What is a purpose to Open an LLC in Maine?
Reason to establish an LLC in Main is to keep the assets and liabilities separate from personal. You can start an LLC in Main with one member only.
Open LLC as a Non US Resident
A Non US Resident can start an LLC in the Maine, without having a social security number with the New York Division of Corporations.
Requirement to Set Up LLC in Maine?
- A limited liability company is a business formed by an organizer who may, but need not be a member. It is a business entity separate from its members and liability is limited to the financial contribution.
- Limited liability companies are formed for the purpose of generating profit, while limiting taxes and liability. Limited liability companies have all the powers granted to a corporation.
- Limited Liability Companies are registered with the Secretary of State maine.
- File Maine LLC Name Search before filing to ensure the name is available to avoid any delay in filing process due to the rejection by the state.
- You can also Reserve Maine LLC Name if you are not ready to incorporate it now.
- The Certificate of Formation of LImited Liability Company must be filed with the state to register the Limited Liability Company in Maine.
- (A limited liability company name must contain the words “limited liability company” or “limited company” or the abbreviation “L.L.C.,” “LLC,” “L.C.” or “LC” or, in the case of a low-profit limited liability company, “L3C” or “l3c”
- The duration of the company if other than perpetual must be mentioned,
- The address of the initial designated office in or out of the State of Maine where the company conducts its business.
- Any other provisions not inconsistent with law, which the members elect to set out in the certificate of formation must be disclosed.
- Provide members' information, including name and address.
- Provide social security number of at least one member to apply for the employer identification number (Not applicable for a non US resident).
- Principal Office-REQUIRED: Include street number, street, city, state and zip code. (PO Box is not acceptable).
- Nature of business-Required: It is sufficient to state the purpose of the limited liability company is to engage in any lawful act or activity for which a limited liability company may be formed under the Maine limited liability company act.
- Maine LLC can be incorporated with one member only.
- Maine LLC can be Registered as a member managed or manager managed (See the difference below).
- The Maine Articles of amendment must be filed if there is any change in the business name or members of the LLC.
- Annual report must be filed to keep the ME LLC in good standing.
- Processing Time-You can check the state current estimated time to process your LLC application either online at InfoTaxSquare.com website or contact us.
- We have customized online form to file 24/7.
LLC’s may have as many managers/members as they wish:
Member Managed LLC:
An LLC that is managed solely by its members(s) (i.e. its owner(s)). An LLC member is an owner of an LLC; in other words, an LLC member is the equivalent of a corporate shareholder.
Manager-Managed LLC:
An LLC that is managed by at least one manager. An LLC manager is a person appointed by the LLC member(s) to manage the day-to-day operations of the LLC; an LLC Manager is the equivalent of a corporate director. LLC members may be appointed as an/the LLC manager.
Yearly Maintenance
An annual report is required to be filed every year in order to maintain a good standing status. The legal filing deadline is June 1st.
Opening Business Bank Account
You should open a business account to maintain your business activities.
A request to retrieve Filed Documents
You can always request to the state to retrieve a duplicate copy of your filed documents.
Workers Compensation and Disability Insurance
You are required to maintain the insurances for your employess (if applicable).
Filing Taxes
All single member or multi-members LLCs are required to file taxes with the Internal Revenue and Maine Revenue Services, State of Maine. You can also file LLC taxes as a Corporation or an S Corporation and you have to file an election with the IRS and the state (if applicable) for approval.
Basic Tax Filings
- Yearly Filing Form 1040 or Form 1065.
- Yearly Filing State and Local taxes(if applicable)
- Sales Tax Reruns if selling taxable products of licenses. Make your you have obtained a Sales and Use Tax Permit from the Maine Revenue Services, State of Maine.
- Payroll taxes and make sure that you have obtained registration to hire employee(s).
Useful Links:
https://www.maine.gov/portal/index.html
https://www.maine.gov/revenue/homepage.html
You can contact to our office for any question or reservation.
