Maryland Business Express (2024)

FAQs

What is the purpose of Maryland business Express? ›

Through Maryland Business Express, users can easily wend their way to government and community agencies, local educational and training organizations, and can connect with money saving incentive programs using federal and state tax credits.

“Forfeited” means the right of the entity to conduct business in the State of Maryland has been relinquished and it has no right to use its name. For domestic corporations, this also means that the business has no existence under the laws of the State of Maryland.

After you form a Maryland LLC, you may need to obtain a business license or permit. Your requirements are determined by the industry you are in and where your Maryland Limited Liability Company is located.

File your Maryland LLC's Annual Report every April 15th. You need to file it with the state every year. The Annual Report may be submitted on or before the due date.

Maryland LLC Cost. The main cost of starting a Maryland LLC is the fee to file the Maryland Articles of Organization, which is $100 by mail or in person or $155 for expedited online filing. Maryland LLCs also need to pay a hefty $300 annual report fee every year.

In Maryland, the necessary paperwork will depend on the business entity type. LLCs have to file the Articles or Certificate of Reinstatement form, while corporations have to submit Articles of Revival. Additionally, you will have to file all your missing returns and pay the corresponding fees.

First, check your status - Is your business “Active” or in “Good Standing”? ❏ Look up your business status at businessexpress.maryland.gov (instructions on page 3). To return your business to “Active” or “Good Standing” Status: ❏ File Annual Reports & Business Personal Property Returns due (instructions on page 4).

Normal processing will take the Maryland SDAT at least 8 weeks. You probably won't get your filing confirmation from SDAT for at least 10 weeks. Expedited processing is completed by the SDAT within 7 business days.

An EIN is required for LLCs that will have employees. Additionally, most banks require an EIN in order to open a business bank account. State tax identification number. Maryland requires a state tax identification number.

How much is an LLC license in MD? ›

Forming an LLC in Maryland costs $100, but there are additional fees to consider. All Maryland LLCs must file an annual report and pay a $300 annual fee. If your LLC owns, leases or uses personal property in Maryland, you must also file a personal property tax return.

Maryland LLC's provide the business owner(s) with similar protection to what large corporations enjoy, only for a smaller business. That means that your business can reap tax benefits and liability protections afforded to LLCs.

If you file as a C-corp or elect to pay state taxes at the entity level, your LLC is subject to Maryland's 8.25% corporate income tax.

Unless you are a grower or manufacturer, you may not offer for sale, sell or otherwise dispose of any goods within Maryland, without first obtaining a trader's license from the Clerk of the Circuit Court and opening a sales tax account.

Maryland Health Connection is our state's health insurance marketplace, where Marylanders can shop, compare and enroll in quality health coverage. Enroll online or find free in-person help at MarylandHealthConnection.gov.

It helps in maintaining the proper relationships between the parties. Business correspondence strengthens the business. It also helps in the internal communication. It makes communication within the organization more clear and precise.

Protect Maryland consumers by regulating the state's insurance companies and producers. Investigate complaints consumers have about their insurance coverage, including, but not limited to, life, health, automobile, and homeowners. License insurance companies and producers operating in Maryland.

Purpose: Purpose is the reason why your business exists. Most LLCs include a general purpose, one or two sentences indicating that the company is organized to pursue lawful business in Maryland. Address: This is the physical address of the LLC, usually the main business office.