Forming a limited liability company (LLC) is an important step for your small business. With an LLC in place, you can begin the important work necessary for your company to thrive. If you’re set on starting your LLC in Maryland, the next step is to understand the specific state requirements and decide if you’ll do it on your own or let another company handle it for you.
Choosing the right third-party provider for your LLC formation is an essential component. You need to review the best LLC formation services and see how they differ. Some offer free formation services while others offer a range of business services, depending on the package you select.
With a great business partner, you’ll be confident that the key formation tasks are completed, leaving you time to focus on the core tasks of your company.
Disclaimer: the rates and offerings below are subjected to changes made by the service providers.
An LLC is one of the most popular business types across the nation, and with good reason. An LLC provides owners, called members, with tax flexibility, operational options and liability protection.
Your business structure is the legal way in which you operate your business. An LLC is considered a pass-through entity, meaning that the profits or losses you have as a business pass through to your individual income tax filings.
In an LLC, you and any other owners can operate the business yourself (member-managed) or hire someone to run it for you (manager-managed). There are no formal requirements to have a board or annual meetings and the company remains private.
One of the biggest reasons that a small business chooses to run as an LLC is the liability protections an LLC provides. With an LLC, your personal assets are protected in the case of a legal decision against your company. That means that your home, car and savings cannot be seized as part of a judgement against the business.
If you are doing business in Maryland, create your LLC there, formal paperwork needs to be filed in the state (in which you are doing business. In addition, there are often state-specific requirements for paperwork that needs to be filed. Other paperwork helps to clarify what the business is and the roles of various leaders.
Among these items are:
Similarly to most states, you are required to appoint a registered agent to your Maryland LLC. The registered agent maintains a legal address at which legal documents may be received.
Most LLCs choose not to be their own registered agent, because the agent must be available during business hours every day. In addition, if legal summonses or subpoenas are presented, it’s best to not have such procedures take place in front of employees, customers or clients.
Many companies provide both filing and registered agent service to LLCs.
How do you choose the right LLC formation company for your Maryland business? You can begin by doing your research and looking at customer reviews.
Below are key details about five of the top LLC formation companies in Maryland.
Tailor Brands provides LLC formation and other core services essential for launching and running your small business. Tailor Brands offers a range of core business functions that allow you to focus on running your business.
LLC formation is at the core of Tailor Brand’s services for small businesses. In addition, the company offers multiple business services, including:
Tailor Brands offers three options for forming your LLC in Maryland. These packages do not include the state filing fee of $155. Also, keep in mind that there are additional costs associated with a Maryland LLC, so make sure you take them all into consideration.
The Lite package includes LLC formation and processing for free.
The Essential package includes the Lite services, plus processing the LLC within 2 days, annual mandatory report filing and operating agreement creation. The price is $199 annually.
The Elite package includes all the Lite and Essential services, plus domain and website development, one year of free domain services, a do-it-yourself online store, 8 free logos, digital business card, a social media post maker and business card tools. The price is $249 annually.
Tailor Brands is an excellent choice, offering you core LLC formation services and additional integrated services to launch and run your company.
Rocket Lawyer is a comprehensive legal services website. It includes LLC formation services as part of its suite of legal options.
Rocket Lawyer offers LLC formation services for your Maryland business. It’s a good service for those that will also be using Rocket Lawyer for other legal needs.
Its formation services include filing and registered agent services. LLC operating agreements and business plan development.
It also offers resources that can be helpful for your small business, including contracts and other legal forms. It offers employment and HR documents, service contracts and intellectual property services.
They also provide limited access to attorneys with expertise in business affairs.
If you are just starting your business, Rocket Lawyer can also help. Its services include doing-business-as (DBA) filing, trademark registration and copyright protection.
Rocket Lawyer offers two membership fees (not including state filing fees). Rocket Legal is $39.95 monthly while Rocket Legal+ is $19.99 monthly (billed annually).
Business registration services are $99.99, plus state filing fees, with the Rocket Legal plan and free with Rocket Legal+. Registered agent fees are $249.99 and $124.99 annually, respectively.
If your company will need extensive legal services, Rocket Lawyer is a smart choice for LLC formation.
ZenBusiness is a comprehensive business services company, offering business formation and business operation support for your small business.
In addition to LLC formation services, ZenBusiness provides domain registration, website creation, logo design, business email, business bank account, financial management, business credit card, market research, business plan development, business license and permit management and grant services.
ZenBusiness offers three tiers. The Starter package is free for LLC formation. Additional services are offered for various fees.
The Pro package ($199 annually) includes LLC formation, compliance services, operating agreement creation and Employee Identification Number (EIN) filing.
The Premium package ($349 annually) includes all the Pro package services, plus business document development, website building, domain name creation and business email.
The pricing excludes state filing fees.
For comprehensive business services, ZenBusiness is a smart choice for launching and managing your company.
LegalZoom offers online legal services, including business formation, estate planning and ongoing legal services for businesses and individuals.
Business services include business formation functions, DBA creation, registered agent services, annual report creation, business licensing, accounting, tax and virtual mail services. In addition, it helps protect your business with trademark search, registration and monitoring services, copyright and provisional patent services.
There are three pricing tiers related to LLC formation, all of which do not include state filing fees.
The Basic plan is free and includes LLC formation, articles of organization, name check service, a step-by-step formation checklist and customizable website.
The Pro plan is $249 and includes the Basic services, plus operating agreement completion, EIN filing, customizable legal documents for a year, unlimited eSignatures for a year and phone consultations on insurance and taxes.
The Premium package is $299 and includes all Basic and Pro services, plus guidance from business attorneys, unlimited 30-minute attorney consultations and free changes to LLC formation documents for 30 days.
LegalZoom is a robust legal and business services option for your Maryland business.
Swyft Filings offers an array of business formation and operational services, along with a Learning Center to provide helpful insights.
A business name generator and name search tool help businesses find the right moniker before forming their company. Business management services include initial and annual report development, EIN creation, amendments and name changes, business dissolution services, licensing, research, compliance and corporate bylaw creation.
The Learning Center includes state-by-state guides and insights on taxes, finances, preparing to launch, management and selling or ending a company.
There are three tiers for business formation services, all excluding state filing fees.
The Basic plan is free and provides filing, name check, articles of incorporation and lifetime customer support.
The Standard plan includes expedited filing, EIN filing, corporate bylaws, banking resolution and instant electronic delivery of state documents.
The Premium plan includes all the Standard features, plus same-day filing, access to customizable legal and business documents, a one-year domain subscription, expedited shipping, a compliance kit, free annual report, amendment and meeting minutes and tools to assist in opening a business bank account.
A solid service-provider, Swyft Filings offers robust tools for every phase of your business.
It is possible to form an LLC in Maryland by yourself. However, the complexity of creating, filing and managing the important documents, deadlines and requirements of owning an LLC leads most owners to choose an LLC formation service.
An LLC is a smart business type for your small business. Knowing Maryland’s state requirements and what other business services your company needs can help you choose one of the top formation services providers for your operation.
This portion of our website is for informational purposes only. Tailor Brands is not a law firm, and none of the information on this website constitutes or is intended to convey legal advice. All statements, opinions, recommendations, and conclusions are solely the expression of the author and provided on an as-is basis. Accordingly, Tailor Brands is not responsible for the information and/or its accuracy or completeness. It also does not indicate any affiliation between Tailor Brands and any other brands, services or logos.
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