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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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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.
One of the primary expenses when maintaining an LLC in Maine is the initial formation fee. When establishing an LLC in the state, there is a registration fee that must be paid to the Maine Secretary of State’s office. This fee covers the administrative costs associated with processing and filing the necessary paperwork to create the LLC. The formation fee can vary depending on the type of business structure and any additional services requested during the registration process.
In addition to the initial formation fee, LLCs in Maine are required to file an annual report with the Secretary of State’s office. This report ensures that the state has up-to-date information about the LLC, such as its members, managers, and registered agent. There is a filing fee associated with submitting the annual report, which is typically due on the anniversary of the LLC’s formation date. Failure to file the report can result in penalties or the dissolution of the LLC, so it is important to adhere to the state’s reporting requirements.
Furthermore, maintaining an LLC in Maine also involves ongoing compliance costs. LLCs are required to comply with state laws and regulations, which may involve obtaining business licenses or permits depending on the nature of the business. These licenses and permits can come with associated fees that need to be paid periodically to keep the LLC in good standing with the state.
Another cost to consider when maintaining an LLC in Maine is the cost of hiring professional services. Many business owners opt to work with attorneys, accountants, or business consultants to help navigate the complex legal and financial aspects of running an LLC. While these services come at a cost, they can be invaluable in helping ensure that the LLC remains in compliance with state laws and regulations, ultimately saving time and potential legal issues down the road.
Overall, the cost of maintaining an LLC in Maine can vary depending on various factors such as business structure, industry, and compliance needs. Business owners should budget for these expenses to ensure that their LLC remains in good standing with the state and is able to operate legally and efficiently. By understanding the typical costs associated with operating an LLC in Maine, business owners can better plan for the financial obligations of maintaining their entity and focus on growing their business.
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.