LLC, Business License, Incorporation
With the 19th largest population in the United States, Maryland services both large and small businesses. Maryland's major industries include transportation, raw materials, and government services. Regardless of your industry, we can help you take advantage of Maryland's business services.
If you are a business owner who has decided to incorporate in Maryland, The Company Corporation can assist. We will navigate the steps it takes to fully incorporate, ensuring paperwork has been completed and accompanied by payment. Researching the process can be time-consuming. Our team of experts is well-versed in the Maryland incorporation process.
General Maryland Incorporation Information
Incorporation affords business owners a layer of protection for their personal assets in the event a legal claim is levied against the business. Additionally, it gives business owners a means to create and protect intellectual property. Moreover, incorporation grants business owners the opportunity to offer stock options or equity to employees.
The State of Maryland also allows professionals to form what is called a professional corporation, or a PC. A professional corporation can be useful to groups of professionals such as attorneys, physicians, and accountants who choose to incorporate their practice.
Incorporating offers universal advantages. C Corporations and S Corporations offer separate, yet distinct advantages for businesses. Once you have determined which corporate designation best suits your business needs, the incorporation process can begin.
How to Incorporate in Maryland
To form a Maryland corporation you will need to create your company's articles of incorporation. These articles will cover areas such as naming corporate officers, the number of shares your company will issue along with their value, and your registered agent.
- Officers – It is necessary to list all the names and addresses of your company's officers listed in your incorporation forms. The State of Maryland requires that each corporation has a President, Secretary, and Treasurer. Your corporation will need to have at least one director. This director does not need to live in the State of Maryland. In addition, Maryland does not have any age restrictions for the director of your corporation. Each director's address will need to be listed in your articles of incorporation.
- Share of Stock – Once the number of shares has been determined, this number should not be changed during the filing process. A change in the number of shares can have an effect on filing fees.
- Registered Agent – The articles of incorporation must list your registered agent's name and physical address. The address of your registered agent must be in the State of Maryland and cannot be a post office box. It is important to have a service provider serve as your company's registered agent rather than a business owner or member of their organization serving in this capacity.
Finally, you will need to select a name for your corporation and register it with the state. This name cannot already be on file, nor can it be too similar to a corporation name already registered in Maryland. In addition, the name of your corporation must include either the word "Incorporated" or "Corporation," or an abbreviation of these terms.
Using parentheses in your company name is not allowed as it is seen as having two names for your business. Also, the name may not give the impression that the purpose of your corporation is different than what is stated in its articles of incorporation.
Forming a Maryland Corporation
Forming a Maryland corporation is a process that is easiest with the help of a professional. Incorporating on your own can lead to missed steps or paperwork that is incorrectly filled out or filed which can lead to delays or penalties against your business. The Company Corporation is knowledgeable and efficient in the various aspects of incorporating in Maryland. Our services include assistance in creating articles of incorporation and corporate bylaws and in researching appropriate and available business names.
In rare instances, The Company Corporation may be able to offer two-hour expedited formations to customers in Maryland; however, due to the sensitive nature of paperwork and details required, this is not always the case. The Company Corporation can expedite the corporate formation process in some states on the same day.
If you're ready to incorporate your business, call The Company Corporation today and let us help you.