The legal business form of the LLC, or Limited Liability Company, offers the advantages of several other traditional business forms. An LLC has the same benefit of limited liability that a corporation does, but without being taxed as its own entity. Instead, it's taxed more similarly to a sole proprietorship or partnership. Also like corporations, LLC's may have as many shareholders, or members, as it likes. Unlike a corporation however, the death or bankruptcy of one of the members will dissolve the LLC. Limited liability has traditionally been a primary goal of many business forms, but since the legislature authorized it in Michigan, the modern LLC has become increasingly popular.

Can My Business Be Formed as an LLC?

In Michigan, a business can be formed using the form that it chooses. Opening an LLC just requires that the business founders file a form with the Secretary of State. However, some charge additional fees for the formation of LLC?s, and in Michigan there are certain laws that govern the actions of LLC?s. Applicable laws are a primary consideration in the decision of whether to organize as an LLC. The right business structure for your company might be difficult to find, but different structures can end up saving your company a lot of money.

Can I Change the Form of My Business to an LLC?

Under particular conditions, a business in Coopersville may change its form. Eligibility for conversion to a LLC is determined by Michigan law.

How Can an Attorney Help?

Attorneys experienced in Michigan business law can give you valuable input on whether your business would be more profitable as a LLC.