Forming an LLC in Maryland
To form an LLC in Maryland, file Articles of Organization with the Department of Assessments and Taxation. The cost is $100. Must renew LLC registration yearly. If not renewed within 30 days of the expiration date, the LLC dissolves automatically. To dissolve the LLC, file Articles of Cancellation by mail, fax, or in person.
Annual Reporting and Fees
- All incorporated, qualified, or registered businesses in Maryland must file an Annual Report with the state every year. Every business entity must pay an annual tax, regardless of whether any business is conducted.
- The Maryland LLC Annual Report must be filed with the Department of Assessments and Taxation by April 15 each year. It costs $300 as an annual filing fee to stay in good standing. Filing online is an option, and an extension is available until June 15 to avoid losing good standing status with the Secretary of State.
- If an LLC owns, uses, or leases personal property in Maryland or has a trader’s license with the local government, it must file a Personal Property Tax Return. This, combined with the $300 Annual Report fee, may result in owing more depending on the return.
Fees and Reporting Details
- Filing fees range from $300-$400 for standard LLCs. Fees are subject to change, so it is advisable to check the website for current fees.
- The Annual Report includes details such as the LLC’s office address, member/manager names and addresses, ID documents, and key member Social Security numbers. Keeping the company address updated allows creditors or interested parties to contact the LLC. The information provided is also used by the government to track the LLC’s state tax payments.