Legal Bueno

    How to Start Your LLC in Maine

    Legal Bueno helps with everything you need to start your business. We take care of all the paperwork so you don't have to worry about it. Want to learn more about the process we handle? Keep reading!

    Quick Summary:

    • Filing Fee: $175
    • Turnaround time: NO ONLINE FILINGS

    How do I start an LLC in Maine?

    Thinking about starting an LLC? The process is pretty similar across the states. You'll start by picking a unique name for your business (you'll need to check to make sure it hasn't been taken!) and then filing some paperwork—usually called Articles of Organization or a Certificate of Formation—with your state's agency.

    If you want to check the name availability for Maine, visit https://apps3.web.maine.gov/nei-sos-icrs/ICRS.

    After that's taken care of, you'll want to draft a governing doc for your business called an operating agreement & find any licenses you might need. Just keep in mind that each state has its own little quirks, so it's always a good idea to double-check specific requirements for your area.

    What are the costs & processing times of starting a business in Maine?

    Here's the rundown for Maine:

    • The filing fee is: $175
    • There are ongoing fees of $85 (every year)
    • It usually takes NO ONLINE FILINGS if you're filing online or 10-15 business days (plus mail time) if by mail.

    Why Maine is a great state for your LLC

    Starting a company in Maine offers several compelling advantages that can facilitate business growth and success:

    • Tax Incentives and Credits: The Maine Department of Economic & Community Development provides various tax incentives specifically designed to support small businesses. These include credits for eligible businesses, which can significantly lower operating costs.
    • Access to Funding: Programs like the Small Enterprise Growth Fund can provide initial investments ranging from $150,000 to $350,000 for small businesses poised for growth. This access to capital can be crucial for startups looking to expand quickly and efficiently.
    • Simplified Business Structure: Establishing a Maine Limited Liability Company (LLC) is streamlined and user-friendly. The LLC structure allows entrepreneurs to benefit from:

    • Affordability: With a low filing fee of just $175, starting an LLC in Maine is an economical option for entrepreneurs, making it accessible for many.

    These factors combine to make Maine an attractive location for launching a business, especially for small to medium-sized enterprises looking to thrive in a supportive environment.

    Legal Requirements

    Remember! Legal Bueno will handle all of these requirements for you, but if you're interested, here are the legal requirements for Maine:

    Articles of Organization

    The certificate of formation must include:1. The name of the LLC;

    1. The information required by Me. Rev. Stat. tit. 5, § 105(1) and
    2. Any other matters the members determine to include. The certificate of formation may include the information required for a statement of authority according to Me. Rev. Stat. tit. 31, § 1542(1).

    In addition, an LLC agreement must be entered into or otherwise existing. The LLC agreement may be entered into either before, after or at the time of the filing of a certificate of formation.

    The LLC must have one or more members.

    Me. Rev. Stat. tit. 31, § 1531

    Filing fee: $175

    Filing Process

    After you've prepared the initial formation documents, you need to file it! Here is what Maine laws require for filing:

    Each document authorized or required to be delivered to the secretary of state for filing must satisfy the following requirements:1. The document must contain all information required by law but, unless otherwise provided by law, may not contain other information;

    1. The document must be legibly typewritten or printed in ink or, if electronically transmitted, it must be in a format that can be retrieved or reproduced in typewritten or printed form;
    2. If the secretary of state requires, use of prescribed forms is mandatory;
    3. A person's name set forth in the document need not be in English if expressed in English letters or Arabic or Roman numerals. Documents of a foreign person need not be in English if accompanied by a reasonably authenticated English translation.
    4. The document must be delivered to the secretary of state for filing. Delivery may be made by electronic transmission if and to the extent permitted by the secretary of state.
    5. At the time of delivery of the document, the correct filing fee and any reinstatement fee or penalty must be paid.

    Me. Rev. Stat. tit. 31, § 1673

    Additional Legal Considerations

    Here are some additional relevant laws that might be useful when operating your business in Maine:

    LLC agreement–scope, function, and limitations

    Me. Rev. Stat. tit. 31, § 1521

    Provisions that may not be modified by the LLC agreement

    Me. Rev. Stat. tit. 31, § 1522

    LLC agreement–effect on LLC and persons admitted as members; preformation agreement

    Me. Rev. Stat. tit. 31, § 1523

    LLC agreement–effect on third parties and relationship to records effective on behalf of LLC

    Me. Rev. Stat. tit. 31, § 1524

    Certificate of existence–certificate of qualification; certificate of fact

    Me. Rev. Stat. tit. 31, § 1664

    Annual report for secretary of state

    Me. Rev. Stat. tit. 31, § 1666