”, “Inc.” or “Ltd.”.
In general terms, state the nature of the MI Corp. You may list the purpose as any lawful activity, but if you are an Educational Corporation, an in depth explanation is required.
The amount of authorized shares the Corporation can issue is to be listed and any different classes of shares need to be explained.
The name of the Resident Agent and the Registered Office will be listed. The Registered Office must be a street address that is not a PO Box. The mailing address may be a PO Box, though.
The names and addresses of Incorporators will be recorded on official public records. The address can be a residence or business location.
|Michigan Incorporation Facts|
|Formation Document||Articles of Incorporation|
|Filing Fee||$60 (minimum fee)|
|Government Agency||Department of Licensing and Regulatory Affairs|
|Our Fee||$205 (minimum, includes 1-year registered agent)|
|Same Day Expedite||$100|
|Two Hour Expedite||$500|
|One Hour Expedite||$1000|
|Annual Report Due Date||May 15|
|Annual Report Fee||$25|
How to File a Michigan Corporation
Steps to Form a Michigan Corporation:
- Select a Michigan Corporation Name: Choosing a name for your Michigan corporation is a critical first step. The name of your business must be different from all other names already on file with the Department of Licensing and Regulatory Affairs. Corporations must include a corporate designator in their name (Corporation, Company, Incorporated, etc.).
- File Articles of Incorporation: To form a corporation in Michigan, you file Articles of Incorporation with the Department of Licensing and Regulatory Affairs. The filing fee is based upon the number of authorized shares of stock (see below). There is an additional $10 nonrefundable service fee. The minimum total fee is $60. Articles of Incorporation can be filed in person, by mail or by fax.
- Appoint a Michigan Registered Agent: A registered agent must be designated on your Articles of Incorporation. The registered agent is responsible for acepting service of process and official business mail on behalf of your corporation. All agents must maintain a registered office within the State (a physical street location, not a PO box).
- Write Corporate Bylaws: After incorporation, you should compose your corporate bylaws, the guiding document of your corporation. Bylaws detail the specifics of the ownership of your business: the initial shareholders and their initial contributions, the rights and responsibilities inherent in their shares of stock. Bylaws also outline the management of the company: the Directors, the corporate Officers, annual meeting procedures, etc.
- Open a Corporate Bank Account: Your corporation will need a business bank account in order to process the monetary transactions of your company. To open an account, you will need to present to the bank, at least: copies of your Articles of Incorporation, corporate Bylaws, and an initial resolution authorizing the opening of the accounts.
- Submit an Annual Report: After you form a corporation, you will be required by state law to submit an Annual Report each year by May 15. The form can be filed online, starting 90 days before the due date. Paper submissions can be sent to the Department of Licensing and Regulatory Affairs. There is a $25 filing fee.
How Do I Calculate My Initial Incorporation Fee?
The filing fee for submitting Articles of Incorporation is based upon the number of authorized shares your company claims on the Articles. The fees as below:
|1 to 60,000 shares||$50|
|60,001 to 1,000,000||$100|
|1,000,001 to 5,000,000||$300|
|5,000,001 to 10,000,000||$500|
|Above 10,000,000||$500 plus $1000 for each additional 10,000,000 shares or portion thereof|
There is an additional $10 service fee added onto the charge for authorized shares. For example, if you authorized 75,000 shares, you would pay $110 ($100 for the shares and $10 for the service fee).
How Do I Fax Documents to the Department of Licensing and Regulatory Affairs?
To fax documents to LARA, you must first have a Michigan Electronic Filing account. You can apply for an account by submitting a MICH-ELF Application to LARA. The Application requires your credit card information, which will be kept on file for future payments. Once the application has been processed, you will be assigned a MICH-ELF Number.
When faxing documents to LARA, you will fill out a MICH-ELF Cover Sheet. You must include on the sheet your MICH-ELF number. You can fax the cover sheet and your filing document to: (517)-636-6437.
If you wish to expedite the filing, you must indicate on the cover sheet the expedite requested, as well as the expedite fee.
Faxed documents will utilize your credit card information you submitted on your Application.
Can I Email a Document to LARA?
Yes, if you have a MICH-ELF account on file. Emailed filings can be sent to firstname.lastname@example.org.
Michigan Registered Agent Service Requirements
A Michigan registered agent is required to meet the standards laid out by Michigan state law. All registered agents must maintain a registered office, which is a physical street address within the State. A post office box is not sufficient to meet this requirement. Registered agents must accept service of process and official business notices on behalf of their clients. When documents are accepted, the client must be contacted and the documents must be forwarded to the client in a timely manner.
A registered agent will become the main point of contact between your corporation and LARA. Annual Report notices will come to your registered office.
Michigan Annual Report
An Annual Report must be filed every year by all Michigan corporations. Corporations must file by May 15. The filing fee is $25. Annual Reports can be submitted online, or you may submit a paper copy.
Why Hire Corporate Filing Solutions to Form Your Michigan Corporation?
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