Registering a company in Michigan (USA) - YB Case 2024

Company registration in Michigan

Michigan (USA)

Michigan is a landlocked state with a population of about 10 million. The capital is Lansing. Michigan has a well-developed infrastructure.

Which industry should you focus on in order to register a company in Michigan?

We recommend starting an enterprise in Michigan in one of the priority areas for the economy: the primary sector (the agriculture, a mining) and the secondary (the industry) are of primary importance to the economy.

A mining plays an important role for Michigan. There are many ore deposits, and in the north and south they produce a natural gas/oil.

Michigan is one of the most important industrial states in the USA. It is a leader in the production of cars. Michigan's industry accounts for 27% of GDP.

The largest sector of services is tourism. This industry annually brings the state 6,3 billion US dollars

Legal forms, in which it is available to establish a firm in the USA

  • a Free Zone LLC;
  • an LLP Partnership;
  • SP;
  • Corporate Forms (C-Corp / S-Corp);
  • PLC
  • LLC;
  • RO (Representative).

Michigan tax rates

Each state has a federal corporate tax of 21%, Michigan also has to pay a local corporate tax of 8,93%, 7,15% for individuals, and 5,50% for sales. Deductions from % and royalties are 30%, dividends are 35%.

How to open a business in Michigan?

In order to register a company in the USA, you will need to perform the following steps:

  • offer a name, that is not repeated among firms indicating the legal form of the company;
  • an enterprise in Michigan may have an unlimited number of directors and shareholders. Being a resident, in this case, is not necessary;
  • the information about the company must be recorded in the register (open), tax reports are submitted annually.
  • a prerequisite is to open an account with a US bank.

YB Case specialists will provide individual advice on opening a corporate account with US Bank, will assist you in obtaining a US license for business activities in the state, and also provide support in registering a company in Michigan remotely, personal advice on how to arrange paperwork and open a company in America.

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