Forming a Maine Limited Liability Company is an exciting step towards owning your business or personal assets. There are several steps involved in starting an LLC, but there are several documents you must send to the state for filing. The advantage of forming a maine llc is that it allows you to reap the benefit of tax advantages that accrue to owners of partnerships, corporations, LLCs and corporations. As the owner of a business, you have the option whether to register your business under your own name or under your spouse's name.
Filing a maine llc Application must be started by the main trustee. Filing with the state requires getting a state tax ID number from the IRS. Submit a duly completed application, including the necessary documents, to the Maine Secretary of Revenue. Submit a duly completed certificate of formation, including the notice of intent to register, by the main trustee.
Forming a Maine Limited Liability Company also involves getting an operating agreement, which clarifies who owns and controls the business. File a copy of the complete Operating Agreement with the state. Complete an assignment and transfer deed, which assign the LLC the legal title to the assets owned by the LLC. The main trustee must include the complete Operating Agreement in the LLC's file. You may have to pay a $100 filing fee for any of these documents.
Forming a Limited Liability Company - Maine Limited Liability Company Requirements
To set up a limited liability company in Maine, you must have a licensed Maine agent or attorney. He must file an article of incorporation with the state, obtain a title loan, register the LLC and deliver a copy of the articles of incorporation to the Maine Corporation Commission. The main trustee must provide a duplicate of the letter of agreement to the commission.
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The Articles of Organization must include a method for election of members and also describe how the LLC will be managed. Each member is given a copy of the Articles of Organization at the time of its filing. Each member has the right to appear and be heard at the meetings of the LLC. The Articles of Organization should contain the most current rules regarding how the LLC is organized and how it operates.
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Another requirement for Forming a Limited Liability Company in Maine is that each member signs a master agreement, which is a written contract between the members. This gives members the right to join the LLC and to transact business as members. This contract protects them from lawsuits and gives them greater personal liability protection than in a limited liability company. When the Articles of Organization are filed with the state, all member must sign the master agreement.
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LLCs are not required to get registered agents. However, when it comes to LLCs that want to have registered agents, they are encouraged to do so. Registered agents are needed because their responsibilities include answering phone calls and making sure the business is properly running. Without registered agents, LLCs cannot get business licenses in Maine. The registered agent can also help LLCs register with the state if necessary.
If you decide to Form an LLC in Maine, there are specific requirements that must be met. First, you need to file the Articles of Organization and pay the filing fees. Second, you also need to pay the required initial fee, which is part of the process of Forming an LLC in Maine. Once that is done, you are free to transact business as an LLC and enjoy the many benefits that come with having a limited liability company.
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