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Starting an LLC in Maryland will include the following steps: #1: Name a Resident Agent. #2: Register Your Company Name. #3: File Articles of Organization. #4: Apply for a Business Identification Number. #5: Create an Operating Agreement.
Why Create a Maryland LLC? The state offers several business incentives, such as programs for women- and minority-owned businesses. In addition, numerous tax credits are available, including some aimed at specific verticals. Business owners can take advantage of these many programs to start and sustain their companies.
Maryland LLC's provide the business owner(s) with similar protection to what large corporations enjoy, only for a smaller business. That means that your business can reap tax benefits and liability protections afforded to LLCs.
Yes, you can be your own Registered Agent in Maryland as long as you meet the state requirements. (Unfortunately, most Registered Agent Services and LLC filing companies hide this information.)
Maryland LLC Cost. The main cost of starting a Maryland LLC is the fee to file the Maryland Articles of Organization, which is $100 by mail or in person or $155 for expedited online filing. Maryland LLCs also need to pay a hefty $300 annual report fee every year.
The $150 fee is a one-time fee. You don't have to pay any monthly (or annual) fees to start your Maryland LLC. You can save some money by filing your Articles of Organization by mail. The fee is only $100 if you file by mail, but the approval time is much slower.
Starting an LLC in Maryland will include the following steps: #1: Name a Resident Agent. #2: Register Your Company Name. #3: File Articles of Organization. #4: Apply for a Business Identification Number. #5: Create an Operating Agreement.
In Maryland, the fee to form an LLC is $100. Online submissions are processed within seven business days, while paper filings take four to six weeks. Paper filings can be expedited and processed within seven days for an additional $50. A certified copy of your document costs $20 plus $1 per page.