3 ms·
Sorry, I'm new to this whole thing... what is the $250 franchise fee? Is it federal or state and is it required for ALL LLCs or just DE? I'm looking to incorp
by tialys 18y ago
Sorry, I'm new to this whole thing... what is the $250 franchise fee? Is it federal or state and is it required for ALL LLCs or just DE? I'm looking to incorp. in Michigan with a buddy of mine, is this going to to screw us come tax time? We probably wouldn't make ANY money until next year at the earliest, in fact we'd have losses (web hosting).
- mechanical_fish 18y agoIt's a state fee and it varies by state. It can go by different names in different states. (In MA an LLC pays an "annual report filing fee" of $500 a year.) It can be different for LLCs and corporations. (In MA corporations pay only a $100 filing fee. Apparently somebody in Massachusetts does not like LLCs.) Ask a Michigan accountant.