Company Name | For LLCs in Michigan, the names must end with the word “Limited Liability Company,” “LC,” “LLC” or “L.L.C.” Other than the permitted purposes in the Articles of Organization, the name of the formed LLCs must not indicate other purposes. LLCs’ name must be unique from other domestic or foreign LLCs or limited partnerships, or currently reserved names. LLCs are not allowed to use the words “Bank,” “Industrial Bank,” “Deposit,” “Surety,” “Security,” “Trust” or “Trust Company” | The corporation name must have the word “Corporation,” “Company,” “Incorporated,” “Limited” or an abbreviation thereof The name of the corporate must only indicate the permitted purpose(s) of the formed corporation in the Articles of Incorporation Corporations’ name must be unique from other domestic or foreign LLCs or limited partnerships, or currently reserved names. Corporations are not allowed to use the words “Bank,” “Industrial Bank,” “Deposit,” “Surety,” “Security,” “Trust” or “Trust Company”. |
Board of Directors | Managers & members’ names and addresses are not required to be listed in the Articles of Organization but either one of the managers or members must sign the Articles of Organization. LLCs must have at least one or more managers/members There are no requirements for managers & members’ age & residency. | There must be at least one or more directors/shareholders Residence requirements are not applied to the directors & shareholders. In Michigan, the directors must be at least the minimum of 18 years old. The names and addresses of the directors are needed to be listed in the Articles of Incorporation. |
Other requirement | Annual Report: Michigan LLCs required to file the annual report due on February 15. However, if the LLC is registered after September 30, the client may skip the first year Registered Agent: The name and physical address of the registered agent must be provided in Michigan with additional information about normal business hours to receive the business’s important legal documents. The state tax identification number is not required by the state of Michigan. Employer Identification Number (EIN): Most banks required an EIN to open a business bank account while it also required for LLCs with employees. | Annual Report: Michigan LLCs required to file the annual report due on May 15. Stock: In the Articles of Incorporation, corporations must list the authorized shares and par value. Registered Agent: The name and physical address of the registered agent must be provided in Michigan with additional information about normal business hours to receive the business’s important legal documents Employer Identification Number (EIN): Most banks required an EIN to open a business bank account while it also required for corporations with employees. |