Here are the steps you should follow to form your LLC in no time!
Step 1: Choose a Name for Your LLC
Before officially filing paperwork with the state, you must first choose a name for your LLC. The name must be unique and cannot conflict with existing businesses or trademarks. You can check to make sure that your desired name is available by conducting a search of registered businesses on the Maine Secretary of State website. Additionally, all LLCs must end with one of the following words or abbreviations: “LLC”, “L.L.C.”, “Limited Liability Company”, or “Limited Company”.
Step 2: Appoint a Registered Agent
All LLCs are required to have a registered agent in order to receive official mail from government agencies and courts related to their business. The registered agent must be either an individual who has lived in Maine for at least one year or a business entity authorized to do business within the state. They are also responsible for receiving service of process if your business is ever served with legal papers such as lawsuits or subpoenas.
Step 3: File Articles of Organization
Once you have chosen a unique name and appointed a registered agent, you must file Articles of Organization with the Secretary of State’s office in Augusta, ME. The filing fee is $175 which must be paid by check made payable to ‘Maine Secretary of State’. Alongside this payment, you will need to include two copies of your Articles document which includes information such as:
- The names and addresses of each member
- The purpose of your company
- The registered address
- The names and addresses of any managers; -Signatures from all members or their representatives
- Authorization information concerning debts and other liabilities
- Whether members are allowed limited liability protection from creditors
- Any other additional requirements specified by law.. Upon receipt and approval by the Secretary’s office, your LLC will become legally recognized under state law.
Step 4: Obtain an Employer Identification Number (EIN)
You may need an EIN if you plan to hire employees or open up bank accounts under your LLC’s name instead of yours as an individual owner/member/manager/employee. An EIN is free when obtained through the Internal Revenue Service (IRS). This number allows you to identify yourself as an employer when filing taxes and establishing credit lines among other things related to operating a business legitimately within Maine borders..
Step 5: Create an Operating Agreement
An Operating Agreement outlines how day-to-day operations are handled among members including reporting procedures for meetings along with other topics like voting rights distribution when making decisions about company matters etc., It does not have to be filed with any agency but should still be kept on record as it serves to protect each LLC member if disputes arise later down the line..
Step 6: Comply With Additional Requirements
Aside from registering officially through Articles Of Organization paperwork filing fees etc., there are some additional requirements that companies will need to comply with before they can start operating fully in Maine.. These include getting licenses required depending on their industry including food services retail sales construction engineering etc., obtaining any permits needed by local authorities adhering to regulations imposed by zoning laws staying compliant with health safety guidelines paying fees associated with these permits, etc., Registering to pay sales tax if applicable depending on business type as well as filing yearly reports with the secretary of state office.. all businesses also have to submit a filed annual report to the state by april 15th each year..