Form an LLC in Maine for Free with Tailor Brands

The first step to starting an LLC in Maine is selecting an official business name that adequately reflects your brand. The name must be unique to your business and should not be used by any other business to avoid confusion.

Before you pick a business name, you must do some research to find out if your desired LLC name is available or has been taken by another business. You can use the Maine Secretary of State Business Search, also referred to as the Corporate Name Search, for your Maine LLC name search.     

Once you’ve chosen a unique business name, you must reserve it or risk losing it to another business or organization. Then, eventually, you’ll have to register your business name. For $20, you can apply to reserve your name with the Secretary of State of Maine for up to 120 days. 

Your business name must also adopt the LLC naming conventions mandated by the state of Maine. It must have “Limited Liability Company” attached to it. Otherwise, it can have any of the alternatives like “L.L.C”, “LLC”, “L.C”, or “LC”.

You must appoint a registered agent for your LLC in Maine. A registered agent is a business or individual who will be the official point of contact for your company. They will accept legal papers and tax documents on behalf of your Maine LLC.  

You or any member of your LLC can serve as a registered agent. Alternatively, you can outsource it to commercial registered agent service providers. Whoever you choose must have a permanent physical address in Maine.

You can decide to run your company as a single-member or multi-member LLC. A multi-member LLC in Maine allows you to hire employees and have several members, while in a single-member LLC, you would be the company’s sole member. 

The state of Maine also recognizes Low-profit LLCs (L3Cs). These are companies that can generate revenue and enjoy pass-through taxation. However, they must not have a political objective or charitable or educational purpose.

An operating agreement is an official document that outlines the terms of operations of your LLC in Maine. It acts as a binding agreement that allows the members of your LLC to make financial and functional business decisions according to guidelines. 

Maine government policies do not require LLCs to submit an operating agreement. However, we recommend that you create one to guide the operations of your company, especially if you plan to run a multi-member LLC in Maine. 

Before your LLC in Maine can become a legally registered entity, you must file your Certificate of Formation with the Secretary of State. A Certificate of Formation is an official document that contains crucial information about your LLC. 

This document should contain the name of your LLC in Maine, contact information, and details of your registered agent. The filing fee for this document is $175. However, the government gives you the option of expedited filing at an extra cost of $50–$100.

Also known as a federal tax identification number, an EIN is used by the IRS as a means of identifying your LLC for tax reporting purposes. It’s also necessary for opening a business bank account and paying the employees of your LLC. 

If you run a multi-member LLC, you must get an EIN. For a single-member LLC, you can use your social security number as an EIN. However, get an EIN even for a single-member LLC in case you decide to hire employees in the future.

Maine LLCs are required to have a business checking account that helps keep the business finances separate from its members’ finances. Once you’ve got an EIN, opening a bank account should be a pretty straightforward process. 

Besides your EIN, you’ll need other documents like the LLC operating agreement, certificate of formation, etc. As a startup, one business checking account should suffice for streamlining your finances. As you grow, your LLC in Maine may need multiple accounts.

The Maine government does not require LLCs to get a general state-level business license. However, depending on the particular county or city your business operates in, you may have to get a municipal license or tax license.

The type of goods or services your LLC in Maine provides will also determine if you need to get an industry-specific license. You’ll need a license if your LLC provides financial services, healthcare, architectural services, construction work, etc.

The great thing about starting an LLC in Maine is that you get to choose whatever tax structure you want. Other business entities do not enjoy this flexibility. LLCs generally enjoy pass-through taxation, avoiding double taxation. 

As an LLC owner in Maine, you’ll pay Maine’s individual income tax at the rate of 5.8% to 7.15% of your income. If you choose to be taxed as a C-Corp, you’ll pay the 21% federal income tax rate and 3.5% – 8.93% graduated corporate income tax.

If your LLC in Maine has at least one employee, whether full-time or part-time, the state requires you to get worker’s compensation insurance. This type of insurance covers any work-related injuries that may occur from accidents or illnesses.

It is not a requirement to obtain property and liability insurance for your LLC in Maine. However, it is advisable to get them because they protect your company from property damage, injury claims, and lawsuits that may affect your finances.

When you start a new company, you need to create logos, brand colors, designs, and other elements that are unique to your brand identity. Getting a trademark will protect your brand elements from being copied by another business. 

You must first check with the patent office’s Trademark Electronic Search System to verify that there are no trademarks similar to yours. Then, submit your application to the U.S. Patent and Trademark Office (USPTO) and await approval.

Although this is not a mandatory step, it is highly recommended. One of the keys to staying ahead in a digital age is creating a website for your business. Ensure you design it with your brand logo, colors, and other unique brand elements. 

Your website should also have a domain name that matches your legally registered business name or DBA (doing business as). This makes it appear more professional and credible, thus attracting potential investors or business partners.  

After you’ve registered your LLC in Maine, you must keep up with certain ongoing compliance requirements mandated by state laws. You’re required to file an annual report with the Secretary of State. The legal deadline for this report is June 1.

The annual report verifies that you’re still a viable LLC in Maine operating under state laws. The filing fee for this report is $85 for domestic LLCs and $150 for foreign LLCs. You can also choose to file it online or print it out and submit it by mail. 

Tailor Brands’ Lite plan offers a convenient and affordable solution for entrepreneurs looking to establish their LLCs in Maine without breaking the bank: 

• LLC formation: Tailor Brands handles all critical legal paperwork for forming your LLC in Maine, ensuring accuracy and saving you valuable time and potential administrative headaches.
• Two-day processing: Your LLC in Maine will be officially formed within two business days, allowing you to quickly transition from planning to action and start building your business momentum.
• Business coaching: Receive expert advice on crucial topics like tax compliance, digital marketing, and strategic operational planning to help your Maine-based business establish a strong initial footing.
• Legal framework for LLC: Tailor Brands provides a robust legal foundation for your LLC, ensuring compliance with Maine’s state-specific laws and regulations. 

By selecting the Lite plan, you’ll efficiently create the legal framework for your LLC in Maine, enabling you to focus on your entrepreneurial vision. 

Price: Free

Tailor Brands’ Essential plan offers a well-rounded mix of speed, compliance support, and essential tools to help your business start strong and stay on track:

• Expedited LLC formation: Your LLC in Maine will be fully established within two business days, ensuring a rapid launch for your business venture. This way, you can bypass lengthy administrative delays. 
• Annual compliance support: Tailor Brands removes the complexity of maintaining your LLC in Maine by managing mandatory report filings and proactively notifying you of critical deadlines.
• Operating agreement assistance: Gain access to resources for developing a customized operating agreement that precisely defines your LLC’s structure and operational framework.
• Business coaching program: Receive expert guidance on crucial business dimensions, including tax compliance, digital marketing strategies, and operational planning. 
• $30 Amazon Gift Card: As a welcome gesture, Tailor Brands provides a $30 Amazon Gift Card. Use this thoughtful bonus to offset initial startup costs or invest in tools and resources for your LLC in Maine. 

The Essential plan is a fantastic choice for first-time business owners and those who prefer professional support for managing critical tasks like compliance and document creation. 

Price: $199/year

The Elite plan from Tailor Brands is the ultimate solution for entrepreneurs ready to form their LLC in Maine while simultaneously building a strong and professional brand identity: 

• Everything from the Essential Plan: Enjoy all the features you get with the Essential plan, including compliance support and coaching.
• Upgraded $50 Amazon gift card: Receive a more generous bonus to offset startup expenses or invest in essential tools for your LLC in Maine.
• 1-Year free domain: Secure a professional domain to establish your online presence and identity, as well as build credibility for your LLC in Maine.
• DIY website/online store builder: Easily create a customized website or ecommerce store using intuitive, drag-and-drop templates.
• Eight free professional logo designs: Choose from a collection of high-quality logos for your LLC in Maine. 
• Social media post maker: Design branded social media content to connect with your audience and enhance your online presence.
• Business card design tools: Create custom business cards that make a strong, lasting impression on clients and partners.
• Digital business card: Share the contact information for your LLC in Maine seamlessly with a single, professional link.

The Elite plan is an all-in-one package that offers unparalleled value, helping you start and grow your business with confidence, professionalism, and strategic support. 

Price: $249/year

Beyond the core LLC formation packages, Tailor Brands offers essential support services designed to help your LLC in Maine thrive. These comprehensive solutions ensure your business operates smoothly from day one: 

• EIN: Easily obtain an Employer Identification Number (EIN) for your LLC in Maine to simplify tax filing, open a business bank account, and hire employees efficiently. 
• Business Licenses and Permits: Tailor Brands helps you identify and apply for the necessary business licenses and permits to ensure your LLC complies with state and local regulations.
• Taxes and Bookkeeping: Simplify the financial management of your LLC in Maine with expert bookkeeping and tax preparation services, designed to keep your records accurate and your filings stress-free.
• Business Insurance: Protect your LLC with customized business insurance options, covering liabilities and ensuring peace of mind for you and your operations.
• Business Bank Account: Open a dedicated business bank account tailored for your LLC in Maine to keep your finances organized and streamline transactions.

With these additional services, Tailor Brands ensures your LLC in Maine is set up for success, providing the tools you need to grow confidently and efficiently.