Maryland Corporation Requirements

Each state has different requirements for forming a corporation. Whether you are starting a business or incorporating a business already in existence, you’ll want to understand state requirements for Maryland incorporation.

Cost to incorporate in Maryland

At BizFilings, we clearly outline our fees and the state fees to form a Maryland corporation. View our pricing to incorporate as a C corporation or S corporation to plainly see:

• BizFilings’ package prices. BizFilings offers three incorporation service packages from which you can choose.
• State fee for standard turn-around. Our pricing clearly shows the state fee to incorporate in Maryland with standard turn-around.
• Expedited turn-around. You will see the BizFilings and state fee, if any, for expedited turn-around.
• 48-hour turn-around. Maryland has a 48-hour filing option, which is outlined in our pricing.
• Certified copy. Our pricing also clearly displays the BizFilings and state fee, if any, for issuing a Certified Copy of the Articles of Incorporation.

Incorporate in Maryland

Maryland Corporate Name

The corporation’s name must contain the word "Corporation," "Incorporated," "Limited" or an abbreviation thereof. For banking corporations, the words "Bank," "Banking" or "Bankers" may be used. The name may not contain language stating or implying that the corporation is organized for a purpose other than the one permitted by the Articles of Incorporation. The name cannot be the same as or deceptively similar to that of a domestic or foreign qualified corporation. Listing wording within parentheses within the company name implies multiple names and is not allowed.

Director information

The following are Maryland’s requirements for directors of corporations:

• Minimum number. Corporations must have one or more directors.
• Residence requirements. Maryland does not have a provision specifying where directors must reside.
• Age requirements. Maryland does not have age requirements.
• Inclusion in the Articles of Incorporation. Director names and addresses are required to be listed in the Articles of Incorporation.

Requirements for the Articles of Incorporation

The document required to form a corporation in Maryland is called the Articles of Incorporation. The information required in the formation document varies by state. Maryland's requirements include:

• Officers. Officer names and addresses are not required to be listed in the Articles of Incorporation.
• Stock. Authorized shares and par value must be listed in the Articles of Incorporation. An increase in the number of shares or par value can affect initial filing fees.
• Registered agent. Corporations must list the name and address of a registered agent with a physical address (no post office boxes) in Maryland. The registered agent must be available during normal business hours to accept important legal and tax documents for the business.

Professional services businesses

Maryland allows professionals, such as accountants, attorneys and physicians, to form a professional corporation (PC).

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 Maryland corporations.

Maryland corporate records

Maryland corporations must keep the following with their corporate records in written form or in a form that can be easily converted to written form:

• Books and records of its accounts and transactions
• Minutes of director and shareholder meetings
• Minutes of any meetings of committees exercising the powers of the board of directors

Maryland corporate taxes and fees

The following are taxation requirements and ongoing fees for Maryland corporations:

• Annual report. Maryland requires corporations to file an annual report (Personal Property Return) by April 15. The filing fee is $300.
• Taxes. For complete details on state taxes for Maryland corporations, visit Business Owner's Toolkit or the State of Maryland .
• 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. Maryland requires a state tax identification number.

Maryland business licenses

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

Maryland recognizes the federal S corporation election and does not require a state-level S corporation election.

Additional Maryland information

View the following additional resources BizFilings has for forming and maintaining companies in Maryland:

• Maryland LLC Formation

Continue Your Research

• How to Select a State for Incorporation
• Understanding Incorporation Requirements
• What is a Registered Agent?

Explore BizFilings' Services

• C Corporation Formation Service
• S Corporation Formation Service
• Registered Agent Service
• Professional Corporation