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.
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.
The following are Maryland’s requirements for directors of corporations:
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:
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 corporations must keep the following with their corporate records in written form or in a form that can be easily converted to written form:
The following are taxation requirements and ongoing fees for Maryland corporations:
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.
Maryland recognizes the federal S corporation election and does not require a state-level S corporation election.
The state in which you form your company can provide certain benefits.
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