How to Incorporate a Business in Maryland (MD)
- Hire a lawyer to do the job for you (the most expensive option)
- Walk in to the State Department office and do it by yourself
- Use a professional incorporation company, like Active Filings.
Maryland Articles of Incorporation Requirements
- Company Name
The name must indicate corporate status. It must contain “corporation”, incorporated”, or “limited” or end with an abbreviation of one of these words.The name may also contain or end with the word “company” but never preceded by the word “and” or a symbol for it. Names shall not imply any purpose that is not authorized by the charter.
They shall not be the same as, or deceptively similar to, name of other domestic corporations or limited partnership, limited liability partnership, limited liability company; qualified foreign corporations, limited partnership, limited liability partnership, limited liability company; or names registered or reserved by any person or corporation.
- Company Purpose
List the reason for forming the corporation or the business/activity which the corporation will engage in.
- Authorized Shares
List the number of shares of corporate stock you are currently authorizing. Technically, this is when you “create” your stock (more can always be authorized later), and that stock will be issued to your shareholders at your first shareholder meeting.
- Registered Agent Information
In Maryland, a registered agent (also known as a resident agent) is an individual or business that serves as your company’s official point of contact for lawsuits and legal notices. As part of Active Filings’ incorporation service, we include a year of registered agent service when you hire us to incorporate your business in Maryland.
- Names and Addresses of the Incorporators
The incorporator is the person or company authorized to form the corporation. For example, if you hired us, we would list ourselves as the incorporator. The incorporator does not have any stake in or claim to the corporation being formed.
* Minimum Number – Three or more. If only one or two shareholders, the number of directors can be less than three but not less than the number of shareholders.
* Residence Requirements. – No provision.
* Age Requirements – None.
* Directors are required to be listed in the articles of incorporation.
* The officers are not required to be listed in the articles of incorporation.
* An increase in the shares may cause an increase in the initial filing fee.
* Annual Statements
* Every business corporation shall submit an annual report on personal property to Department of Assessments and Taxation. Annual return is due by April 15. Filing fee of $100 must accompany return.
Income Tax Rate
* The income tax rate is 7%.
For more information on taxes, visit www.state.md.us
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