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How To Get A Maine Business License

It is important for every business to have licenses to sell products and services that they are offering in each state. In the state of Maine, regardless of the type of business you are running, proper licensing is mandated. That being said, not every single business in Maine is going to need a business license. It just depends on the type of activity that you are participating in. To find out what you need, you can contact the state of Maine Department of Economics and Community Development For more information regarding your business. While you are setting up your business, you may want to consider setting up an LLC in Maine to protect your personal assets. This is not mandatory, but it does have certain tax benefits and will provide you with protection from those that may file civil lawsuits against you and your business.

 

Why You May Want To Have An LLC For Your Company

An LLC is essentially a separate entity from yourself. This is how you are able to benefit from creating one. It will shield you from any type of litigious activity that may come from customers that may be disgruntled regarding the products and services that you offered. This is something that must be done through the Secretary of State’s office. You must obtain the proper forms in order to start your limited liability company.

 

What Forms Are Needed For LLCs In Maine

The first thing that you will need to do is do a search for the name of the business that you would like to use if you do not have one. You do have one, you still need to do a search to make sure that the exact name you are looking for has not already been taken. If it is available, you can then start the process of filing paperwork to form your LLC. This will include a Certificate of Formation, the Operating Agreement, and you must also find a registered agent. If you will be employing people, it is essential that you get an EIN number for tax purposes. You are required to do several things if you have an LLC, one of which is filing annual reports.

 

Maine Business License

 

How Much Does It Cost?

For the small fee of hundred and $75, you can pay for the formation of your LLC. You will file this Certificate of Formation directly with the main Secretary of State. This legal document allows you to have a limited liability company in the state of Maine that can provide you with many benefits.

 

The Benefits Of An LLC In Maine

The first and foremost benefit of having an LLC in Maine is the protection that it provides. Creditors cannot come after you, or the studio, as a result of having a bad experience with your company. There is also what is called a Note Privilege Tax, and this is one of the reasons people file LLCs in this state. This is because there is no privilege tax, or franchise tax, applicable to businesses that have been LLC. In more layman’s terms, your business will not be subjected to paying any type of state tax regardless of your income or net worth. Finally, and perhaps the most unique benefit is there is no obligation to provide Minutes of meetings. This is very different from a corporation and makes it easier for those that have limited liability companies.

 

Are There Any Business Incentives For Doing This?

The business incentives are limited to certain types of businesses. For example, if you are in the financial services industry, biotech industry, or the environmental technology industry, you can enjoy corporate tax credits. Likewise, you may also receive assistance to run your business, receiving and maximum of $500,000. If you are able to fill out the paperwork and get this approved, all of these benefits can be yours. Unfortunately, this can be very difficult for people to complete this process. That’s why working with a certified company that can form LLCs is likely your best choice.

This overview of how to get a business license in Maine can help you connect with the right people. They will be able to tell you if you need a business license, and if you do, what type of business license will be applicable to your company. However, you may have also noticed how valuable it is to form an LLC in the state of Maine. If you would prefer not to do this work on your own, always work with a reliable business that can help you set up your limited liability company for you. They will help you complete your Certificate of Formation, Operating Agreement, and connect you with a registered agent. If this has been helpful, consider learning more about the process of forming your Maine LLC.