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Maine Annual Report

Date: 07/06/2015 | Category: | Author: Jakub Vele

Annual Reports for Maine Corporations & LLCs

Annual reports are due by June 1st and the cost is $85 for corporations and LLCs.

If you need help, we can file the annual report for you. Our fe is only $15. To order our service, please click on the following link:

Order Maine Annual Report Service

Additional Services

Date: | Category: | Author: Jakub Vele

Maine Additional Services

TAX ID (Employment Identification Number - EIN) - FREE

Self-Service: Obtaining a Tax ID number doesn’t cost any money. You can apply by phone, fax or mail. You can also call toll free at (800) 829 4933 and get EIN instantly over the phone. If you apply by fax, it takes about 4-5 business days. If you apply by mail, it takes about 3-4 weeks. Please find information about Tax ID – EIN here.

Full Service: Do you need assistance with obtaining a tax ID? We can help prepare the form and obtain the tax ID for $45. Order here Tax ID.

S CORPORATION STATUS ELECTION

What is “S Corporation”?: An “S Corporation” is a corporation that elects to be taxed under Subchapter S of the Internal Revenue Code and receives IRS approval of its request for Subchapter S status. As a legal entity (an artificial person), the S corporation is separate and distinct from the corporation’s owners (the stockholders). Under Nevada incorporation law, there is no distinction between a C corporation and an S corporation. The incorporation process is the same. However, the two type of corporate entities are subject to differing federal and state tax treatment. Our cost is $45. Order S Corporation filing here.

CORPORATE KITS

Corporate kits start at only $82.50. LLC and INC. Click here to order corporate/LLC kits for any U.S. state.

MAINE CERTIFICATE OF GOOD STANDING

A certificate of good standing (certificate of existence) is a document issued by the Secretary of State certifying that your corporation does exist legally and that it is in good standing with the state. We can obtain one for you. The fee is $89 + state fee.

MAINE APOSTILLE

In 1981, the United States joined the 1961 Hague Convention abolishing the Requirement of Legalization for Foreign Public Documents. The Convention provides for the authentication of public (including notarized) documents to be used in countries that have joined the convention. Apostille of Articles of Incorporation or other document is issued by the Secretary of State. Price is $89 + state fee.

MAINE REINSTATEMENT OF CORPORATION/LLC

If your charter was revoked and you want reinstate the company, you have to pay all due fees and penalties and file appropriate annual reports.

Do you need somebody to handle reinstatement for you? Please contact us! We charge $89. We can find out how much money you owe for state fees.

MAINE AMENDMENTS OF ARTICLES

There are times when a business needs to change the information included in the Articles of Incorporation or Articles of Organization. To do this, you need to file an amendment with the Maine Secretary of State. Some reasons a business may need to file an amendment are to change the company’s name, to expand or alter the company’s business purpose, or to change the number of authorized shares or par value (for corporations only).

Do you need somebody to handle the filing of amendment for you? Please contact us! We charge $89 + state fees. Pay by PayPal (our email address is paypal@https://incparadise.net).

FOREIGN QUALIFICATION (all U.S. states)

Registration of foreign company qualifying to conduct business in other states: If your company expects to transact business outside your state of formation, your company may be required to qualify as a “foreign corporation” or “foreign LLC.” We can file the necessary paperwork to qualify your business as a foreign corporation or LLC in any of the 50 states.

Do you need somebody to handle foreign qualification for you? Please contact us!

Read more information about Foreign Qualification here
Foreign qualification fees

U.S. ADDRESS FOR PERSONAL OR BUSINESS USE AND MAIL FORWARDING

Do you need U.S. street address as your mailing address. Mail is forwarded once a week. We offer mail forwarding service based in Las Vegas, NV.

There are two options:
$150 per year. $2.50 per mailout plus postage.
$99 per year. $5.50 per mailout plus postage.

To order mail forwarding, click here.

BUSINESS LICENSE REPORT

Business licenses are mandatory for every business in the USA to operate legally. You may require federal, state, local licenses, permits, and tax regulations for your business.

Obtaining business licenses and permits is a daunting and time-consuming process as it entirely depends on the business industry, location, etc. IncParadise makes the business license process easy for you by delivering a report that lists the required federal, state, local licenses, permits, and tax regulations. Our expert research team searches, identifies and verifies the local, state, and federal licenses and permit requirements for your business type and location. They then send you the report with a list of these business license requirements so that you can save yourself time and effort.

Order Business License Report

TOLL-FREE NUMBERS

We offer the best toll-free numbers on the market. Nationwide businesses, mid-sized and small businesses, and families can order toll-free 800 services and get a number that rings directly to your home or business. Redirect it to your fax machine or cell phone and back as you change locations. Track calls on the Internet in real time. Select an easily remembered vanity number for your business. You will get: custom routing, voice mail, inbound faxing, website account management, call recording, lead generation, vanity numbers, national toll-free database search and much more!

More information here.

FAQ

Date: | Category: | Author: Jakub Vele

Maine Incorporation Frequently Asked Questions

Do I need to reserve a corporate name?

No, but it is recommended to reserve a name prior to filing to ensure that it remains available during the incorporation process.

How do I reserve a corporate name?

The reservation of your corporate name will be handled by IncParadise and is included in the price of our service.

Do I have to renew my name registration?

No.

How do I incorporate in Maine?

When using our service, IncParadise will file, on your behalf, the required administrative forms and articles of incorporation with the appropriate Maine agency.

Is a registered agent required?

Yes. In Maine a registered agent is also referred to as a Clerk. The registered agent/clerk must be (1) an individual Maine resident or (2) a corporation, foreign or domestic, authorized to do business or carry on activities in Maine. As part of our ongoing service, IncParadise does provide a registered agent service option that you can select during the online registration process.

How many Incorporators are required to form a corporation in Maine?

One or more.

How many Directors are required to start a corporation in Maine?

One or more, to be stated in the bylaws.

Are corporations in Maine required to file an Annual Report?

A report must be filed each year, except for the first year of incorporation. This report must be filed each year between January 1 and June 1 in the calendar year following the year of incorporation.

Didn’t find answer to your question? Email as at info@incparadise.com

Why Maine?

Date: | Category: | Author: Jakub Vele

Why incorporate in Maine?

Business Information & Rankings

  • Maine ranked 19th on the Cost-of-Doing-Business Index. (Milken Foundation, 2005
  • Maine has the 5th Fairest State Tax System in the nation. (Corporation for Enterprise Development.)
  • Maine was one of 10 states to receive an ?A? in the Corporation for Enterprise Development’s 2005 Assets and Opportunity Scorecard.

Cost of Living Index

There is no government data available on the cost of living in Maine.

Crime Rate

Maine has the 5th lowest crime ranking in the U.S. (F.B.I., 2004)

Fees & Taxes

Business Inventory Tax
Business inventory is exempt.

Corporate Income Tax

First$25.0003.5 %
Next$50.0007.93 %
Next$5.0003.0 %
Next$175.0008.33 %
Over$250.0008.93 %

Alternative minimum tax imposed equal to the amount by which the state minimum tax (27% of adjusted federal tentative minimum tax) exceeds Maine income tax liability, other than withholding tax liability.

Personal Income Tax
Maine’s personal income tax system consists of four brackets with top rate of 8.5% starting at an income level of $16,699.

Personal Property Tax
All real and tangible personal property located in the state of Maine is taxable unless specifically exempted by statute. Maine does not levy an intangible personal property tax.

Property taxes vary and are assessed locally, but a statewide program enables businesses to recoup taxes paid on new personal property. Qualified property placed in service after April 1, 1995, is eligible for a full State reimbursement for a maximum of 12 years. Eligible property includes any machinery and equipment used exclusively for business purposes, except office furniture and lighting fixtures.

State Sales and Use Tax
Base Rate: 5.0%
Machinery Rate: None

An exemption on the sales of machinery and equipment used by the purchaser directly in producing tangible personal property to be sold or leased for final use.

Unemployment Insurance
Maine’s new employers’ rate is 1.73% for 1 year.

Advantages of Incorporating a Business in Maine

Date: 08/28/2018 | Category: | Author: Jakub Vele

Advantages of Incorporating a Business in Maine

Maine, a business friendly state has witnessed an increase in its GDP from $46.62 billion in 2000 to $52 billion in 2006 and in 2017; it increased to $52.8 billion. Some of the industries that have shown steady growth in this billion dollar economy include manufacturing, management of companies and enterprises, arts, entertainment & recreation, healthcare and social assistance, and accommodation and food services. The growing business economy is responsible for the rise in the number of startup companies in Maine.

Advantages of setting up an LLC or Corporation

There are several advantages or benefits that business can enjoy when they register a new company in Maine. One of the primary benefits is that the labor costs are 6% less than the national per capita rate, which transforms into savings. If you were to set up an LLC or a corporation in Maine, then the specific advantages of these two types of entities are:

Advantage#1: Salient benefits of Corporation or LLC formation

Corporation

  • Independent Life: If you register a new business in Maine as an S Corporation then it will enjoy an independent life. The business entity will continue operations undisturbed even if it faces the death of one of its stockholders.
  • Raise additional Funds: If you register a new company in Maine as a C Corporation then the business entity will be able to raise additional funds through the sale of stock.
  • Change in Ownership: If you have formed an S Corporation in Maine then sale, and purchase of stock will be able to facilitate changes in ownership.

LLC

  • Limited Liability: The owner of an LLC startup company in Maine will be able to enjoy limited liability protection, which means creditors can sue the LLC but not the owner or investors.
  • No Privilege Tax: One of the benefits for LLC’s in the state of Maine is that there is no franchise or privilege tax applicable to businesses. As a result, the business entity will not be subject to any state tax on the net worth or income.
  • No Minutes of meetings: Unlike a corporation, an LLC startup company in Maine will not be required to maintain any minutes of the meetings or resolutions.

Advantage#2: Business Incentives

Apart from the specific advantages of corporation and LLC, if you register a new business in Maine, there are several benefits that your business can leverage from. These benefits are considered as business incentives and are provided by state and federal agencies. Some of the most popular incentive programs include:

  • Pine Tree Development Zones (PTZ): This is one of the most popular business incentive programs. In order to enjoy the benefits, you have to register a new company in Maine especially in the development zones and in eligible sectors, which are:
    – Financial Services
    – Aquaculture and Marine Technology
    – Biotechnology
    – Composite Materials Technology
    – Advanced Technologies for Forestry and Agriculture
    – Environmental Technology
    – Information Technology
    – Manufacturing and Precision Manufacturing
    As a part of this program, the business entity will be able to enjoy corporate tax credits as well as sales and use tax exemptions on real and personal property.
  • Finance Authority Of Maine: This is a quasi-governmental agency that provides a wide variety of financing options to startup companies in Maine. The financing options include:
    – Maine Rural Development Authority: This provides financial assistance to business entities with maximum funding of $500,000.
    – New Markets Capital Investment Credit: As a part of this option, an investor including a business entity that makes a qualified equity investment especially in a business that is considered to be a part of a low-income community, can get investment credit that is equal to almost 39% of the investment.

If you register a new business in Maine, there are several other incentive programs that you can benefit from including Technology Tax Credits, Community Development Block Grant Program, Maine Manufacturing Extension Partnership (MEP), Employment Tax Increment Financing (ETIF), Business Equipment Tax Exemption (BETE), and Business Equipment Tax Reimbursement (BETR) among others.

Are there any Disadvantages of Incorporating in Maine?

Are you wondering if there are any disadvantages if you register a new company in Maine? The disadvantages are very few and almost inconsequential. For example, the time taken for registration of a corporation is longer as compared to a partnership or the fee for foreign LLC’s and corporations is higher than that of domestic business entities. The truth is that the advantages of doing business in this state are much more and will enable your business achieve its intended growth.

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Maine Business License

Date: | Category: | Author: Jakub Vele

Maine Business License

How do you make your business operational in Maine? Registering your business is one way but that is only half of the work done. You will have to apply for a business license or permit depending on the type of business you have. Once you have the required permit or license, you can operate your business from anywhere in the state.

Maine Business License Requirements

How do you obtain a business license in Maine? Does your business require a license or a permit? Who is the issuing authority for these licenses or permits? These are some of the important questions that you might be confronted with and hence, we have created a guide that will help answer some of these questions.

Let us look at a step-by-step approach towards acquiring a Maine company license or a permit.

Step-1: Identify the Industry or Type of Business

Which industry is your business entity a part of? It is important to know that the state of Maine does not provide licenses to all types of businesses. Some of the businesses may require local permits or business license in Maine issued by city or county authorities. The nature of permit or license issued by the state depends on the type of industry. Some of the industries or type of businesses wherein a license is issued by the state include:

  • Gaming Industry
  • Liquor
  • Agriculture Industry
  • Food Establishment

You are probably asking: What type of Maine company license or permit is issued by county or city authorities? This depends on the city or county where your business has been registered or is established or plans to operate from. Let’s look at the following examples to understand this well:

PORTLAND, MAINE

If you are planning to set up your business in Portland then the business license and permits are issued for the following industry or type of business:

  • Circus License
  • Massage Establishment
  • Mobile Food Service
  • Temporary Food Service
  • Transient Sellers Permit
  • Outdoor Dining Public or Private Property

There are several other businesses that will require a Maine company license or permit issued from the county or city office.

BATH, MAINE

If you are planning to set up your business in Bath then the business license and permits are issued for the following industry or type of business:

  • Gasoline
  • Pin Ball & Gaming Machines
  • Disposal – Commercial
  • Transient Sellers of Consumer Goods
  • Victualer – Mobile Food Service
  • Victualer – Restaurant

There are several other businesses that will require a Maine company license or permit issued from the county or city office.

Step-2: Apply for a Business License

Now that you know the type of business or the industry, it is time to understand the application procedure. The processing and the fee for a Maine company license vary according to the industry or type of business and where the business is situated. Here is an example that will help you understand how the process works:

PORTLAND, MAINE

If you are planning to set up a Mobile Food Service in Portland then here is the information regarding the business license:

  • The Application Fee: $45
  • Health Inspection Fee: $150.00
  • Food Truck License Fee: $546
  • If you are planning to operate in the “Night” (10 p.m. to 6 a.m.) then there is an extra fee of $218

Business License is issued by: Permitting and Inspections Department

License Expiry and Renewal: Expires annually on March 31

MAINE STATE LICENSE

If you are planning to set up a Retail Food Establishment in the state then here is the information regarding business license in Maine:

  • Establishment with 0 to 10 employees: $20
  • Establishment with 11 to 25 employees: $50
  • Establishment with 26 or more employees: $150

Business License is issued by: Maine Department of Agriculture, Conservation & Forestry

Division of Quality Assurance and Regulations

License Expiry and Renewal: The license issued is for a one year period and expires annually

In order to procure the correct business license in the state of Maine, it is extremely important to approach the right licensing authority.

If you require any information regarding registration of your business in Maine, please feel free to call us on 702-871-8678.

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