For business owners in Michigan, the decision regarding whether or not to incorporate their companies can be a tough one to make. As is true for just about anything, there are ups and downs to incorporation. For those who feel the good aspects of taking this step outweigh the bad, here is a brief overview of how to get started.
Changing a business from sole proprietorship or partnership to corporation status can be confusing, time consuming and expensive. It is possible to seek legal guidance to assist with the process and to ensure all legal bases are covered. The first step of incorporation is obtaining the proper forms and gaining access to a fee schedule. This can be done by contacting the appropriate state office.
Quite a bit of information will be required as part of the application process. The requested information will generally include the desired name of the corporation, location of the primary office location, information about all parties involved in the status change and a statement claiming the purpose of the organization. Further detailed information regarding how the corporation will be run may also be required.
After all of the required documentation has been submitted for approval, with the appropriate fee, — if accepted — an incorporation certificate will be issued. While filling out applications and paying a fee may sound simple enough, the smallest mistake can result in a request to incorporate being denied. For Michigan business owners who are considering making the move to corporation status, legal assistance is available to ensure everything is in order before submitting all necessary documents to the state, and to provide any further legal needs that will accompany this significant change.
Source: entrepreneur.com, “How–and Why–to Incorporate Your Business“, Accessed on April 29, 2015