Michigan Turnkey recommends the standard business structure shown to the left for holding rental properties.
Using this structure, the investor sets up a single member Limited Liability Company (LLC), and this LLC owns the investor's rental properties.
This structure offers the liability protection given by the LLC, and it limits the need to file a tax return for the LLC because with a single member LLC, the income flows through the LLC to the investor.
Thus, this recommended business structure offers maximum liability protection without causing any undue tax burdens.
Business Setup Service
Michigan Turnkey now offers a Business Setup Service where we will:
- File for your Limited Liability Company (LLC) with the State of Michigan
- File for you Employer Identification Number (EIN) with the Internal Revenue Service
- Open your US bank account
- Provide 1st year of registered agent service
The cost of this service is $300, and it includes an initial deposit into your US bank account of $50, so your net cost is $250.
Additionally, at your request we can also provide recommendations for an attorney and/or an accountant for any tax or legal questions you have regarding your business setup.
Registered Agent Service
The State of Michigan requires your LLC to have a Michigan mailing address. If you are not located in Michigan we can offer registered agent services through your property manager. The registered agent service includes the following:
- Provides you with a Michigan mailing address
- Collects and forwards to you any mail received by your LLC
- Files your annual LLC filing with the State of Michigan
The cost of this service is $100 per year and this includes your annual filing fee with the State of Michigan.
Note: Your first year of registered agent services are included in the Business Setup service. Therefore, registered agent services will not be billed for until the second year.
Get Started Today
To get started we will simply need you to fill out the information below, and then we will take you to our checkout page where you can pay for the business setup package by credit card.
With this information we will prepare the documents for your LLC filing and begin the process. From start to finish it will take approximately 2-3 weeks to setup you LLC, EIN and US bank account. Of course if you have any questions, please feel free to email us at email@example.com