The power for incorporating in Maryland lies with the Maryland Secretary of State, Charter Division. This Division also keeps up with all corporate filings of record. The main location is in Baltimore. The chief types of business organizations structures in Maryland are Sole Proprietorships, General Partnerships, Corporations, Limited Liability Companies, Limited Partnerships, and Limited Liability Partnerships. Each type has distinct advantages and disadvantages, depending on the needs of your business. Selecting the appropriate organizational structure for your company is one of the most important decisions you will make.
Foreign and Domestic Corporations
A Domestic Corporation is one that was incorporated in the state of Maryland. The Articles of Incorporation must be filed with the Secretary of State.
A Foreign Corporation is a business that was incorporated in another country, state or jurisdiction besides Maryland. When a non-Maryland corporation makes a preliminary filing with SDAT that creates an account, that filing must be joined by written proof of existence from the home state that it came from, which is usually the same as a Certificate of Status.
Officers and documents
Officers in the corporation must be listed in the bylaws. A corporation is required to have at least a president, a secretary and a treasurer. An officer should serve for one year and then a successor should be elected unless noted in the bylaws.
Every Maryland corporation is required to have a resident agent. This is the person or office that is chosen to collect official state correspondence. The resident agent has to be either a resident of Maryland or a Maryland corporation.
The president, or other officer that is singled out in the bylaws, has to report a statement of affairs to the shareholders. This declaration must be presented at each yearly stockholders’ meeting and filed at the main office within 120 days after the end of the fiscal year.
Forming a corporation online
Incorporation in Maryland can seem like a discouraging endeavor. Nevertheless, it is very possible to incorporate online by filing the right forms in the correct order and this can be carried out remotely through our services. We offer complete packages to establish your corporation or LLC without neglecting essential steps or documents. Mistakes can be costly.
Incorporating online can be as straightforward as providing some initial information and deciding which nature of corporation best fits your requirements. CorpNet is available to help you start a corporation in Maryland and one-year Registered Agent Services is normal in our packages. We also have unlimited customer support.