The Michigan Limited Liability Company Act (Act 23 of 1993, as amended, MCL 450.4101, et. seq.) provides maximum flexibility for creating your business enterprise. Any rights, preferences, privileges, restrictions or other characteristics permitted within a corporation can also be given to a membership interest in an LLC. An LLC has the added benefit of permitting pass-through tax treatment (“partnership tax”) without having the restrictions against different classes of shares that apply to S Corporations. Whether a single member or multi-member LLC, we can design the governing documents to preserve your “limited liability” status and maximize your investment opportunities.

We have recommended LLCs for such various purposes as:

• Holding ownership of a rental property;
• Holding ownership of a family cottage;
• Holding ownership of a building company; and
• Holding ownership of a high risk chemical processing business.