Starting an LLC in Maryland? Welcome to our Maryland LLC FAQ page!
Here, you’ll find answers to a variety of questions you may have, from business name selection to registered agent requirements.
Whether you’re a first-time entrepreneur or a seasoned business owner, our guide aims to simplify the LLC formation process in the Old Line State for you.
Maryland LLC FAQ
What Are the Steps to Form an LLC in Maryland?
The steps to form an LLC in Maryland are quite straightforward. You’ll need to choose a business name, appoint a Registered Agent, file Articles of Organization, and create an Operating Agreement.
After that, you should obtain an EIN from the IRS for tax purposes. You can find a detailed guide on the Maryland Department of Assessments and Taxation website.
What Are the Costs Associated with Forming an LLC in Maryland?
The initial cost to file Articles of Organization with the Maryland Department of Assessments and Taxation is $100 for standard processing.
Expedited service costs extra. Ongoing costs include annual report fees and possible publication requirements. A detailed fee structure can be found here.
Do I Need an Operating Agreement in Maryland?
In Maryland, it is not legally required to have an Operating Agreement, but it is highly recommended. The Operating Agreement outlines the internal workings of the LLC, including management structure and membership interest.
How Do I Get an EIN for My Maryland LLC?
After your LLC has been approved by the Maryland Department of Assessments and Taxation, you can obtain an Employer Identification Number (EIN) from the IRS. This can be done online, by fax, or by mail, and it’s free of charge. Learn how to get your EIN from the IRS website.
How Do I Maintain Good Standing for My Maryland LLC?
To maintain good standing for your LLC in Maryland, you are required to file an annual report with the Department of Assessments and Taxation and keep up with any state tax obligations. More information on how to maintain good standing can be found on the state’s website.
Maryland Business Name Search
How Do I Conduct a Business Name Search in Maryland?
In Maryland, you can conduct a business name search through the Maryland Business Express portal provided by the Maryland Department of Assessments and Taxation. The portal allows you to check the availability of a business name and ensure it is unique.
To begin your search, visit the Maryland Business Express Name Search page.
Are There Any Restrictions on Business Names in Maryland?
Yes, there are specific restrictions and guidelines when choosing a business name in Maryland. For example, the name must be distinguishable from other registered businesses and should not include words that could confuse it with a government agency. Moreover, certain reserved words may require additional documentation.
How Do I Reserve a Business Name in Maryland?
If you’ve conducted your business name search and found that your desired name is available, you can reserve it for up to 30 days by filling out a Name Reservation application.
This application can be submitted online through the Maryland Business Express portal and requires a nominal fee for the reservation.
Maryland Registered Agents
What is a Maryland Registered Agent and Why Do I Need One?
A Maryland Registered Agent is a person or entity appointed to receive legal notices, service of process, and other official documents on behalf of an LLC or corporation in Maryland.
Having a registered agent is a legal requirement for all LLCs and corporations in the state.
How Do I Choose a Registered Agent in Maryland?
When choosing a registered agent, make sure they are a resident of Maryland or a corporation authorized to do business in the state. The agent must have a physical address in Maryland, where they are available during regular business hours.
Online services are also available for hiring professional registered agents.
Can I Be My Own Registered Agent in Maryland?
Yes, you can act as your own registered agent in Maryland if you meet the state’s requirements, such as being a resident or having a physical office where you can be reached during regular business hours.
However, consider the responsibilities and availability required before choosing to act as your own agent.
