Incorporate your business in Maryland;
Our Incorporation information is to help you with the small
business startup process. The Maryland Incorporation info can
help answer questions like "How do I form an LLC in Maryland?"
or "What type of Incorporation entity should I be? An Maryland
S-Corporation or an Maryland C-Corporation?" or "What are the
requirements for an Maryland Corporation?" It's easy to set up
an Maryland Corporation with our Incorporation Software. It has
this and other Incorporation info right on the software. So
once you know, your ready to go!
Corporate Name Endings
The name must indicate the corporate status
and contain the word "Corporation," "Incorporated," "Limited,"
or an abbreviation thereof. The name may also contain or end
with the word "Company," which can never be preceded by the
word "and" or the symbol "&." Names shall not imply any purpose
that is not authorized by the charter. They shall not be the
same as, or deceptively similar to, the name of other domestic
corporations or limited partnerships, limited liability partnerships,
limited liability companies, qualified foreign corporations,
foreign limited partnerships, foreign limited liability partnerships,
foreign limited liability companies, or names registered or
reserved by any person or corporation.
Corporation Requirements
Director Information
Minimum Number - Not less than three, unless there
are only one or two shareholders of record; then the
number of directors may 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.
Officer Information
Officers are not required to be listed in the articles
of incorporation.
Stock Information
An increase in shares may cause an increase in initial
filing fees.
Corporate Records
The stock transfer ledger and the original or a certified
copy of the articles of incorporation must be kept at
the principal office of the corporation.
Tax and Fees
Annual Statements
Every business corporation shall submit an annual
report on personal property to the Department of Assessments
and Taxation. The Personal Property Return is due by
April 15th with an accompanying filing fee of $100.
Income Tax Rate
The income tax rate is 7%.
S Corporation
S Corporation status is recognized by the State of
Maryland. A separate state election from the federal
election is not required.
License Requirements
Maryland requires that you obtain a license and pay
a fee if operating certain types of businesses in the
state. The following is a partial list:
Barbers and barber schools
Certified public accountants
Construction
Counselors
Detectives
Electricians
Employment
Finance companies
Frozen dessert manufacturers
Hawkers and peddlers
Home improvement contractors and salespersons
Insurance
Lawyers
Pharmacies and pharmacists
Plumbers
Securities brokers-dealers
Please check with the state to make sure your business
is complying with the license requirements for your
particular profession.
