Maryland Gov Business Express (2024)

FAQs

How long does it take to form an LLC in Maryland? ›

Once you have all the necessary information, the time it takes to start an LLC in Maryland can vary. After filing the Articles of Organization, the standard processing time by the Maryland Department of Assessments and Taxation is about four to six weeks.

In order to maintain Good Standing status, it is important that you file required annual reports and maintain compliance with any applicable Maryland laws. Failing to do so means your entity may be “Not in Good Standing,” which eventually leads to forfeiture.

Though Maryland does not require all businesses to obtain a business license, many types of businesses are required to get a license at a city or county level. LLCs are a type of legal entity and will still be required to obtain any appropriate business licensing depending on the type of work conducted.

To revive a Maryland LLC, you'll need to file the Articles or Certificate of Reinstatement with the Maryland State Department of Assessments and Taxation (SDAT). You'll also have to fix the issues that led to your Maryland LLC's dissolution and, in some cases, obtain a Maryland tax clearance certificate.

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.

An LLC has distinct advantages in the areas of legal protection and liability. While there are filing fees for setting up an LLC, that cost can be well worth it when compared to the thousands of dollars you could be liable for as a sole proprietor. On the other hand, it costs no money to start a sole proprietorship.

Do I need a DBA for my business? In most cases, no. You do need a DBA if you are using a business name other than your legal business name, or if you haven't registered your business and operate as a sole proprietorship or partnership.

If you believe your employer owes you $5,000 or less, you can file a case in small claims court for the unpaid wages. Small claims cases are heard by the District Court, and usually involve relatively simple court procedures.

“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.

An LLC will need an EIN if it has any employees or if it will be required to file any of the excise tax forms listed below. Most new single-member LLCs classified as disregarded entities will need to obtain an EIN. An LLC applies for an EIN by filing Form SS-4, Application for Employer Identification Number.

Do you need an EIN for an LLC in Maryland? ›

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.

This means that you could go through with the dissolution for free. However, the Maryland State Department of Assessments and Taxation does charge a $50 fee for expedited processing, should you decide to speed up the processing.

How long does it take to register a business name in Maryland? If you choose to register your business online, the process takes 5 to 7 business days. If you file by mail, it can take 6 to 8 weeks.

Cons: Unlike some states, Maryland requires LLCs to file an annual report. This adds administrative burden and costs, with an annual filing fee of $300 for domestic LLCs. LLCs must also file the pass-through entity income tax form (Form 510), meaning more paperwork.

How long does it take to get an LLC? If filed online, it may be possible to get your LLC formed in two to four business days. Otherwise, LLC papers submitted by mail often take two to several weeks to process.

All legal business entities formed, qualified, or registered to do business in Maryland MUST file an Annual Report: Legal business entities (Corporations, LLC, LP, LLP, etc.), whether they are foreign or domestic, must file a Form 1 Annual Report (fees apply) Credit Unions must file a Form 3 Annual Report (fees apply)