A Michigan Certificate of Conversion is a legal document issued by the state of Michigan that allows an existing entity, such as a corporation, limited liability company, or limited partnership, to convert into a different type of entity. There are several types of Michigan Certificate of Conversion: Corporation to Limited Liability Company (LLC), LLC to Corporation, Corporation to Limited Partnership (LP), LP to Corporation, and LLC to LP. The Certificate of Conversion must be signed by the authorized representative of the entity and filed with the Michigan Department of Licensing and Regulatory Affairs (LARA). The Certificate of Conversion includes information about the converting entity, such as the name, type, jurisdiction, and state of conversion. The Certificate of Conversion must also include the required documents, such as articles of incorporation or organization and the statement of conversion. The Certificate of Conversion is an important step in converting an entity in the state of Michigan.
Michigan Certificate of Conversion
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Once your Michigan LLC is approved by the state, you need to file Form 2553, Election by a Small Business Corporation, to get S corp status.
To Order By Mail: Complete form CSCL/CD-274. Address your request to: LARA, Corporations Division, P.O. Box 30054, Lansing, MI 48909. Payment: Make your check or money order payable to the State of Michigan. The mailing address is LARA, Corporations Division, P.O. Box 30054, Lansing, MI 48909.
If your Michigan LLC has lost its good standing, you can still do business in Michigan. However, you won't be able to file any other paperwork with LARA ? not even to dissolve your Michigan LLC. After two years, your Michigan LLC's name will become available for other businesses to use.
How do I get a Michigan certificate of authority? To obtain your Michigan Certificate of Authority, you will submit an Application for Certificate of Authority, along with required certificates or certified copies from your home state. You will need to appoint a registered agent in order for your filing to be approved.
However, you will have to pay the filing fee for Form 2553, and if your hire an attorney, you will incur legal fees as well. ContractsCounsel's marketplace data shows the average LLC to S Corp conversion cost to be $1,200 across all states and industries.
You can switch your limited liability company's (LLC) tax status to an S corporation, provided it meets the Internal Revenue Service's (IRS) requirements. You don't have to change your business structure, but you'll need to file a form with the IRS.
In general, you'll want to consider converting from an LLC, partnership or sole proprietorship to an S-corp when your profits are greater than the amount that you'd reasonably expect to pay in owner salaries.
In order to become an S corporation, the corporation must submit Form 2553, Election by a Small Business Corporation signed by all the shareholders. See the Instructions for Form 2553PDF for all required information and to determine where to file the form.