Michigan LLC Annual Report – File an LLC Annual Report in Michigan


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The objective of the annual report is three-fold. The annual report keeps the Government informed about all the updates, communicates about all the modifications or changes, & keeps the LLC members informed about the necessary taxes and costs. This article has all the information about Michigan LLC annual report filing in Michigan.

An annual report can be called an address book, as it features all the relevant addresses of the company & the members. This yearly report is a record of all the company’s activities in an entire year. It is also referred to as the Annual Franchise Tax Report because it helps in filing the franchise tax.

Contents of the Annual Report

Typically the annual report filed by a Michigan LLC (or any other business entity for that matter) will include all the information related to its business & members. The standard contents of the annual report  or the annual franchise tax report are

  • Office Address of the LLC
  • Names & Addresses of the Members & managers.
  • Identification Documents
  • Social Security numbers of the key members of LLC
  • The objective of the business of LLC
  • List of all the signatories of the LLC
  • Information of the registered agent, if any

Michigan LLC Annual Report

An Annual report is essential for all business types. It authenticates that the information provided to the Secretary Of the State is accurate & updated. The information provided in the annual report helps the State officials to ensure that all the companies pay taxes. The Michigan Annual Report is filed with the Michigan Department of Licensing and Regulatory Affairs.

Does the State of Michigan Require an Annual Report Filing?

In Michigan, every business entity has to file an annual report with the Department of Licensing and Regulatory Affairs. This includes all the legal entities such as C Corporations, Limited Partnerships, Limited Liability Companies, bound to file the Annual Report.

Annual Report Deadline

As referred earlier, filing the Annual report is a mandatory requirement even for an LLC. A Michigan  LLC has to file the Annual report with the Michigan Department of Licensing and Regulatory Affairs on February 15th every year.

Penalties for Non-filing or late filing

An Annual Report is one of the important documents filed by an LLC. If an Annual report is filed after the due date, the LLC will become delinquent. Further failure to file the report may lead to the dissolution of the LLC.

Why Do LLCs Have to File the Annual Report?

Some of the states are not required to file this yearly report, commonly known as the Annual Report. However, there are some reasons why states should file an LLC Annual Report. Here are some reasons,

To Maintain the Accuracy of the Information

An annual report filed by the LLC has all the updated information about its official addresses & the names or addresses of all its officials. This updated information allows the State authorities to track down any LLC when communicating.

To Provide the Correct Correspondence

Many times, any creditor or other entity willing to transact with the LLC requires the correct correspondence address. If this information (which can only be modified with the help of an annual report) is not updated every year, such entities will not be able to communicate with them.

To Notify the Government About All the Significant Changes

If you have changed your main business address or had new business appointments of managers or members, the annual public information report notifies the State Government Entities about it. So, the next time someone questions a newer reform that you have introduced in your LLC, you will be saved because you had submitted the information with the Government.

To Provide an Activity Log of an LLC

The Annual Report is like an activity log of the LLC. It brings on record; all the transactions, new associations, appointments, etc. & keeps those records intact for all future references.

To Help You With the One-time Filing of Taxes

The annual report is an excellent means to keep you on your toes in case of your dues payment. Every LLC must pay the taxes through the annual report filing. By filing the report on time, the LLC can manage the exemptions & can avoid penalties imposed by the Government. 

To Enable the State to Track the Payments

The government authorities use all the information filed through the annual report, for tracking the payment of State Taxes.

How to File a Michigan LLC Annual Report

The Michigan LLC Annual Report can be filed online, or it can be filed by mail. A Michigan LLC has to file the Annual report with the Michigan Department of Licensing and Regulatory Affairs on February 15th, every year.

Steps to File Michigan LLC Annual Report Online

Time needed: 5 minutes.

Below is the procedure to file the Michigan LLC Annual Report online.

  1. Visit Michigan’s Department of Licensing and Regulatory Affairs Website.

    To file the annual report in Michigan, you must visit the Michigan Department of Licensing & Regulatory affairs’ LARA Corporations Online Filing System.michigan-llc-annual-report

  2. Enter Your Customer ID number & PIN.

    In the boxes given on the page, enter your customer ID number & PIN.

  3. Submit the report.

    After signing in, fill in the required details & submit the report.

Filing Michigan LLC Annual Report By Mail

To file the LLC Annual report in Michigan, you can follow the steps as mentioned below,

  • Ninety days prior to the Annual report filing due date; the Licensing And Regulatory Affairs Department mails a pre-filled Annual Report form to the company’s registered agent. 
  • You can confirm or update the information mentioned in the form & mail it back to the Licensing And Regulatory Affairs Department at the address: Michigan Department of Licensing and Regulatory Affairs, P.O. Box 1150, Frankfort, KY 40602-1150

Michigan LLC Annual Report (Domestic & Foreign)

State Office:Michigan Department of Licensing and Regulatory Affairs,
P.O. Box 1150, Frankfort, KY 40602-1150
Links to Website, Form
Due Date:Annual reports are filed on February 15th every year.
Filing Fee:The Annual Report filing fee is $25.
Penalty:If an Annual report is filed after the due date, t the LLC will become delinquent. Further failure to file the report may lead to the dissolution of the LLC.
Filing Method:An LLC can file the Annual Report Online or by mail.
Forms:Forms
Important Information:Once a Domestic or Foreign Michigan Limited Liability Company submits the Annual Report along with the prescribed fees to the Michigan Department of Licensing and Regulatory Affairs, the filing is said to be complete.

Seek the Help of a Registered Agent

Every State will have a different rule for filing the Annual Report. Usually, it is submitted every year, but it is submitted once in two years in some states. Some states require the filing of the report only once in ten years.

Not only the timing, the mode of filing, the proper addresses, exemptions, legality, annual report compliance, etc., have to be taken care of while paying the taxes or filing any reports with the State authorities. In many such scenarios, it is advised that an LLC appoints a Registered Agent to manage all this. Check out the best LLC service that offers all the services at an affordable price. An experienced agent is required for:

  1. Streamlining the mandatory processes & filing.
  2. Sending or receiving any documents.
  3. Reminding you about important dates of filing or payment of taxes. 
  4. Simplifying the filing procedures.
  5. Avoid any penalties.
  6. Flexibility in working.
  7. Maintaining Privacy (as it keeps your personal records off the public record)

You can read more about a Michigan Registered Agent here.

How Fast Can I Fill Michigan LLC Annual Report

Deadline for filing annual reports in Michigan is February 15 each year. Failure to do so will result in delinquent LLC, and again failing will result in dissolution of LLC.

Every year, a Michigan LLC must file its annual report. This document is one of the most important steps in the business life cycle. Missing a deadline can cost a business up to $50. Fortunately, there are ways to expedite this process and get your document in much quicker.

Depending on your business’ structure, you can file the Michigan LLC annual report online, via mail, or in person. To file online, you need to create an account in the LARA Corporations Online Filing System (LOFS) and submit the form online. You can also hire a service, such as Active Filings, to file your Michigan LLC annual report for you.

The state of Michigan requires every Michigan LLC to file its annual statement by February 15. There is one exception to this rule: if the LLC was formed after September 30, it will not need to file its annual statement until the following February. In this case, the annual statement will be due on February 15, 2024.

The processing time for filing articles of organization is typically 10 to 15 business days, which translates to two to three weeks. If you miss the filing deadline, you’ll have to pay a $50 fee and lose your claim on the name of your LLC. However, you can still operate within Michigan and retain your limited liability protection.

The dissolution date is optional, but most businesses do not fill this out. If you have a business with investments, this is a good place to include additional rules about how your LLC should operate. You can also leave this blank if your LLC hasn’t been active for the past year.

Another important step in starting a Michigan LLC is to select a name. The name should be unique and distinguishable from other businesses. If you have a business name that is already in use, you can reserve it for a fee of $25. If you need to change the name of your LLC, you can also file an application for a name reservation.

If you have multiple members, you may wish to include operating agreements in your business. These are not required by state law, but they may be beneficial for you. The operating agreement will outline how the members will share the profits and losses of the business. Additionally, this document should include rules for buying out a member of the LLC. Make sure that each member signs the agreement and keep it with your other important documents.

Once you have decided to create a Michigan LLC, the next step is to choose a Registered Agent. This professional will help you streamline the mandatory processes, send you documents, and remind you of important dates. If you fail to file your annual report on time, you may lose your LLC’s status.

FAQs

Is it essential to file an Annual Report?

Yes, an annual report is essential for every business entity in most states. Some states also ask to file biennial or decennial reports to be filed.

What are the contents of the Annual Report?

A Yearly Business Report or the annual report typically incorporates the address of the business, names & addresses of the members, a list of all the signatories, SSN of the members, & details of the registered agent.

Why is hiring a Registered Agent necessary in filing the Annual Report?

A Registered Agent is well-aware of all the filing requirements, annual report filing fee, & overall Annual Report compliance. The knowledge & proficiency of the registered agent allows the smooth filing of reports & other fees.

What do I have to do for the annual business report preparation?

The most important thing for filing an Annual Report is record keeping. Make sure that you document every other transaction well.

Do the filing fees change as per the types of companies?

Yes, the fees may vary depending on the type of entity or the type of legal entity you are representing.

In Conclusion

An LLC has to file many types of reports, such as Application for Reinstatement, Periodic Report of a limited partnership (usually filed by the exempt nonprofit organization), etc., which are required depending on the type of entity. The Annual Report is mandatory irrespective of the entity type. It requires compliance across entities.

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