After forming a corporation, you must undertake certain steps on an ongoing basis to keep your business in compliance. These steps are also important in preserving the limited liability a corporation provides its owners. This guide outlines the ongoing requirements for Maine corporations.
Maine corporations must keep the following at the principal office with their corporate records:
- The Articles of Incorporation and any amendments
- Bylaws or restated bylaws and any amendments
- Resolutions adopted by the board of directors creating one or more classes or series of shares and fixing their relative rights, preferences and limitations
- Minutes of director and shareholder meetings for the past three years
- A records of action taken by the directors or shareholders without a meeting for the past three years
- A record of all actions taken by a committee of the board of directors in place of the board of directors
- Written communications to shareholders, including financial records, for the past three years
- A list of the names and addresses of shareholders in alphabetical order by class of shares and showing number and class of shares
- A list of names and business addresses of current directors and officers
- Most recent annual report
Corporate taxes and fees
The following are taxation requirements and ongoing fees for Maine corporations:
- Annual report. Maine requires corporations to file an annual report by June 1. The annual report fee is $85.
- Taxes. For complete details on state taxes for Maine corporations, visit Business Owner's Toolkit or the State of Maine.
- Federal tax identification number (EIN). An EIN is required for corporations that will have employees. Additionally, most banks require an EIN in order to open a business bank account.
- State tax identification number. Maine does not require a state tax identification number.
Business licenses and/or permits are required for most businesses. The BizFilings Business License Application Package can help you stay on top of these requirements.
S corporation election
Maine recognizes the federal S corporation election and does not require a state-level S corporation election.
Additional Maine information
View the following additional resources BizFilings has for forming and maintaining companies in Maine:
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