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hey guys today i'm going to be showing you guys how i registered my llc in michigan so the first thing you want to do is open your browser of course michigan.com so as you can see we are forming a new entity so you want to click here so you want to click on 700 articles of organization and article 1 the business name will go here so whatever you want to name your business but you have to make sure that the business name is available so you can check on this site so usually they want you to put loc at the end so i'm going to put beauty llc that's the name i'm going to pick for now and then for article 2 you only change that if you want to change the rules and regulations that were organized in 1993 so you can look more into that if you want to you can leave that blank because that's what i did and then for article three um you only put something here if your business or your entity is going to be around for a couple months or so so usually contractors will put in like a date for this so yeah only use that if you're going to be in business for a short period of time for article 4 you're going to put your agent name so basically your cpa um i don't have a cpa yet but whatever you have if you're using one then you can put theirs their name in their address or like i said if you're just doing it yourself then you can put your name and address so you'll go ahead and fill that out and then the same for the mailing address you'll put in your po box if you have one and then you gotta type in so for article 5 um the effective date so you're going to put in the date you want your business to be effective so if it's later down the road then put in a date but you have to put in something so if it's today's date you can put in and then for article six um once again it's kind of like the other one we just talked about so you insert something if you want to add additional provision to this app you'll have to put something here as well so if you don't want to change any if you don't want to change anything then you can put and then here you're going to need to put your signature yep you'll be the organizer so we've got that and then you accept and if there's more than um one person in your business then you're gonna keep putting add new entry to this list so then you're gonna put in your contact information here and then you can do email or mail and then you can pick you know if you want 24-hour review you can but you have to pay for those if you just want a standard review then um that's free and honestly they get back to you pretty quickly so but if you're in a rush then the other ones will be fine so then you click review obviously i didn't put in all that stuff and then you submit it and that is how you register your llc in a machine so aside from you know registering your llc there's many more steps that you have to take as a business so okay so first you want to make sure your name is available because if it's not then you're not going to be able to register with your state so once your name is um you pick a name that's available and that you like then you register your llc then you want to make sure you create and operate an agreement it's a contract between you and your loc so like if anything happens with your business like if someone tries to see you then you're you have that operating agreement to help you out and also show the people that you know this is how you run your business this is this is what happens if this happens so all of that stuff you also want to apply for your ein number next which is important it's basically like your um your business social security number after that once you have like your llc register and you get your paperwork back and your ein number then you can go ahead and sign up for your business bank account that is important because you always want to keep your business separate from your personal you don't want to intermedial intermingle like funds or anything you want to keep those things totally separate so if you were to get sued once again you're not they can't say oh well this is you know her personal account so we could take that because she used it or she had her money sent here and there and blah blah like keep them totally separate the next thing you want to do is make sure you have contracts in place for vendors so like if like for example my vendor would be this asian company um off alibaba that's the set i used to get my jars and once you set up that vendor account with them then you want to make sure you have a contract in place so if anything wants to happen then once again you're being responsible in taking care of your business and making sure nothing bad really goes wrong and after that you want to get your duns and bradstreet number you go to dunzimbrashtree.com and you sign up you register your business with that and they approve you so it's basically your business credit which is very important down the road because if you want to purchase something on your business credit then you're able to do so because you have good credit and now you can purchase a car for your business and etc so yeah thank you guys for watching and i hope you guys took away some key things that are going to help you and your business to excel please let me know if you have any questions because i may be able to send you videos that i watch
Thanks for your comment Harland Bartos, have a nice day.
- Annalisa Stahler, Staff Member
hey guys welcome back to the channel so a question that i get all the time is charlie what is the best way to start an llc so in this video i'm going to show you the best easiest and most affordable way to start your llc today this is exactly how i've created my business entities and it's crazy because you guys can literally set up your llc in like five or ten minutes so the first part of the video is me just going over what llc's are and why they may be beneficial to you as an entrepreneur or small business owner the second part is going to be me taking you step by step through inc file which is the website that i use to set up all my business entities so if you do want to skip directly to that part i will put the time code down below right now so without further ado let's get started so firstly what is an llc an llc is a type of business structure that stands for limited liability company it's perfect for startups and entrepreneurs and i always tell people if you want to take your business seriously it may be good to start an llc because there's so many benefits first of all they limit your personal liability what this means is that if your company gets sued they can't come after your personal assets creating an llc also allows you to raise capital from investors and of course they do carry some big tax advantages yeah diving a little bit more deeply into the whole limited liability part if your business does something wrong and they actually get sued by someone then only the assets that are inside that llc are at stake so this means that things like your house your cars and any other personal assets are safe that's where the term limited liability comes from now if you are creating a business and you are looking for outside funding llcs allow you to raise the outside capital and of course llcs can have very specific tax advantages rather than starting a c corporation which actually gets double taxed with an llc this is called a pass-through entity so you're only getting taxed one time now i'm not going to go into too many of the details about the whole taxation of llcs because you can be taxed as an lc or as an s corp but just know that when it comes to this tax stuff i recommend talking to your accountant and figuring out what works best for you yeah for 99 of you guys out there who are starting your own business i'd say an llc or an lc uh taxed as an s corp is going to be right for you it's very easy and affordable to set one up so in the next section i'm going to actually walk you through the whole setup process so i'm here in ink files main page you guys can get to this link by clicking on the link in the description below and what i'm going to do is i'm going to come up here and click start my business so it's going to take us this page where it's going to allow you to actually register your business entities so first i'm going to click entity type and i'm going to select which one i want we're going to be doing an llc and then you're going to select your state of formation so it's going to be a little bit different for each state but most of things are going to be the same i'm in california so i'm going to click on that here it's going to take us to the different i guess plans that they have so you have the silver one which is 75 this is basically completely free because you're only paying the state fee of 75 bucks no matter what you do you will have to pay the state fee so if you do want to you know not pay anything then you guys can choose this one and it's gonna come with pairing and filing the articles of organization it's going to allow you to do unlimited name searches and it's going to give you a free registered agent service for one year now that is not the most popular plan it's actually not the plan that i recommend so when i set up my business entities i always used the gold plan this one is a little bit more comprehensive and it just makes the whole thing a lot lot easier so especially if you're just doing this like this is your first time making a business entity then you know this one's probably going to save you a lot of time and headache so yeah this one is 224 and the package fee is 149 so that's basically what you're paying to inc file to set this up for you and then the state fee is about 75 which you have to pay this one's going to include the same things as the silver except it's going to actually automatically create an ein business tax number for you so that's going to save you some time it's going to file the irs form 2553 it's going to actually give you a bunch of these like documents like the operating agreement the banking resolution all these things are pretty cool to have and they just save you a lot of time so honestly in my opinion i think this one is probably the best for most of you if you're down to do all this stuff by yourself and figure it out then yes you can save that extra 149 package fee but as a business owner you want to focus on on building your business not all this really boring stuff and of course they have their platinum plan this is their most expensive plan but also most comprehensive this one's 374 dollars at the moment and that includes the package fee of 299 dollars and the mandatory 75 dollar state fee this one's going to be just like the gold plan except that you're going to have a little bit more support you're going to have expedited filing and you're going to get that domain name and business email so for this one i'm just going to go ahead and select the gold package because i think that's going to be the right one for a 95 percent of you guys watching this video so it's going to have you enter in your contact information as well as your mailing address so i'm going to do that right now but so after all that is entered in i'm going to click next it's going to process the information and now in the next section it's going to allow you to select your state filing time now the original time it takes for california is around four weeks it might change a little bit for depending on what state you guys are in but they are going to have an expedited filing option that you can add on as well so if i want to just keep the four weeks filing time with the estimated formation date that is right here then i can just select that or if i want the faster five day business filing time i can go ahead and select that so assuming that i don't care too much about the filing time then i'll select that but if you are in a rush then i would go ahead and select the faster one here it's going to allow you to enter in your company information so this is stuff that you'll want to at least brainstorm beforehand so i'm just going to enter in a biz entity prep services just as an example since i'm not actually setting up this llc right now then i'm going to select the designators so you can choose any of these does not matter but i'm just going to select this one and it's going to give you a preview of what your company name will display as so in this case biz entity prep services llc then it's going to have you select your business type or industry so for this one let's just say it's account acc
Thanks callacorazonj your participation is very much appreciated
- Annalisa Stahler
About the author
I've studied confucianism at Belhaven University in Jackson and I am an expert in ethnomusicology. I usually feel exanimate. My previous job was atm machine servicer I held this position for 5 years, I love talking about badminton and coding. Huge fan of Shaquille O'Neal I practice rugby union and collect military items.