Located on the East Coast of the U.S., Maryland borders Delaware, Pennsylvania, Virginia, West Virginia and Washington, D.C. In fact, Maryland donated part of its land to form the U.S. capital in the late eighteenth century. Due to its location between many economically-strong states and Washington, D.C., Maryland currently boasts the highest household median income anywhere in the U.S.
If you want to start your own business in Maryland, one of the best ways to do so is by forming an LLC. Maryland Limited Liability Companies (LLCs) are a business entity designed for startups and small- and medium-sized businesses. Forming an LLC is fast, easy and inexpensive. LLCs offer many of the protections and advantages of large corporations without all the rules, regulations and compliance issues common to larger business entities.
Let’s start by looking at the advantages of forming a Maryland LLC.
Advantages of Forming an LLC in Maryland
Maryland LLCs have several benefits for business owners.
Start your Maryland LLC in Five Steps
STEP 1: Name Your Maryland LLC
STEP 2: Provide the Address for Your New Maryland LLC
A Maryland LLC must have a designated street address. That could be your home address (if you’re running the company from your residence), where your office is located or any physical address of your preference. It cannot be outside Maryland, and it cannot be a P.O. Box.
STEP 3: Assign a Registered Agent for Your Maryland LLC
Every Maryland LLC must have a “Registered Agent.” That could be you, the managing director, owner or a dedicated Registered Agent service. The Registered Agent in Maryland is someone who receives official legal and tax correspondence and has responsibility for filing reports with the Maryland Department of Assessment and Taxation.
In Maryland, Registered Agents are known as Resident Agents.
At Incfile, all of our packages include a Registered Agent service, which is free for the first year and just $119 per year thereafter. We also have a dashboard where you can log in and easily view any document your Registered Agent has received on your behalf. Here are a few reasons you might want to appoint Incfile as your Registered Agent service:
STEP 4: You Need to File Articles of Organization With the Maryland Department of Assessment and Taxation
Once you've gathered all the information together for your LLC, you’ll need to file a formal document with the Maryland Department of Assessment and Taxation to create your LLC. This document is known as your Articles of Organization, and filing it starts the process of creating your Maryland LLC. You can do this online, mail in a form or have Incfile do it on your behalf.
STEP 5: You Can Create a Maryland LLC Operating Agreement
Maryland LLCs aren’t required to have an Operating Agreement, but they are extremely useful for several reasons. Your Operating Agreement covers how the business will be run, how managers and members are chosen, the rights and duties of members and several other key areas. Learn how to create your Operating Agreement here.
If you’re interested in having your Operating Agreement created for you, Incfile will draft a general Operating Agreement within most of our online business formation packages. It can also be selected as an add-on option in our Silver package. This Operating Agreement will be a basic template that you can make changes to anytime you see fit.
You can find lots more useful information on how to form an LLC here. It answers questions like:
Incfile provides a cost-effective service to help you create your LLC. We guide you through the process and handle most of the administrative steps on your behalf, such as filing the Articles of Organization. Our basic package also provides free Registered Agent service for the first year. If you're looking for help starting an LLC, our comprehensive services provide outstanding value.
|State Fee||State Filing Time||Expedited Filing Time|
|$197||2 Weeks||3 Business Days|
This report is mandatory and must be filed within the specified time frame in order for the entity to remain in good standing with the state. Failure to file this report can lead to the company being revoked or administratively dissolved.
Due Date: April 15th
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EIN / Tax ID Number
Personalized Operating Agreement
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