It is possible to form an limited liability company in the State of Maryland.A resident can apply for a domestic limited liability company license to operate a business in Maryland.Proper documentation is important for establishing a business.
Step 1: You can choose your business name.
This is the most important part of the process.If you decide on a name, you should check to see if it is available with the search tool.L.L.C. is one of the following at the end of each business name.L.C. is a companyL C.
Step 2: You need to fill out the articles of organization.
The articles of organization are what you will need to fill out the application for.Make sure you fill in all the questions.The purpose address of the company must be in MD and not a PO Box, as well as the registered agent's name and return address.
Step 3: You can submit your articles of organization.
The articles should be sent by mail.Regular processing can take up to 8 weeks.If you fax completed forms with credit card payment information, they will be charged an expedited service fee.The filing fee is payable to the State Department of Assessments and Taxation.At the time of filing, you will have to pay $20 for a Certificate of Status and $1 for each page of your documents.The Charter Division of the State Department of Assessments and Taxation can be reached at 301 W.Preston Street in Baltimore, MD.
Step 4: Extra is paid for expedited service.
Expedited service should be completed within 7 business days if you don't want to wait 8 days.If you want your forms expedited, add $50 for each document.If you are in line before 4:30PM, you can hand-deliver documents.
Step 5: A registered agent should be appointed.
At the time of filing for Articles of Organization, a registered agent must be appointed.Any notice or demand that is served upon the company is designated by this person to accept legal process.The agent is in charge of sharing information with the company.The agent may be a Maryland citizen who is over eighteen.The agent needs a street address in Maryland.
Step 6: An operating agreement can be created.
It is recommended that you establish an operating agreement at the time of filing your articles.There is a sample operating agreement here.Details about company management and members should be included in the operating agreement.
Step 7: You can check your mail.
You will get a reply in the mail.The filing takes about 8 weeks without expedited service.
Step 8: You have to apply for an EIN Tax ID Number.
You will need to apply to the IRS for a tax id number if you think you will be opening a bank account under the name of your company.
Step 9: You have to apply for business licenses.
If you want to do business in the state of Maryland, you need to get a local or state license.The type of licensing you will be required to maintain depends on the nature of your company and location.
Step 10: You can file a personal property return.
The Department of Assessments and Taxation has a personal property division.This is an annual report on your business.The form can be found here.The instructions for filling out the form can be found here.Every year, the PPR is due by April 15.The filing fee is separate from the tax liability.The forms should be mailed to the Personal Property Division of the Maryland Department of Assessments and Taxation.The address is PO Box 17052, Baltimore, MD.