How do I renew my LLC in Michigan?
How do I renew my LLC in Michigan?
Filing the LLC Renewal Form You can file by mail if you include a check or money order, or you can file in person using a check, money order, or credit card featuring either the VISA or MasterCard logo. If you file by mail, be sure to add your corporation name and ID number and make it out to the State of Michigan.
How do I keep an LLC in good standing?
Annual LLC Checklist: 4 Simple Steps to Keep Your Business in Good Standing
- Maintain complete formation of the company with all necessary the supporting documents.
- Have an annual meeting and record the notes.
- Renew your LLC entity with the proper state authority.
- File all necessary state and federal tax filings.
What happens if you don’t pay Delaware LLC tax?
Failure to pay the franchise tax by the deadline will result in $200 penalty and interest charges assessed by the State of Delaware at the rate of 1.5% a month. It will also prevent the business from getting a certificate of good standing and may eventually lead to your business declared void by the State.
How do I dissolve a Delaware LLC?
Steps to Cancel a Delaware LLC
- Consult the LLC Operating Agreement.
- Take a Member Vote.
- Appoint a Manager to Wind up the LLC’s Affairs.
- Payoff Creditors, Current and Forseeable, before paying Members.
- Pay The Delaware Franchise Tax.
- Pay the LLC’s members.
- File a Certificate of Cancellation.
What is Delaware LLC Franchise Tax?
Delaware LLCs do not have to file an Annual Report (like Corporations do), but they do have to pay a flat-rate Annual Franchise Tax of $300 each year. The $300 tax must be paid by every LLC formed in Delaware, regardless of income or business activity.
What is the penalty for filing LLC taxes late?
In addition, the LLC is subject to a late-filing penalty of 5% per month (or part thereof) up to a maximum of 25% of the unpaid LLC tax and fee (if applicable) and a failure-to-pay penalty that begins at 5% and increases by 0.5% for each month the payment is late, up to a maximum penalty of 25%.
Do LLCs pay franchise taxes?
California imposes an $800 annual minimum franchise tax on typical LLCs (those not electing to be taxed as corporations). In addition to the $800 minimum franchise tax you’ll owe, if your LLC’s annual gross revenues exceed $250,000, you will have to pay an additional annual fee.
How do I pay my annual LLC fees in Michigan?
Enclose check or money order payable to the “State of Michigan” when submitting by mail, or pay with credit card when filing online.
