Do I need a lawyer to Incorporate in Maine? |
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The short answer is no.
The state of Maine does not legally require a lawyer to form a
Maine Corporation.
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The short answer is no.
The state of Maine does not legally require a lawyer to form a
Maine Corporation.
Our detailed Incorporation Information page may help you understand some
of the implications of forming a Maine Corporation.
However, if there is anything about Incorporating in Maine
that you're not sure about you should seek the advice of a competent Maine lawyer, a Maine accountant,
or both before you Incorporate in Maine.
Once you have made the decision to Incorporate in Maine, a Maine lawyer
can file your documents and act as a middle man for a few hundred dollars an hour; or you can use an online service provider like All Business Documents
to perform these services and save money that you can use in your new Maine Corporation.
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Do I have to Reserve a Company Name before I Incorporate in Maine?
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You are not legally required to reserve a Company Name for a new Maine Corporation before you submit your application to Incorporate in
Maine.
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You are not legally required to reserve a Company Name for a new Maine Corporation before you submit your application to Incorporate in
Maine.
Whether or not you need to reserve a company name for your new Maine Corporation depends entirely on your business situation.
The Maine Secretary of State uses names on a first come first served basis.
So if you think that someone may snatch the Company Name that you have in mind, you may want to reserve that Maine Company Name.
Click here for more information on
Maine Company Name Reservation
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What if the Maine Corporation Name I want is already taken?
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If the Name you have chosen for your new Maine Corporation is already in use by a currently active
Maine Corporation or LLC, and you still want to use that Corporation Name, then you will have to register a DBA Name with the Maine Secretary of State. "DBA" is an abbreviation for "Doing Business As."
We verify that the Name you have chose for your new Maine Corporation is available before we submit
your Incorporation filing to the Maine Secretary of State.
If necessary we can register a DBA Name in Maine for you so that you can open your new Maine business as quickly as possible.
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What do I have to do to Incorporate in Maine?
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8 things you have to do in order to Incorporate in Maine.
1. Choose a name for your Maine Corporation
2. Select an official address and a Registered Agent for your Maine Corporation
3. Choose a Board of Directors for your Maine Corporation
4. Decide who will be Officers for your Maine Corporation
5. Determine how you want your Maine Corporation to be taxed
6. File Articles of Incorporation with the Maine Secretary of State
7. Get a Federal Employer Identification Number (FEIN)
8. Issue Stock Certificates to the Initial Shareholders
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1. Choose a name for your Maine Corporation
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Your Maine Corporation name can identify the type of products and services your business will provide;
or it may be the name of the founder; or it can be a combination of the two or something else.
In any case, the Maine Corporation name that you choose must be distinguishable from the name of any other registered Maine Corporation or other
business entity and the name must also be different from any reserved names on record with the state of Maine.
Your Maine Corporation name must not imply that it was formed for a purpose other than that stated in your
Articles of Incorporation;
and your Maine Corporation name must not be a name that is likely to mislead the public.
The name of a Maine Corporation must include the word "Corporation" or
"Incorporated" or an abbreviation of one of these words.
It's important to choose a good name for your Maine Corporation because if you want to change it after you incorporate you
will have to file amended Articles of Incorporation with the Maine Secretary of State (and pay a fee).
We will:
- Check to make sure that your Maine Corporation name is available
- Make sure your Maine Corporation name conforms to state of Maine regulations
- Reserve your Maine Corporation name with the Maine Secretary of State
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2. Select an official address and a Registered Agent for your Maine Corporation
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Every Maine Corporation must have an address that is physically located in the state of Maine.
This address is "registered" with the Maine Secretary of State.
The Registered Address is where official and legal correspondence can be delivered.
The individual or company that is registered with the state of Maine to receive all correspondence on behalf of the Maine
Corporation is called a "Registered Agent".
You may act as your own Registered Agent, however, many Maine Corporations hire a Registered Agent because they don't have a physical
address within the state of Maine or to provide a distinct level of privacy.
- We can act as the official Registered Agent for your Maine Corporation.
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3. Choose a Board of Directors for your Maine Corporation
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All Maine Corporations are required to have a Board of Directors.
Directors are the people who will set policies for your Maine Corporation and manage the business and its resources.
In the majority of small corporations directors are the owners.
The Articles of Incorporation or Corporate Bylaws may define specific qualifications for Directors.
The Board of Directors is responsible for creating rules, approving budgets and distributing profits to shareholders.
One of the most important duties of the Board of Directors is electing Officers for your Maine Corporation.
The same person may be a Director and an Officer at the same time.
Directors need not be residents of the state of Maine or shareholders of the Maine Corporation unless the Articles of Incorporation
or Bylaws require it.
Normally Directors for your Maine Corporation are elected for a term of one year.
Elections are held at the annual meeting of Shareholders.
The Directors serve until the next annual Shareholders meeting.
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4. Decide who will be Officers for your Maine Corporation
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The Board of Directors elects Officers for your Maine Corporation in accordance with the Corporate Bylaws and Articles of Incorporation.
Officers serve at the pleasure of the Board of Directors of the Maine Corporation.
Officers handle the day to day operation of the Maine Corporation.
Unless specifically prohibited by the Corporate Bylaws or Articles of Incorporation, in a Maine Corporation
the same person may hold more than one Corporate Office at the same time.
However, there are certain legal affairs in which the same person cannot act in more than one capacity.
One Officer - usually the Secretary - is given responsibility for preparing Minutes of Directors and Shareholders meetings
and for authenticating records for the Maine Corporation.
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5. Determine how you want your Maine Corporation to be taxed
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The Maine Corporate Income Tax Rate is variable depending on the annual net income of the Maine Corporation.
Maine Corporate Income Tax Rates vary from 3.5 to 8.93%.
You may form an S Corporation in Maine.
S Corporations may "pass through" all corporate profits to the shareholders (owners) who then pay tax at their applicable
personal rate.
S Corporations do not pay any Maine Corporate Income Tax.
The Corporate Tax structure in the state of Maine consists of four tax brackets:
- 0 - $25,000 - 3.5%
- $25,001 - $75,000 - $875 + 7.93% of excess over $25,000
- $75,001 - $250,000 - $4,840 + 8.33% of excess over $ 75,000
- Over $250,000 - $19,418 + 8.93% of excess over $250,000
Click here for more Maine Corporate Tax Information .
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- If you choose to be taxed as an S Corporation, we can prepare the S Corporation election form for your Maine Corporation and include it with
your Incorporation documents.
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6. File Articles of Incorporation with the Maine Secretary of State
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In order to form a Corporation in Maine you must file Articles of Incorporation with the Maine Secretary of State.
The Articles of Incorporation must include certain specific information about your Maine business. If the Articles do not conform exactly to state of Maine requirements they will be rejected.
You may subsequently amend the Articles of Incorporation for your Maine Corporation but you will have to pay a fee to the state of
Maine in order to make the changes official.
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7. Get a Federal Employer Identification Number (FEIN)
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A Federal Employer Identification Number, also known as a Federal Tax Identification Number, is used by the IRS to identify a
business entity.
An FEIN is like a Social Security Number for your Maine Corporation.
All Maine Corporations are required to have an FEIN.
- We can obtain an FEIN for your Maine Corporation.
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8. Issue Stock Certificates to the Initial Shareholders
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Corporate stock is evidence of ownership of a Maine Corporation.
When you form your Maine Corporation, you will need to determine what type of stock and the number of shares of each type that
you want to authorize.
You do not have to sell the number of shares that are authorized.
Many small Maine Corporations hold 100% of the shares.
Stockholders in a Maine Corporation are entitled to voting rights or dividends of the Corporate profits or both.
Whoever owns over 50% of the stock of the Maine Corporation is able to make all Corporate business decisions.
Maine Corporations usually hold at least 51% of the corporate stock in order to retain control of the Maine Corporation.
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What do I have to do after I form my Maine Corporation? |
6 things you have to do after you Incorporate in Maine.
1. Conduct an initial Meeting of the Board of Directors and adopt Corporate Bylaws
2. Open a Business Bank Account in Maine for your ME Corporation
3. Obtain Business Licenses from the cities and counties in which you plan to do business
4. Hold Meetings of Shareholders and Directors of each year.
5. File the required Maine Corporation reports
6. Keep proper records of your Maine Corporation on file
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1. Conduct an initial Meeting of the Board of Directors and adopt Corporate Bylaws
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The Board of Directors holds an initial meeting to elect Officers, authorize issuance of stock and adopt the Corporate Bylaws.
Bylaws are the internal rules of your Maine Corporation.
They are adopted by the Board of Directors and vary widely from Corporation to Corporation.
Commonly bylaws include the number of seats on the board of directors; how Directors are elected; how meetings of Directors and
Shareholders are to be conducted; what Officers the Maine Corporation will have and a description of each of their duties.
As your company grows over time, you may amend your bylaws as necessary.
Bylaws generally cannot be amended by the Board of Directors unilaterally.
A vote by the majority of Stockholders of the Maine Corporation is usually required to amend the Corporate Bylaws.
Bylaws may include any rules for managing the business and conducting corporate affairs.
Almost anything may be written into the Bylaws, however, the Bylaws must not be in violation of any federal or Maine law or
the Maine Corporation's Articles of Incorporation.
A copy of the Corporate Bylaws should be maintained at the Corporation's principal Maine office.
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2. Open a Business Bank Account in Maine
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It's very important that you have a separate business bank account for your Maine Corporation.
Mixing personal and business funds can get you in a lot of trouble with the tax man down the line.
It's a good idea to contact the bank before you open a business bank account.
Specific requirements vary from bank to bank.
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3. Obtain Business Licenses from the cities and counties in which you plan to do business
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- We can research and prepare the necessary forms for your required business licenses and permits and include
them in your Maine Incorporation package.
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Note that forming a Maine Corporation doesn't take the place of obtaining a business license, tax
registration certificate, or other required business permits.
A Maine Corporation merely creates an ownership structure that limits the owners' personal liability.
You may still need to take care of getting set up to do business with your local government.
Depending on the nature of the business and the location of your Maine Corporation you may need to get one or more city
business licenses or permits.
The business licenses or permits that are required for your Maine Corporation vary depending on your business activities
and the specific locations within the state of Maine in which you want to conduct business.
If your Maine Corporation will be selling products in Maine you may be required to obtain a Reseller's Permit from the appropriate
Maine state agency.
If your Maine Corporation will be selling products in Maine you will also be responsible for all applicable local and state of Maine
sales taxes if there are any.
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4. Hold Meetings of Shareholders and Directors of each year.
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Every Maine Corporation must hold corporate and shareholder meetings, at least annually, and must keep minutes of each meeting
on file.
A copy of the minutes is evidence that the meetings took place and includes all resolutions that were adopted.
The minutes of each meetings must be open for inspection by any Shareholder or Director.
This meeting requirement is often overlooked and comes into play when the Maine Corporation is challenged for any reason.
Keeping proper meeting minutes and documenting resolutions made and approved by the Directors is a formality that could save your
Maine Corporation a lot of potential trouble.
- We can transcribe the minutes of any meeting of your Maine Corporation into a form that complies with all
state of Maine requirements.
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5. File the required Maine Corporation reports
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The Maine Secretary of State does not have any Initial Annual Report filing requirements for Maine Corporations.
The first Maine Corporation Annual Report must be filed with the Maine Secretary of State between January 1 and June 1 of the year following the calendar year in which the ME Corporation was approved by the Maine Secretary of State. | Every Maine Corporation is required to file an Annual Report with the Maine Secretary of State EACH year.
The Maine Corporation Annual Report is due at the Maine Secretary of State by June 1 EACH year. | | If the Maine Corporation Annual Report is not filed with the Maine Secretary of State by the due date then the ME Secretary of State will impose a late fee on the Maine Corporation. |
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We can fill out and file any Annual Report with the Maine Secretary of State after your Maine Business gets going.
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6. Keep proper records of your Maine Corporation on file
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Keep the following records on file and available at the principal business office of your Maine Corporation:
- Names and addresses of all Directors and Officers of the Maine Corporation
- Articles of Incorporation for the Maine Corporation and any Amendments to them
- Corporate Bylaws for the Maine Corporation and any Amendments to them
- List of current shareholders of the Maine Corporation.
If shareholders change, keep a record of old shareholders and how stock was transferred.
- Minutes of all Meetings of Shareholders and Directors
- Copies of any Corporate Resolutions which have been adopted by the Maine Corporation
- Copies of all tax returns and Annual Reports for the Maine Corporation for the last 3 years
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What information do I need in order to Incorporate in Maine? |
In order to Incorporate in Maine you'll need certain specific information about your new Company
including the Corporation name and address; and Registered Agent information.
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In order to Incorporate in Maine you'll need the following information about your new Company:
- The name of your new Maine Corporation along with your second choice of a name in case the name that you want is not available
- Physical addess of the Corporation office in Maine (not a PO Box)
- Name and address of your Maine Registered Agent (not a PO Box)
- A description of the nature of the business you are planning to operate with the Maine Corporation
- Names and addresses of the initial Directors of the Maine Corporation
- The number of shares of stock that the Maine Corporation will be authorized to issue
Remember - ALL the information that you provide when you Incorporate in Maine becomes part of the public record.
Our data entry forms include the absolute minimum amount of information that is required in order to Form a new Corporation in Maine.
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How long does it take to Incorporate in Maine? |
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Processing times for new Maine Corporation applications vary depending on the work load of the
Secretary of State's staff.
We've found that normal processing of new Maine Articles of Incorporation takes the state around 3-4 business days.
Add 2-3 days for the time period for shipping the final documents by mail.
Choosing our Express Mail option can shave a couple of days off the total processing time for your Maine LLC.
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PLEASE NOTE: WE CANNOT GUARANTEE MAINE SECRETARY OF STATE PROCESSING TIMES.
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We are dependent on, and have no control over, the staff and systems of the Maine Secretary of State.
In our experience 3-4 business days is the time it usually takes the Maine Secretary of State to process
a new Maine Corporation application.
We get your Maine Corporation application to the ME Secretary of State ASAP.
Once it is at the state we have no control over the new Maine Corporation application process.
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Are there any Expedited Processing Options for new ME Corporation Filings?
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| The Maine Secretary of State offers two expedited processing options for new Maine Corporation applications. For an additional $50 the Secretary of State will process the new Maine Corporation filing within 24 hours. For $100 the Secretary of State will process the new Maine Corporation filing immediately. |
How much does it cost to Incorporate in Maine? |
The state of Maine charges $150.00 to Incorporate in ME.
This is the cost of filing and getting a Certified Copy of your Articles of Incorporation from the ME Secretary of State.
If you choose All Business Documemnts to help you Incorporate in Maine our processing fees are $125.00.
We start processing your new Maine Corporation order as soon as we get it.
Total cost includes:
- ME Name Check and Reservation
- Prepare Articles of Incorporation
- File Articles of Incorporation with the Maine Secretary of State
- Certified Copies of Articles
- Maine Corporation Checklist
- Priority Mail Delivery
- Unlimited Customer Support
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What is a Maine Professional Corporation? |
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Generally, if you are required to obtain some kind of license before you can market your skills in the state of Maine then you will
most likely need to form a Maine Professional Corporation.
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Generally, if you are required to obtain some kind of license before you can market your skills in the state of Maine then you will
most likely need to form a Maine Professional Corporation.
Attorneys, architects, engineers, public accountants, nurses and physicians, among others, may require registration as a Professional
Corporation with the Maine Secretary of State.
Depending on exactly what it is that you want to do in Maine, approval from a specific Maine state agency or board may be required before the ME Secretary of State will approve a new
Maine Professional Corporation filing.
This could add to the total processing time for a new Maine Corporation.
Click here for more information on a
Maine Professional Corporation.
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Maine Foreign Corporation Qualification |
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You want to do business in the state of Maine but are registered as a Domestic Corporation in another state.
In order to legally conduct business in the state of Maine you must register with the Maine Secretary of State as
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You want to do business in the state of Maine but are registered as a Domestic Corporation in another state.
In order to legally conduct business in the state of Maine you must register with the Maine Secretary of State as
a Maine Foreign Corporation.
The process of registering as a Foreign Corporation in the state of Maine is called Maine Corporation Foreign Qualification.
The process of Maine Corporation Foreign Qualification is similar to the process of forming a Domestic Corporation in the state of Maine.
Your original formation documents (usually called Articles of Incorporation) and Corporate Bylaws apply to your Maine Foreign Corporation.
The Board of Directors and Officers of your Domestic Corporation have the same roles in the Maine Foreign Corporation.
Click here for specific requirements for
Maine Corporation Foreign Qualification.
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