General Registration Fees
How much does it cost to register a business name in Maryland? You can register a trade name with the Maryland Department of Assessments and Taxation by filing a Trade Name Application for $25, or $75 expedited. Registration is recommended but not required.
Forming an LLC
Initial Formation Costs
To form an LLC in Maryland costs $100, but there are additional fees. You must file Articles of Organization and pay a $100 filing fee to the Maryland Department of Assessments and Taxation (SDAT). You can file online through the Maryland Business Express website and form your LLC within 7 days for $100. Going through a formation service costs extra but can make the process easier.
Ongoing Costs
After forming your LLC, you’ll need to pay a $300 annual report fee each year. You’ll also need a registered agent, typically $100-$200 per year. Most Maryland businesses need a local business license too, with fees varying.
When forming your LLC, you must choose a business name and ensure no other company has taken it. File your Articles of Organization through SDAT, either online for $100 or by mail taking 4-6 weeks costing $100 (or $150 expedited). You must include your registered agent’s name and signature.
Maintaining a Maryland LLC involves a $300 yearly report fee. You’ll also owe sales tax, state business tax, state employer tax, and federal taxes. Appointing a registered agent costs around $100-$200 per year.
The Cheapest Way to Get an LLC
What is the cheapest way to get an LLC in Maryland?
To form an LLC in Maryland, you need to file Articles of Organization and pay a $100 filing fee to the Maryland Department of Assessments and Taxation (SDAT). You can file online through the Maryland Business Express website and get your LLC formed within 7 business days for $100.
After forming your LLC, you’ll need to pay a $300 annual report fee each year. You’ll also need a registered agent, which typically costs $100-$200 per year. Most Maryland businesses need a local business license too, with fees varying by county and industry.
After creating your LLC, you must file annual reports for $300 per year. You may need various business licenses and permits, which vary by location and industry. Expect to pay sales tax at 6%, state business tax at 7.15%-8.25%, state employer tax at 2%-5.57%, and federal income taxes. An operating agreement detailing ownership and rules is also essential.