Perhaps you are hoping to form a Maine LLC. People assume that starting an LLC is difficult and costly. However, it’s generally not difficult, and the cost would vary across states. We have all the info you need to know about the cost of forming an LLC, particularly the LLC cost in Maine.
On this page, you’ll learn about the following:
Maine LLC Cost of Filing
Here are the costs involved in forming an LLC in Maine.
Cost of Filing Formation Certificates
The Maine Certificate of Formation is responsible for the majority of the cost, which could also vary depending on whether you’re forming a domestic LLC or a foreign LLC. Still, you can file both at the Maine Secretary of State.
Maine Domestic LLC
- Maine does not have an online application filing system yet.
- By mail: Fill out the Application form PDF and send it to Secretary of State Division of Corporations, UCC and Commissions 101 State House Station Augusta, ME 04333-0101, costs $175.00.
- Annual Report filing costs $85.00 every year.
- Name reservation Application costs $20.00
Maine Foreign LLC
- Maine does not have an online application filing system yet.
- By mail: Fill out the Application form PDF and send it to Secretary of State Division of Corporations, UCC and Commissions 101 State House Station Augusta, ME 04333-0101, costs $250.00.
- Annual Report filing costs $150.00 every year.
- Name reservation Application costs $20.00
Note that filing online is ideal, not only because you need to go to the Secretary of State office, but also it would be faster. You won’t have to wait in a queue in doing so. Unfortunately, there is no online filing in Maine.
Maine LLC Formation Service or Registered Agent Fee
You need a registered agent to form an LLC in Maine, hence, added costs for service fees. Here are three of the best LLC services on our list that will provide you with registered agents to ease your worries.
LLC Service | Our Rating & Pricing | Top Features | Learn More |
#1 TOP PICK  | $0 + State Fees |
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 | $299 + State Fees |
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Business Permits and Licenses
The business licenses depend on your business’s activity and location and are renewed yearly. As such, the cost will vary. Check the Maine Department of Revenue for licenses required for certain types of businesses.
Maine LLC Taxes to be Paid
In Maine, other than the filing fee, LLCs have to pay some taxes. Overall, the tax burden on LLCs is much lesser than the other corporates. Here are some of the taxes to be paid when you are in Maine.
Sales and Use Tax
The State of Maine imposes a sales tax at the standard rate of 5.50% with no additional local or county rates. If your business includes products selling, the sales tax is imposed on the total amount of your taxable sales.
State Income Tax
Any money that you pay to yourself in the form of salary as a business owner in Maine, you will be required to pay State Income Tax at the rate of 5.8% to 7.15%, depending on the amount of income earned.
Employer Tax
If you hire employees in the State of Maine, you are required to register for Employee Withholding Tax on behalf of your employees.
Federal Self-Employment Tax
The LLC business owners in Maine are required to pay self-employment tax on their business profits. The current tax rate for self-employment is 15.3%.
Other Costs
- Maine Name Reservation: $20 online or by mail filing (plus $50 for 24-hour processing or $100 for immediate processing)
- Doing Business As (DBA): $125 if filing by mail
- Certified Document Copies: $5
- Certificate of Good Standing: $30
- Business Domain Name and Website: depend on your preference, but domain name could be as low as $2.99/yr at NameCheap, and web hosting is at least $30/mo at Kinsta.
- Online workspace: at least $4.20/mo for GSuite.
- Business Insurance: would vary depending on insurance type–whether general liability insurance or professional liability insurance–and coverage.
- Dissolution of Maine LLC: $75 plus $50 to expedite or $100 for immediate processing
How Much Does It Cost To Maintain An Llc In Maine
To maintain an LLC in Maine you will need to pay an annual fee of $85 along with sales tax at 5.5%, income tax at 5.5% to 7.15% and federal taxes.
When forming a Limited Liability Company (LLC) in Maine, a prospective business owner can expect to incur costs that are associated with maintaining the organization. The maintenance and upkeep of an LLC can vary and will ultimately be dependent on several factors.
First, while forming an LLC in Maine isn’t exceptionally challenging, there are still filing and administrative fees involved. It is important to understand that these initial costs could seem relatively low when compared to later-year expenses initially. Still, it’s important not to underestimate costs, and typically range from hundreds to a few thousand dollars, and include paperwork filing fees, franchise taxes, state fees, and expenses associated with registering any revisions or updates regarding the ownership, address changes, or possibly adding an authorized personnel or member.
When running an LLC profitably and well, simpler representations at times experienced years or more in the organization’s run, business operators know they must stay balanced or fall furiously far behind from lack of core needs. After the filing agent creates or conditions the starting positions within Maine’s legal administrative framework, there are routine expenses owners ought to calculate regularly. Fees are often described as Annual Reports, Licenses, and of course, Taxes. Annual Reports fall due every calendar year from the month the filing forms were authorized. These reports are essentially a review summary, requesting ownership and usage specifics for the work offering and investment profile.
This summary describes any modifications made to the LLC structure, any elaborations impacting LLC entities over shorter and longer periods and offerings served by the corporation since its initial formation. Fees of filing an annual report on or before the due date are vital, incorporate updates on restructuring contract changes, government-mandated changes, updated contact information, risk and asset summaries, and confirming assumed numerical status filing range all remain current. Failure to pay these or filing them late, often incurs penalties or additional assistance of legal professionals on the LLC’s behalf. It is eminent to make prompt requests as the governmental benchmarks are different and varied.
As LLCs are exempt from having to pay federal income taxes, instead, which pass onto sole proprietors and stakeholders share/sale treat individual taxpayers—LLCs themselves instead charged Maine taxes. Depending on the investment levels extracted from LLC members exclusive to the main stage of start bringing. By earning more valuable investments listed in the bylaws, corporations served by the LLC double-cross budgets that prevent bad allocation funds resulting from any number of detrimental gross mismanagement acts owners or members became involved legally. Instead, taxed every year, reduced reports do qualify but reinvestment aims from were cut corners prevail often voidability and which costs are technically penalties instead. Best reserved budget planning can minimize overcharges, while seeking means planning repeated as universally soluite
In summary, the expenses of running an LLC in Maine still involve fairly modest maintenance costs relative to other start-states across the USA. Business owners could expect to absorb administrative filing fees for initial registration when first forming an LLC, in which opening entries process periodic changes uniformly manufactured neatly along with a costly price tag which would cover annual report fillings, licensing and even tax requirements associated with sustaining its structure. With frequent gubernatorial change as seniority mattering determined significantly year-to-year for changes towards annual IRA contributions owning a Maine LLC, it is fair to come suggested consulting service providers before handling budget mishandlings internally. Efficient business owners will be pleased to find that beyond initial start-up expenses, the rest is merely a regular payment no die-hard business owner should contend with incorrectly. Acknowledging that understanding Maine’s filing demands for new companies is notably different from taxpayers outside estate statutes, and financing support towards of professional taxation services should be trusted.
F.A.Qs
It is possible to form an LLC without professional help, but forms still have associated costs, regardless of where your LLC is formed.
It is difficult to say whether forming an LLC is expensive. Nevertheless, the cost could be anywhere from $40 to $500. If you refuse to hire professionals, you’ll still have expenses like form fees to cover.
The need to separate personal money from business funds, thus necessitating the creation of a business bank account for your LLC.
In Conclusion
The cost of Maine is much lower compared to other forms of business. Apart from the state filing fees and annual taxes, you might bear the cost of the registered agent. Compare the price of professional LLC services and choose the most affordable one.
