Individuals looking to create a new LLC within the state of Maryland, be it a new entity entirely or an in-state extension of a foreign LLC, will be able to do so online, and only online, via Marlyand’s entity portal Business Express. The cost of filing, foreign or domestic, is $150 in total. All filings must be completed in accordance with Title 4A of Maryland’s legal code which corresponds to LLCs. Below this text is a brief overview of the LLC creation process with appropriate links to our tutorials which go further in depth for foreign and domestic incorporation.
How to File
Step 1- Before even creating an account with Business Express all individuals looking to form a new LLC in Maryland are encouraged to perform a general check for the availability of their desired name. Maryland does not have a formal name availability check, nor do they have a formal system for reserving a name, but they do have a decent business entity search function which can be used to parse down options. This search will deliver results based on name alone, and thus it is not 100% effective, but it is a good starting point.
Step 2- Now that you’ve settled on a name for your new LLC you must create an account with Maryland’s entity portal Business Express. This account is absolutely mandatory for filing to create a new LLC, or any other viable entity, under Maryland law, and should only require a bit of your time to complete. Please see the tutorial, linked above, for more information.
Step 3- You may now embark on the actual filing process which consists, generally, of the submission of information properly identifying your LLC and the individuals responsible for operating it (if it is foreign) or who will, in the future, be operating it (if domestic), as well as the submission of documents which pertain to the legality of the LLC. Foreign LLCs will be required to submit a Certificate of Good Standing from their state of origin whereas domestic LLC hopefuls will be required to either submit or generate online, with help from the Business Express infrastructure, an Articles of Organization. Follow the link below which corresponds to your specific LLC intentions for a more in-depth tutorial.
Step 4- Once the filing process has been completed you will have to make a payment via the Business Express portal by either credit card or electronic check. Regardless of which type of LLC you are filing for the combined fees (expedition fees + filing fees) come out to $150 flat.
EIN – It is 100% necessary for all LLCs to have an EIN, or Employer Identification Number, in order to conduct any business within the United States. An EIN will essentially make you officially financial in the eyes of the federal government, and thus you will be able to complete financial maneuvers as complicated as merging or selling stock to those as simple as applying for a credit card. To acquire an EIN you can use the Online registration or the PDF Form SS-4.
Operating Agreement– In addition to the Articles of Organization (mentioned above) which are mandatory for LLC filing in Maryland, individuals or groups looking to form an LLC would be wise to draft a basic operating agreement to outline the financial and logistical structure of the LLC to serve as a black-and-white testimony in the case that any feature of the LLC comes under legal dispute from either within or without. Select the link above to access our operating agreement tutorial which contains templates drafted by our in-house lawyers, in both PDF and .doc formats, for this document.
Renewal– Maryland’s entities, like those in other states, need to file annually to remain in good standing, however unlike some other states this process has been folded into the overall state tax filing process, and thus it is completed with the tax filings at the same time as the tax filings. Select the link above to redirect to the Maryland DAT’s information page which spells out clearly who has to file and what it entails. For more information you may see the Maryland business checklist here.