Form a Maryland Corporation
What does it take to incorporate a business in Maryland? The process typically involves:
– Submitting Maryland Articles of Incorporation
– Obtaining a federal tax ID
– Applying for Maryland permits and licenses
– Arranging your first corporate meeting
Beginning your corporation is easy with Maryland Resident Agent Inc. We offer a comprehensive formation package at an affordable price. For only $325, we file and form your corporation, provide you with a year of resident agent service, and give you custom documents such as bylaws and initial resolutions. With our formation package, your corporation will be up and running in no time!
Speed and Efficiency: We ask you a few simple questions and then create and file your incorporation paperwork online.
Custom Documents: We know that the organizing documents of a corporation, such as bylaws and initial resolutions, are significant, and we’ve spent years developing incorporation documents that fit your business.
Transparent Prices: We believe in transparency. We tell you exactly what we offer and what we charge.
– A Full Year of Premium Resident Agent Service
– Expert Customer Support (Never an Automated Operator!)
– Immediate Access to Our Secure Client Portal
– Local Filers with Real Knowledge of Maryland Business
– FREE Electronic Delivery of Your Documents
– FREE Auto-Reminders for Annual Reports
– FREE Bylaws, Initial Resolutions and Other Custom Documents
– Option to add Trade Name (DBA) Service for your business for $125 plus state fees after completing your purchase. Just select “Trade Name Service” inside your client portal.
– Optional BOI Report Filing for only $9
Maryland Filing Fees
Our Formation Service Fee
One Year Resident Agent Service
We’re happy to form your corporation and provide you all the support you need to launch. If you’re curious about the details of the incorporation process, check out the walk-through guide below.
MARYLAND ARTICLES OF INCORPORATION:
To legally form your corporation, Maryland Articles of Incorporation are submitted to the Department of Assessments & Taxation. The Articles provide key information about your Maryland corporation, including the following:
Your Maryland corporation’s name must include one of these words or abbreviations: Corporation, Corp., Incorporation, Inc., Limited, or Ltd. You can see if your corporation’s name is available using the Business Entity Search on Maryland Business Express.
A general purpose is one or two sentences explaining why your business is incorporating. Most businesses simply state that they are incorporated to lawfully pursue business in the state of Maryland.
Your principal office is the physical address in Maryland that functions as a main business office. This is often where the CEO’s office is located. Your principal office can’t be a P.O. box.
Maryland Resident Agent
A Maryland resident agent accepts service of process and official documents on behalf of your corporation. States require resident agents because they need a reliable channel of communication with your business. This ensures you receive due process.
At Maryland Resident Agent Inc, providing resident agent service is what we do every day. With our address listed on public documents, you can keep your personal address secure. Let us deal with the junk mail and hassle that comes with a public address. Don’t miss an important document amid the clutter. Select our resident agent service for only $49 a year, with renewals always at the same low price.
Your Maryland corporation first creates or authorizes shares when submitting the Articles of Incorporation. Later on, at the first corporate meeting, these shares can be issued or distributed. In the Articles of Incorporation, you’ll list how many shares you’re authorizing and their par value. Par value is the share’s initial price, and typically the minimum price of each share.
You may need to pay an additional filing fee if one of the following is true for your corporation’s par value:
- Your corporation’s aggregate par value (the total price of all the shares) is more than $100,000.
- More than 5,000 shares of stock have a par value of $0.
For additional filing fee rates, contact the Maryland Department of Assessments & Taxation.
On the Articles of Incorporation, include the total number of directors for your corporation and the name(s) of who will serve as directors until at least the first corporate meeting.
An incorporator creates and submits Articles of Incorporation but doesn’t have to be a director, shareholder or anyone with interest in the corporation. We’ll be your incorporators if you sign up for our formation package. Incorporators provide their address and signature on the form.
Submitting Maryland Articles of Incorporation
For your Maryland Articles of Incorporation, you can download a paper form or submit online.
- $120 for standard processing (4-6 weeks)
- $170 for expedited processing (within 7 business days if mailed, same-day processing for filings hand-delivered during business hours)
Follow the steps below to submit online. Filings average 1-3 days to process but may take up to 7 business days.
- Visit Maryland Business Express
- Select “Register Your Business”
- Select “Create Account”
- Provide your name, phone number and email addresses
- Create a user name and password
- Click “Create a New Business Filing”
- Choose “Stock Corporation”
- Answer the questions on the screen
- Pay the $150 fee plus a service fee of either $3 (eCheck) or 3% (credit card or PayPal)
AFTER FORMING YOUR MARYLAND CORPORATION
Tax IDs, permits, licenses—these are just a few of the things your corporation may need after it forms.
Federal Tax ID
Corporations must get a federal tax ID. This ID, also known as an Employer Identification Number or EIN, is issued by the IRS. You can apply for an EIN from the IRS at no cost, or hire us to obtain one for your corporation when you hire us to incorporate your company.
Beneficial Ownership Information Report (BOI)
As of January 1, 2024 corporations registered in the US must complete a Beneficial Ownership Information Report to the Financial Crimes Enforcement Network (FinCEN) per the mandates of the Corporate Transparency Act.
- Corporations registered in the US in 2024: Due within 90 days of incorporation
- Corporations registered in the US 2024 or later: Due within 30 days of incorporation
- Corporations registered in the US prior to 2024: Due before January 1, 2025 (and no company applicant information required)
- Company Information: Legal business name, any tradenames or DBAs, Tax ID/EIN, and the jurisdiction of incorporation
- Individual beneficial owner/company applicant information: full name, date of birth, residential address, and a copy of an approved photo ID (such as a passport or US driver’s license)
Beneficial owners are those individuals who own 25% or more of the company, or those who play a decision making role like CEOs or board members. Company applicants are those who filed for formation on behalf of the company or directed the filing be made.
The BOI report is submitted securely to FinCEN online. Some highly-regulated companies are exempt from the BOI. There is no fee, and the reported information is not public.
Don’t want to tackle this on your own? You don’t have to. For just $9, we’ll take care of your BOI report for you.
Maryland Licenses & Permits
A variety of state and county licenses and permits are required for different categories of businesses. These permits can be viewed at Maryland Business Licenses.
Maryland Organization Meeting
The first meeting of a corporation is what the state of Maryland refers to as an “organization meeting.” The director organizing the meeting notifies the other directors of the time and location a minimum of three days prior. The purpose of the meeting is to elect officers, issue stock and adopt bylaws. We can help you with the bylaws—we include custom bylaws when you sign up for our formation services.
Maryland Corporation Annual Report
Every year, corporations are required to submit a report with the business’s most current information. The form for the annual report can be downloaded from the Department of Assessments & Taxation or submitted online using Maryland Business Express.
Due: April 15th each year
Cost: $300 (credits cards are charged a 3% fee as well)
Maryland’s Personal Property Tax Return (PPR) is a state tax that’s filed along with the Maryland Corporation Annual Report. This tax must be filed by any business that maintains a Maryland Trader’s License (sales license) or that owns, leases or uses personal property in Maryland. Personal property includes inventory, supplies, machines, furniture, phones and more. Intellectual property, registered vehicles, and real estate or property are not considered personal property for this tax return.
MARYLAND CORPORATION VS LLC
Corporations and LLCs share many of the same benefits, but corporations have the edge in a few key areas: investment security and reputation.
Easy, Secure Investment
Investors frequently show a strong preference for corporations over LLCs. In part, this is because investors understand corporations. Even those new to investing are typically familiar with the basics of buying and selling stocks—but may have no idea what it means to transfer membership in an LLC. Corporations can also offer guaranteed dividends on preferred stock. LLCs, however, offer no guarantees—they only distribute profits if profits are made.
Banks often prefer to lend to an incorporated business over an LLC. As superficial as it may seem, having an “Inc.,” or a “Corp.” at the end of your business’s name holds powerful sway. Similarly, corporate titles like “CEO” or “Director” carry a lot of weight, whether on a loan application or in a business negotiation. LLC titles like “Member” or “Manager” don’t have quite the same effect. When we think of corporations, our minds conjure up images of strong, powerful businesses. When we choose a corporate business structure, we’re choosing power and prestige.
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Incorporate with Maryland Resident Agent Inc, and we’ll take the hassle out of forming a new business. We’ll file your formation paperwork, provide you with resident agent service and give you everything you need—plus privacy, security and peace of mind! Sign up today!