A Michigan Certificate of Restoration of Good Standing (Domestic LLC) is a document issued by the state of Michigan that certifies that an LLC is in compliance with all applicable laws and regulations, and that the LLC is currently in good standing. This document can be used to demonstrate that a domestic LLC is in full compliance with state requirements and is eligible to conduct business in Michigan. This certificate may be required for certain business transactions, such as applying for a loan, line of credit, or entering into a contract. There are two types of Michigan Certificate of Restoration of Good Standing (Domestic LLC): the Standard Certificate of Good Standing and the Expedited Certificate of Good Standing. The Standard Certificate of Good Standing is issued by the Michigan Department of Licensing & Regulatory Affairs and typically takes at least a week to process. The Expedited Certificate of Good Standing is issued by the Michigan Secretary of State and can be processed within 24 hours.
Michigan Certificate of Restoration Of Good Standing (Domestic Llc)
Description Michigan Certificate Of Good Standing
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Certificate Of Good Standing In Michigan Form popularity
Certificate Of Status Michigan Other Form Names
FAQ
The meaning of Certificate of Good Standing It serves as proof, or evidence, that the entity exists and is authorized to transact business in the state. Business entity laws vary among the states.
The State of Michigan requires you to file an annual statement for your LLC. You must file the statement each year by February 15. (The one exception is for new LLCs formed after September 30 of the preceding year, which don't need to file a statement on the February 15 immediately succeeding the date of formation.)
How much does a Michigan Certificate of Good Standing cost? The fee for a certificate of good standing is $10 for requests made online, by mail, or by phone. In-person requests cost $12.50 ($10 plus a $2.50 expedite fee).
ARTICLE II The purpose or purposes for which the limited liability company is formed is to engage in any activity within the purposes for which a limited liability company may be formed under the Limited Liability Company Act of Michigan.
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.
Michigan LLC Cost. Forming an LLC in Michigan costs $50?the state fee to file the Michigan Articles of Organization. You'll also need to pay a $25 annual report fee every year to keep your LLC active.
Michigan businesses are not legally required to obtain a certificate of good standing. However, your business may choose to get one if you decide to do business outside of Michigan or get a business bank account.