General Guide to Company Incorporation in Maine
Updated on Monday 29th January 2018
Rate this article 1 reviewsbased on
Maine is a northeastern state of USA, bordered by New Hampshire and the Atlantic Ocean. The Pine Tree State, as Maine is recognized, is the 9th most populated state of America and representative for its excellent seafood gastronomy and the attractive water channels, leading to varied types of businesses in this particular zone. We have prepared a general guide to company incorporation in Maine for entrepreneurs willing to expand their activities in the USA. From the beginning, we mention that our USA company formation specialists are at your disposal with comprehensive information about how you can set up your business in any state, including Maine.
Opening a limited liability company in Maine
Starting a company in USA and especially in Maine is subject to easy incorporation with the Business Division of Maine Secretary of State. Besides the simple forms you need to consider at registration, the Articles of Association are the main documents which contain all the details about your firm: its name, the owners, the business address, the board of directors, the registered agent and the list of activities. Low Profit or Professional LLC are accepted in Maine and the owners can perform the activities starting with the registration date or a few days after. Please consider the related fees for LLCs in Maine.
Entrepreneurs can also set up corporations in Maine if they offer information about the services provided, the authorized shares, the voting rights, and if the operations will be controlled by the shareholders or by the board of managers.
A registered agent for your business in Maine
Companies in Maine can be formed if a registered agent is appointed before the registration procedure. In this matter, it is good to know that a registered agent can be whether an individual or another company with establishments in Maine. Either way, the registered agent will represent your business and the related documents. Opening a company in USA may also be subject to an operating agreement which comprises details about the owners, the activities, their rights and liabilities among other aspects.
Obtain the EIN in Maine
Just like for most states in USA, the Employer Identification Number or simply the EIN will be necessary when incorporating a company in Maine. This is the necessary number for tax purposes and it is issued by the IRS (Internal Revenue Service) and particularly by MRS (Maine Revenue Service) through the local offices. Please consider that most banks in Maine will require the EIN for opening a corporate bank account.
Licenses and permits in Maine
Depending on the type of business and the chosen sector in Maine, you might need licenses and permits from the health and safety department, building and construction division, or from the environment department in Maine. As for the general licenses, these are issued by the local authorities. We remind foreigners that they can solicit support and guidelines from our company formation agents in USA in matters of registration, including for licenses and permits application.
Other types of entities in Maine
Sole proprietorships, corporations, or partnerships can be set up by foreign investors in Maine. In cases of partnerships in this state, the members involved must pay the state taxes on partnership profits on personal tax returns. LLCs in Maine need to file the annual report with the tax authorities in charge. In any case, we remind that when forming such entities, our USA representatives can act as registered agents for your business in Maine.
Taxes in Maine
The general sales tax in Maine is set at 5.5%. Other taxes involve the short-term auto rentals for which a tax of 10% is levied. Moreover, one should consider the income tax which ranges between 6.5% and 7.95%. Local tax collectors are in charge of property tax and related aspects.
Economy in Maine
Due to its welcoming climate, Maine developed the agriculture sector in a fast manner. The ocean exits offer numerous possibilities in the fishing industry and also for tourism and recreation facilities. The Pine Tree State is known for its large production of blueberry in USA. Augusta, the capital of Maine, and cities like Portland, Camden, South Portland, Lewiston, Bangor or Cape Elizabeth are representative business destinations in this state. Likewise, Maine is very much appreciated for the infrastructure and transportation provided which allows a wide range of connections with important business destinations, among which we mention Canada.
For a better understanding of how you can register your company in Maine, we suggest you to contact our team of company formation advisors in USA.