Start an LLC in Maine in 5 Simple Steps
Step 1: Give Your Maine LLC a Name
Step 2: Select a Registered Agent.
Step 3: Submit the Certificate of Formation.
Step 4Create an Operating Agreement
Step 5: Obtain an EIN
It is simple to form an LLC in Maine.
To form a Maine LLC, you must submit the Certificate of Formation with the Maine Secretary of State for $175. You may submit your application via mail. The Certificate of Formation is the formal legal document that establishes your Maine Limited Liability Company.
STEP 1: Give your Maine LLC a name.
The first and most significant step in founding an LLC in Maine is selecting a business name. Make certain that the name you chose conforms with Maine naming rules and is readily searched by prospective customers.
1. Follow the naming conventions:
The word “limited liability corporation” or one of its acronyms must be in your name (LLC or L.L.C.).
Your LLC’s name cannot include terms that may be confused with a government organization (FBI, Treasury, State Department, etc.).
Restricted terms (e.g., bank, attorney, university) may need extra documentation and the participation of a licensed professional, such as a doctor or lawyer, in your LLC.
Your name must be distinct from any other Maine LLC, corporation, limited liability partnership, or limited partnership.
STEP 2: Select a Maine Registered Agent
You must choose a Maine registered agent for your Maine LLC.
What exactly is a Registered Agent? A registered agent is a person or corporate organization that accepts vital legal papers on your behalf. Consider your registered agent to be your company’s point of contact with the state.
Who is eligible to be a Registered Agent? A Registered Agent must be a Maine resident or a company, such as a registered agent service, that is permitted to do business in Maine. You may choose someone from your organization, even yourself.
STEP 3: Submit the Maine LLC Formation Certificate.
You must submit Form MLLC-6 – Certificate of Formation with the Secretary of State to register your Maine LLC. Only by mail can you apply.
STEP 4: Draft an Operating Agreement for a Maine LLC.
According to Revised Statutes Section 1531.1.B of the Maine legal code, LLCs must have an operating agreement. The operating agreement is known as the limited liability business agreement in Maine.
What exactly is an operating agreement? An operating agreement is a legal document that outlines an LLC’s ownership and running processes.
Why are operating agreements necessary? A detailed operating agreement guarantees that all firm owners are on the same page and decreases the likelihood of future disagreement.
STEP 5: Obtain an EIN for your Maine LLC.
What exactly is an EIN? EIN is an acronym that stands for Employer Identification Number. EINs are nine-digit numbers provided by the Internal Revenue Service (IRS) to companies to assist them be identified for tax reasons. It is basically a business’s Social Security number.
An EIN is also known as a Federal Employer Identification Number (FEIN) or a Federal Tax Identification Number (FTIN) (FTIN).
Why do I need an EIN? An EIN is necessary in order to:
Establish a business bank account.
Filing and managing federal and state income taxes
Employ people
What if my single proprietorship already has an EIN? When transitioning a sole proprietorship to an LLC, the IRS demands a new EIN.
