Basic Guide to Starting an LLC in MD: for Beginners

Wish to form an LLC in MD? It is not a herculean task provided you know what exactly to do and you do it right. You can take advice from a business lawyer in case you are in doubt or want a legal expert by your side. In fact, this is a good idea because, with legal aid, you have almost nil chance of making errors or omissions that may later affect your business operations.

Here is a short and basic guide for starting an LLC in MD.

First things first

Get proper information about filling forms, registering the LLC, naming requirements, fee, and legal matters involved in starting a business.

A business attorney can help you in this.

You must register and fill forms with the Maryland Department of Assessments and Taxation.

Registration:

You must fill Articles of Organization correctly and completely. Then submit them to the Maryland Department of Assessments and Taxation.

This is done through mail.

The following information is mandatory:

• Name and address of your LLC
• Purpose of starting LLC
• Name and address of the registered agent, along with their signature
• Name and address of the organizer, along with his/her signature

When you submit documents, you must pay a fee.

Form and fee:

Filing and submitting fee of the Articles of Organization is usually around $100. You can avail yourselves expedited processing services by paying $50 as minimal fee.

Fee structure is subject to changes. Besides, things have changed after the lockdowns due to novel Coronavirus. So, it is best to check the latest fee with the Maryland Department of Assessments and Taxation.

Time:

When you submit the forms, it takes around 7-8 weeks for the processing. It may take longer too. So be patient.

In case you hire a processing service, you may get the benefit of reduced processing time.

Naming requirements:

Although it seems simple, the naming process can be confusing and, at times, take up your energy and efforts. It is good to think of a name before starting an LLC in MD.

Make sure the name is unique.

There are milions of LLCs in the world. It would not be surprising, if your name is already taken.

Use specific keywords that relate to your business.

All states mandate people to create names that end with words or abbreviations, which clarify that the company is an LLC.

So, you can end the name of your business with words like “Limited Liability Company” or “Limited.” Abbreviations such as “Ltd.” Or “LLC” or “L.L.C.” are fine. You can also use “Ltd. Co” or just use “LLC.”

Check your LLC’s name for availability before you file the documents.

Remember

If there are more one person as member, you must have an operating agreement of the LLC company. A lawyer can help you create such a document.

So, before you start a business in MD, contact one of the reputable business lawyers for proper guidance, creating agreements, and helping you with taxation matters and other legalities of a business.