How To Form an LLC In Maine
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1. Choose a Name for Your Maine Limited Liability Company
Check for an Available Name for the LLC in Maine: Before you can file to form an LLC in Maine, you need to have a name for your LLC that is unique. You should thoroughly search online databases and other records to find out if the name that you want to use for your LLC is available and not in use by another LLC in Maine. A searchable online database of Maine business entities is available on the official website of the Maine Secretary of State at Maine LLC.
Reserve a Name for Your Maine LLC: It is not a requirement to reserve a name before you file to form your LLC in Maine. However, you can reserve a name for your LLC before you file by submitting a name reservation application. You can download the application form here: Maine LLC. Your LLC name reservation will be active in the state of Maine for a period of 120 days. The fee is $20.00 to submit a name reservation application.
Filing for Trademarks Protection and Doing an LLC Name Search: There is a possibility that in your search of databases and other records in Maine that you find that the name that you want to use for your LLC is available in Maine but in use by an LLC in another state. There could be restrictions that affect how you can use the name that you have chosen for your LLC. You can find useful information about choosing a name for your LLC online at how to choose a name for your llc.
Maine LLC Name Requirements: When you choose the name that you will use for your LLC, remember that in Maine the name of your LLC must include the designation "LLC," “L.L.C.,” “LC,” “L.C.,” “Limited Company,” or "Limited Liability Company." It is helpful to keep in mind that the term “LLC” stands for “Limited Liability Company” and not “LLC Corporation, “Limited Liability Corporation,” or anything else related to a corporation. An LLC is formed differently than a corporation is formed.
2. Find a Registered Agent in Maine
Before you can file to form an LLC in Maine, you need to choose a registered agent. The registered agent that you choose will act as an agent for service of process and will receive tax documents, legal notices, and other official notices for your LLC. There are corporate service companies that provide registered agent services to LLCs and usually charge around $75.00 to $150.00 for these services.
3. File a Certificate of Organization with the Maine Secretary of State
Minimum Requirements for the Certificate of Organization: The Certificate of Organization that you file for your Maine LLC must contain the name of your LLC and the name and address of your registered agent. The Certificate of Organization must be signed by the organizer before you submit the document to the Secretary of State. You can download a form for the Certificate of Organization document online at Maine LLC.
Other Maine Legal Provisions: Consider including additional clauses along with the minimum requirements when you create the Certificate of Organization of your LLC. Consult a lawyer for guidance in including additional clauses that are most relevant to your company.
Where to Submit the Certificate of Organization for Filing: When you have completed your Certificate of Organization, submit the document to the Secretary of State, Division of Corporations, UCC and Commissions,101 State House Station, Augusta, ME 04333-0101.
Filing Fee: The fee to file a Certificate of Organization in Maine is $175.00.
4. Form a Maine Limited Liability Company Agreement (Operating Agreement)
After filing a Certificate of Organization to form your Maine LLC, the next step is to create an LLC Agreement that will govern all aspects of your LLC as well as the actions between the members of the LLC. All of the members of your LLC will need to sign the LLC Agreement. When you create an LLC Agreement, keep in mind that the details of the LLC Agreement depend on factors such as how many people are involved, how much money is being invested, how the money will be distributed, and whether the company will be managed by a manager or by the members of the LLC. Also keep in mind that LLCs that are formed for different purposes may have different needs in an LLC Agreement. For example, an LLC that will be used to operate a retail store may want to include different items in an LLC Agreement than an LLC that will be used to own and develop real estate. A lawyer and an accountant can provide guidance in creating an LLC Agreement that is in compliance with all state requirements and federal tax laws.
You should also get ready to make securities filings, obtain an EIN from the IRS, and obtain a business license in the locale where you will be conducting business. There are corporate services companies that make these kinds of filings for LLCs that you may want to consider using. For information on how to get a business license in your city, check out our online guide at http://www.cityapplications.com/business-licenses.html.
5. Qualify Your Maine LLC to Do Business in Other States
In most states, you need to register or qualify your LLC to do business there. You should realize that you need to register or qualify your LLC to do business in your home state if your main office is located outside of Maine. Also, you will most likely be required to pay taxes in your home state when you do business in other states. For information on qualifying your LLC to do business in other states, go to [Qualifying to Do Business in Other States].
6. Make Annual Filings and Pay Annual Taxes in Maine
You will need to file an annual report that is required of all LLCs in Maine. To file this report online, go to Maine LLC. The filing fee is $85.00. You will also need to file a tax report and pay taxes annually once you have formed your LLC in the state of Maine. To find information about the taxes that will apply to your LLC and to download tax forms, go to the official website of the Maine Department of Administrative and Financial Services at Maine LLC.
There are complicated decisions involved in forming an LLC in Maine. These decisions can be even more complicated when more than one person is involved. An accountant and an attorney can provide guidance during the process of forming an LLC so that you can feel more confident that an LLC is right for your company and that all your paperwork is being processed correctly.This article is for informational purposes and does not constitute legal, financial or tax advice. This information is derived from various sources and should not be relied on as an official source of information. All information should be independently verified. You should consult a legal or accounting professional before incorporating your business.
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This site is for informational purposes only and does not constitute legal, financial or tax advise. The information on this site should not be relied upon as an official source of information and should be independently verified.