MARYLAND | | Name | Must contain words Incorporated, Corporation, Company, Inc., Corp., Co., Limited Liability Company, Limited Company, Limited, Ltd., L.L.C., LLC, L.C. or LC. Fictitious business name fee is $11. | | Information about Directors and Officers | Company must have at least three Directors. If the Corporation has only one or two shareholders, the number of directors can be less than three bet not less than the number of shareholders. No age or residence requirement. It is required to list Directors, but it is not required to list Officers in the Articles of Incorporation. | | Requirements for address | Home address can be considered as company address. P.O. Box is not admissible. | | Registered Agent | Registered Agent is required if you do not live or have an office in Maryland. Otherwise, you can be your Own Registered Agent. | | Shares/Stock information | You can authorize up to 5,000 shares at no par value for the minimum initial tax of $20, or up to 100,000 at $1 par value stock. In this case tax will increase. | | Annual statement | Every business Corporation shall submit an annual report on personal property to Department of Assessments and Taxation. The Personal Property Return is due by April 15 with an accompanying filing fee of $100. | | State fees | $20 State filing plus $20 tax. Expedited is $30 more. | | Income tax rate | 7% on net taxable income. | | Franchise tax | No franchise tax. | | S Corporations | Status is recognized by the State. Separate State election from the federal election is not required. | | License requirements | Certain types of businesses must obtain a license and pay a fee if operating in the State. Check with the State to make sure your business is complying with the license requirements for your particular profession. | | Corporate records | The stock transfer ledger and the original or a certified copy of Articles of Incorporation must be kept at the Corporation's principal office. |
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For more information visit:
www.sos.state.md.us
www.dat.state.md.us
mlis.state.md.us