A Michigan contractor operates as a sole proprietorship and wants to convert to an LLC. Which statement is most accurate regarding this conversion?
Correct Answer
A) A new contractor license application must be submitted for the LLC
When changing business entity types in Michigan, a new contractor license application must be submitted as the license is tied to the specific business entity.
Why This Is the Correct Answer
When changing business entity types in Michigan, a new contractor license application must be submitted as the license is tied to the specific business entity.
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