Starting a business with partners can be fun, but complicated. Many entrepreneurs even recruit their family and friends as co-founders to get things off the ground. They tend to believe mob boss Michael Corleone’s assertion that “It’s not personal, it’s strictly business”. I disagree. Business can become deeply personal, especially when there are disputes or close […]
Tag: LLC
Michigan LLC Annual Statement Filing Requirements
Michigan Limited Liability Companies (LLCs) must file an annual statement with the Corporations Division of the Department of Licensing and Regulatory Affairs (LARA) every year to keep their business in good standing. In this week’s article, I discuss the requirements for filing Michigan LLC annual statements. Please note that this article does not discuss separate […]
Michigan LLC Formation Essentials
Before beginning your journey as a business owner, you should form a legal entity. Legal entities offer business owners liability protection to facilitate responsible risk taking in the marketplace. They also establish statutory and contractual guidelines that define your relationship with partners, employees, and customers. Entity selection is complicated and must be tailored to the […]