What is Maine Corporation Foreign 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
a Foreign Corporation.
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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 Foreign Corporation.
The process of registering as a Foreign Corporation in 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 Maine.
Your original Domestic Corporation formation documents (usually called Articles of Incorporation) and By Laws apply to your Maine Foreign Corporation.
The Officers and Directors of your Domestic Corporation have the same roles in the Maine Foreign Corporation.
Specific requirements to qualify as a Foreign Corporation in Maine are explained below.
Once you have made the decision to Qualify as a Foreign Corporation 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.
Put the money you save with All Business Documents where it belongs
right into your new Maine Foreign Corporation.
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What is a Maine Foreign Corporation? |
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In the United States, just because you are registered to do business in one state does not mean that you can legally do business in another state.
If you want to transact any serious business in a state other than the state in which your Corporation is registered, most likely you will
have to register with the state in which you want to do business before you can legally conduct business there.
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In the United States, just because you are registered to do business in one state does not mean that you can legally do business in another state.
If you want to transact any serious business in a state other than the state in which your Corporation is registered, most likely you will
have to register with the state in which you want to do business before you can legally conduct business there.
For example, a Corporation that is registered in California wants to do business in Maine.
The California Corporation is a "Domestic" Corporation in California and will be a "Foreign" Corporation in Maine.
The California Corporation needs to register with the Maine Secretary of State as a Maine Foreign Corporation.
The use of the term Foreign in this case refers specifically to individual US states.
The US government, including the IRS, considers a Foreign Corporation to be a Corporation that is registered outside
of the United States.
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Do I need a lawyer to Form a Foreign Corporation 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 Foreign Corporation.
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The short answer is no.
The state of Maine does not legally require a lawyer to form a
Maine Foreign Corporation.
Our detailed Incorporation Information page may help you understand some
of the implications of forming a Maine Foreign Corporation.
However, if there is anything about forming a Foreign Corporation 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 form a Foreign Corporation in Maine.
Once you have made the decision to form a Foreign Corporation 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 Foreign Corporation.
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Do I have to Reserve a Company Name before I Form a Foreign Corporation in ME?
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You are not legally required to reserve a Company Name for a new Maine Foreign Corporation before you submit your application to form a Foreign Corporation in
Maine.
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You are not legally required to reserve a Company Name for a new Maine Foreign Corporation before you submit your application to Form a Foreign Corporation
in Maine.
The Corporation name that you have registered in your home state may or may not be available in Maine.
In that case you need a different name your Maine Foreign Corporation.
Whether or not you need to reserve a company name for your new Maine Foreign 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 Foreign Corporation Name.
Click here for more information on
Maine Company Name Reservation
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What if the Maine Foreign Corporation Name I want is already taken?
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If the Name you have chosen for your new Maine Foreign Corporation is already in use by a currently active
Maine Corporation or LLC 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 Foreign Corporation is available before we submit
your Foreign 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 Form a Foreign Corporation in Maine?
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5 things you have to do in order to Form a Maine Foreign Corporation
1. Prove that you are registered in a state other than ME as a Domestic Corporation
2. Choose a name for your Maine Foreign Corporation
3. Select an official address and a Registered Agent for your ME Foreign Corporation
4. File Registration Documents with the Maine Secretary of State
5. Determine how you want your Maine Foreign Corporation to be taxed
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1. Prove that you are registered in a state other than Maine as a Domestic Corporation
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In order to register as a Foreign Corporation in the state of Maine, you must first prove that you are registered in another state as a
Domestic Corporation.
You prove this with a Certificate of Good Standing, sometimes referred to as a Certificate of Existence or a Certificate of Fact, from the
state in which you are registered as a Domestic Corporation.
Cost of a Good Standing Certificate for your Domestic Corporation varies from state to state.
If you already have a Good Standing Certificate please note that it must be dated no older than 90 days from the date of your application for
Maine Corporation Foreign Qualification.
If the date on your Good Standing Certificate is older than 90 days then you need to get an updated certificate.
If you get your own Good Standing Certificate you must scan and email or send a copy to us before we submit your application for a
Maine Foreign Corporation.
We can get your Good Standing Certificate from any state - in most states within 2-3 hours.
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2. Choose a name for your Maine Foreign Corporation
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You can use the same name in Maine that you use in your home state, however, if the name of your Domestic Corporation is not available you need to choose another name.
Your Maine Foreign 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 Foreign 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 Foreign Corporation name must not imply that it was formed for a purpose other than that stated in the
Articles of Incorporation for your Domestic Corporation and your Maine Foreign Corporation name must not be a name that is likely to mislead the public.
The name of a Maine Foreign 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 Foreign Corporation because if you want to change it after you qualify you
will have to file amended documents with the Maine Secretary of State (and pay a fee).
We will check to make sure that your requested Maine Foreign Corporation name is available and conforms to all state of Maine
Corporation naming regulations.
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3. Select an official address and a Registered Agent for your Maine Foreign Corporation
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Every Maine Foreign 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 cannot be a PO Box and 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
Foreign Corporation is called a "Registered Agent".
You may act as your own Registered Agent, however, many Maine Foreign 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 provide Registered Agent services in Maine as well as all other states and the District of Columbia.
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4. File Registration Documents with the Maine Secretary of State
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In order to Qualify as a Foreign Corporation in Maine you must file Registration Documents with the Maine Secretary of State.
In Maine the registration documents are named "Application for Authority To Do Business".
The registration documents must include certain specific information about your Maine business.
If the Registration Documents do not conform exactly to state of Maine requirements they will be rejected.
If you need to change any of the information on your registration documents after your Maine Foreign Corporation has been approved,
you may amend the registration documents for your Maine Foreign 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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5. Determine how you want your Maine Foreign 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 Foreign Corporation.
Maine Corporate Income Tax Rates vary from 3.5 to 8.93%.
You may choose that your Maine Foreign Corporation to be taxed as a C Corporation or S Corporation.
A C Corporation is what you may think of as a traditional Corporation like General Electric or Ford.
C Corporations pay a Corporate income tax to the state if that state taxes Corporations.
You may choose to have your Maine Foreign Corporation taxed as a S Corporation.
S Corporations "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 .
If you choose to be taxed as an S Corporation, we can prepare the S Corporation election form for your Maine Foreign Corporation and include it with
your final Foreign Corporation documents.
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What do I have to do to after I Form a Maine Foreign Corporation?
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4 things you have to do in after you Form a Maine Foreign Corporation
1. Obtain Business Licenses from the cities and counties in which you plan to do business
2. File the required reports for your Maine Foreign Corporation
3. Keep proper records of your Maine Foreign Corporation on file
4. Pay your taxes to the state of Maine
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1. Obtain Business Licenses from the cities and counties in which you plan to do business
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Note that forming a Maine Foreign Corporation does not take the place of obtaining a local business license, tax
registration certificate, or other required business permits.
A Maine Foreign 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 Foreign Corporation within Maine you may need to get one or more local
business licenses or permits.
The business licenses or permits that are required for your Maine Foreign 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 Foreign 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 Foreign 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.
We have the expertise to find out exactly which state and local permits that you need for your specific business.
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2. File the required reports for your Maine Foreign Corporation
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The Annual Report includes basic information about your Maine Foreign Corporation including information on your Officers and Directors.
Failure to submit a properly completed Maine Annual Report to the Maine Secretary of State on or before the
due date may subject the Maine Foreign Corporation to being administratively dissolved in the state of Maine or having its authority to
transact business in the state of Maine revoked by the Maine Secretary of State.
Penalties may accrue if you fail to file any Maine Foreign Corporation Annual Report to the Maine Secretary of State by the due date.
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3. Keep proper records of your Maine Foreign Corporation on file
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Keep the following records on file and available at the principal business office of your Maine Foreign Corporation:
- Names and addresses of all Directors and Officers of the Maine Foreign Corporation
- Foreign Corporation formation documents and any Amendments to them
- Corporate Bylaws and any Amendments to them
- List of current shareholders of the Foreign 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 Foreign Corporation
- Copies of all tax returns and Annual Reports for the Maine Foreign Corporation for the last 3 years
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4. Pay your taxes to the state of Maine
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Foreign Corporations that either do business in the state of Maine or that derive income from sources within the state of Maine are subject
to Maine and federal tax laws.
If you are engaged in intrastate business and derive income from other states besides Maine, you must allocate the amount of income derived
from the state of Maine in order to determine your Maine state taxes.
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What information do I need in order to Form a Foreign Corporation in Maine? |
In order to Form a Foreign Corporation in Maine you'll need certain specific information about your 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 Foreign Corporation along with your second choice of a name in case the name that you want is not available
- Physical addess of the Foreign Corporation office in Maine (not a PO Box)
- A good standing certificate for your Domestic Corporation from your home state no older that 90 days
- A description of the nature of the business you are planning to operate with the Maine Foreign Corporation
- Names and addresses of the initial Directors of the Maine Foreign Corporation
Remember - ALL the information that you provide when you Form a Foreign Corporation 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 Foreign Corporation in Maine.
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How long does it take to Form a Foreign Corporation in Maine? |
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Processing times for new Maine Foreign Corporation applications vary depending on the work load of the
Secretary of State's staff.
We've found that normal processing of new Maine Foreign Corporation applications 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 new Maine Foreign Corporation.
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PLEASE NOTE: WE CANNOT GUARANTEE MAINE SECRETARY OF STATE PROCESSING TIMES.
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The Maine Secretary of State reserves the right to extend expedite periods in time of extreme volume, staff shortage or
equipment malfunction.
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 Foreign Corporation application.
We get your Maine Foreign Corporation application to the ME Secretary of State ASAP.
Once it is at the state we have no control over the new Maine Foreign Corporation application process.
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Are there any Expedited Processing Options for a new ME Foreign Corporations?
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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 Form a Foreign Corporation in Maine? |
The state of Maine charges $255.00 to Form a Foreign Corporation in ME. Also add the cost of a good standing certificate from your home state.
If you choose us to help you Form your Foreign Corporation in Maine our processing fees are $145.00.
This includes:
- Same day processing of your new Maine Foreign Corporation order
- ME Name Check and Reservation
- Prepare Application for Authority To Do Business
- File Formation Documents with the Maine Secretary of State
- Certified Copies of Formation Documents
- Maine Foreign Corporation Checklist
- Priority Mail Delivery
- Unlimited Customer Support
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