Start a Free LLC in Maine
LLC Register forms your free Maine LLC, serves as your Maine registered agent and keeps your LLC in good standing. Maine charges $175 to file the Certificate of Formation with the Maine Department of the Secretary of State.

Maine LLC
- Maine LLC Formation
- Free
- Maine LLC Name Search
- Free
- Maine Registered Agent
- $99 per year
- Annual Compliance
- Free
- Maine State Filing Fee
- $175
Transparent Cost Guide to Form a Maine LLC with LLC Register
Every fee, line by line. The state fee is passed through at cost; there is nothing else to add at checkout.
| Cost item | LLC Register fee | Maine state fee | Estimated total | One-time or annual |
|---|---|---|---|---|
Maine LLC name search | $0 | $0 | $0 | Free |
Maine LLC business name generator | $0 | $0 | $0 | Free |
Maine LLC formation (certificate of formation) | $0 | $0 | $0 | Free |
Maine registered agent | $99 | $0 | $99 | Annual |
Maine LLC compliance (annual report) | $0 | $85 | $85 | Annual |
Maine state filing fee | $0 | $175 | $175 | One-time |
Maine LLC formation and annual compliance are included with the $99 annual registered agent service. You also pay the $175 state filing fee required by the Maine Department of the Secretary of State. That makes $274 in year one, and renewal is $99 per year, plus the $85 Annual Report (Form MLLC-13) fee paid to the state at cost.
Comprehensive 10-Step Guide to Form a Maine LLC
From the name search to your first annual report, in the order you will do them.
Step 1 — Choose a compliant Maine LLC name
Your Maine LLC name must include "limited liability company", "limited company" or an abbreviation such as "LLC", "L.L.C.", "LC" or "L.C.". It must be distinguishable from every other name on record with the Secretary of State, ignoring words like "company", punctuation and capitalization. Check that your name is available with the free Maine Department of the Secretary of State business name search before you file.
Name reservation: for $20 with Form MLLC-1; the reservation lasts 120 days and cannot be renewed
Step 2 — Select a registered agent in Maine
Every Maine LLC must name a registered agent to receive legal papers and state mail. Your registered agent can be a commercial agent listed with the Maine Secretary of State or a noncommercial agent, such as a member, with a physical street address in Maine. A P.O. box is not accepted, and the agent must consent to serve. LLC Register's Maine registered agent service is $99 a year and includes LLC formation and annual report filing.
Required by the Maine Limited Liability Company Act, Title 31 M.R.S.A. Chapter 21
Step 3 — Decide how the Maine LLC will be managed
Member-managed LLCs are run by their owners; manager-managed LLCs appoint managers to run the business. You choose the structure when you file the Certificate of Formation and set the details in your operating agreement.
Member-managed or manager-managed
Step 4 — File the Certificate of Formation with the Maine Department of the Secretary of State
Submit the Certificate of Formation (Form MLLC-6) and pay the $175 state filing fee. You can file by mail or in person with the paper Certificate of Formation (Form MLLC-6), which you complete on screen and print; Maine does not offer online LLC formation. Processing takes 40–55 business days, according to the Secretary of State's LLC forms page. Expedited filing is available for $50 extra (next business day) or $100 extra (same business day). We prepare and file it for you.
State fee: $175
Step 5 — Create an LLC operating agreement
Maine does not require an operating agreement, and you never file one with the state. Maine law recognizes written, oral and implied agreements, even for a single-member LLC. Ours is included and ready to sign.
Included with LLC Register
Step 6 — Obtain an EIN or FTIN
Get your federal Employer Identification Number from the IRS. It is free, and applying online gives you the number right away. You need it to hire employees, open a business bank account and file federal taxes; owners without a Social Security number apply with Form SS-4.
Free from the IRS · Form SS-4
Step 7 — Open a business banking account
Keep business and personal money apart to protect your limited liability. Banks usually ask for your filed Certificate of Formation, your EIN and your operating agreement.
Bring your formation document, EIN and operating agreement
Step 8 — Register for Maine taxes, permits and licenses
If you sell taxable goods or services, register for a Retailer Certificate (sales and use tax) with Maine Revenue Services through the Maine Tax Portal. Online registration is free. Before you hire, register for unemployment insurance with the Maine Department of Labor through ReEmployME, and for income tax withholding with Maine Revenue Services. Check with your city and county for local business licenses.
Tax agency: Maine Revenue Services
Step 9 — Consider other LLC documents
Such as a banking resolution, a Certificate of Existence (good standing) ($30), or foreign qualification if you operate in other states. If you use a brand name other than your LLC's legal name, file a Statement of Intention to Transact Business Under an Assumed Name (Form ASUM-5).
Certificate: $30 · DBA: $125
Step 10 — Set reminders for annual compliance
Maine requires the Annual Report (Form MLLC-13) every year. It is due between January 1 and June 1 every year. The first one is due between January 1 and June 1 of the year after your LLC is formed. We track the deadline and file it on time while your agent service is active.
State fee: $85 · Annual
Maine LLC Formation Facts Table
The official numbers, names and links for a Maine LLC, each checked against the state agency.
Maine LLC filing agency | Maine Department of the Secretary of State, Division of Corporations, UCC and Commissions |
|---|---|
Maine LLC formation document | Certificate of Formation (Form MLLC-6) |
Maine LLC filing fee | $175 |
Standard processing time | Processing takes 40–55 business days, according to the Secretary of State's LLC forms page. |
Expedited filing | Available for $50 extra (next business day) or $100 extra (same business day) |
Maine online business services | apps3.web.maine.gov/nei-sos-icrs/ICRS |
Maine LLC name search | swyftfilings.com/business-name-generator |
Name reservation | Available for $20 with Form MLLC-1; the reservation lasts 120 days and cannot be renewed |
Maine registered agent required | Yes |
Registered agent address rule | Your registered agent can be a commercial agent listed with the Maine Secretary of State or a noncommercial agent, such as a member, with a physical street address in Maine. A P.O. box is not accepted, and the agent must consent to serve. |
Can you be your own registered agent | Yes |
Maine registered agent service | /registered-agent/maine |
Annual or biennial filing | Annual Report (Form MLLC-13), every year |
Annual report state fee | $85 |
First compliance deadline | Between January 1 and June 1 of the year after your LLC is formed |
Recurring due date | Between January 1 and June 1 every year |
Late filing penalty | Filing after June 1 adds a $50 late penalty to the $85 fee. An LLC that does not file or pay is administratively dissolved. |
Annual Report (Form MLLC-13) filing | apps1.web.maine.gov/cgi-bin/online/aro/index.pl |
Franchise or privilege tax | Maine has no franchise or privilege tax on LLCs. The Maine franchise tax applies only to banks and financial institutions. |
State income tax on LLC profits | Maine taxes an LLC the same way the IRS does, so by default its profits pass through to the members' Maine income tax returns. LLCs with Maine income and nonresident members must withhold Maine tax for them and file Form 941P-ME. |
Sales tax permit | Retailer Certificate (Sales and Use Tax registration), issued by Maine Revenue Services |
Operating agreement required by law | No |
Newspaper publication required | No |
Series LLC allowed | No |
Professional LLC (PLLC) allowed | Yes |
Certificate of good standing fee | $30 (Certificate of Existence (good standing)) |
Foreign LLC registration fee | $250 (Statement of Foreign Qualification (Form MLLC-12)) |
Amendment fee | $50 (Certificate of Amendment (Form MLLC-9)) |
Dissolution fee | $75 (Certificate of Cancellation (Form MLLC-11C)) |
DBA (assumed name) filing | $125 (Statement of Intention to Transact Business Under an Assumed Name (Form ASUM-5)), filed with Maine Secretary of State, Division of Corporations, UCC and Commissions |
Maine LLC law | legislature.maine.gov/statutes/31/title31ch21sec0.html |
Free trademark search | trademarkengine.com/free-trademark-search |
Trademark registration | trademarkengine.com |
Virtual mailbox | snapmailbox.com |
Apply for an EIN (IRS) | irs.gov/businesses/small-businesses-self-employed/get-an-employer-identification-number |
Author: LLC RegisterLast reviewed 9/29/2026
Maine agency: Maine Department of the Secretary of StateLast reviewed 9/29/2026
Legal Requirements to Start a Maine LLC
What Maine law requires of every LLC, with the rule and the agency that enforces it.
A distinguishable LLC name
Your Maine LLC name must include "limited liability company", "limited company" or an abbreviation such as "LLC", "L.L.C.", "LC" or "L.C.". It must be distinguishable from every other name on record with the Secretary of State, ignoring words like "company", punctuation and capitalization. Search the name for free with the Maine business name search before you file. You can reserve a name for $20 with Form MLLC-1; the reservation lasts 120 days and cannot be renewed. The rules come from the Maine Limited Liability Company Act, Title 31 M.R.S.A. Chapter 21.
A Maine registered agent
Every Maine LLC must appoint and keep a registered agent in Maine. Your registered agent can be a commercial agent listed with the Maine Secretary of State or a noncommercial agent, such as a member, with a physical street address in Maine. A P.O. box is not accepted, and the agent must consent to serve. To change agents, file the CLKRA-3 Statement of Appointment or Change of Registered Agent ($35). LLC Register's Maine registered agent service is $99 a year and includes LLC formation and annual report filing.
The Certificate of Formation
Your LLC exists once the Maine Department of the Secretary of State accepts your Certificate of Formation (Form MLLC-6) and the $175 filing fee. You can file by mail or in person with the paper Certificate of Formation (Form MLLC-6), which you complete on screen and print; Maine does not offer online LLC formation. Processing takes 40–55 business days, according to the Secretary of State's LLC forms page. Expedited filing is available for $50 extra (next business day) or $100 extra (same business day).
An operating agreement
Maine does not require an operating agreement, and you never file one with the state. Maine law recognizes written, oral and implied agreements, even for a single-member LLC. Even where it is optional, a written operating agreement sets ownership, voting, profit splits and what happens when a member leaves, and banks often ask for one.
Annual Report (Form MLLC-13)
Maine requires every LLC to file the Annual Report (Form MLLC-13) every year for $85. It is due between January 1 and June 1 every year. The first one is due between January 1 and June 1 of the year after your LLC is formed. Filing after June 1 adds a $50 late penalty to the $85 fee. An LLC that does not file or pay is administratively dissolved.
State taxes and licenses
Maine has no franchise or privilege tax on LLCs. The Maine franchise tax applies only to banks and financial institutions. Maine taxes an LLC the same way the IRS does, so by default its profits pass through to the members' Maine income tax returns. LLCs with Maine income and nonresident members must withhold Maine tax for them and file Form 941P-ME. If you sell taxable goods or services, register for a Retailer Certificate (sales and use tax) with Maine Revenue Services through the Maine Tax Portal. Online registration is free. See the Maine Revenue Services for registrations.
Maine LLC Company Cost Comparison
Published prices for forming and keeping a Maine LLC, compared line by line.
| What you pay for | LLC Register | LegalZoom | ZenBusiness |
|---|---|---|---|
LLC formation service | $0 | $0 | $0 |
Maine filing fee | $175 | $175 | $175 |
Registered agent, first year | $99 | $249 | $99 |
Annual report filing | $0 | $99 | $100 |
First-year total | $99 + state fee | $249 + state fee | $99 + state fee |
Registered agent renewal | $99 per year | $249 per year | $199 per year |
Competitor prices are for each company's lowest-priced LLC package, as published on its own website on September 29, 2026. The Maine state fee is extra with every provider. Prices change; check each provider before you buy.
Why Form Your Maine LLC with LLC Register
One price, the whole bill up front, and your LLC kept in good standing every year.
$99 a year. That is the whole price.
The same $99 at renewal, every year. No tiers to compare and nothing pre-checked at checkout.
Formation included
We prepare and file your Certificate of Formation with the Maine Department of the Secretary of State. You pay only the $175 state fee, at cost.
A Maine registered agent
A physical Maine address for legal and state mail, with scans sent to you the same day.
Your annual compliance, handled
We track the Maine deadlines and file your Annual Report (Form MLLC-13) on time while your agent service is active.
Every fee shown before you pay
The cost guide above is the bill. State fees are passed through at cost and never marked up.
Support by email
Real people answer your questions by email, before and after your Maine LLC is formed.
Important Maine LLC Resources and Links
Official Maine offices, forms and data in one place. Every link goes to the source.
State government offices
- Maine Department of the Secretary of State101 State House Station, Augusta, ME 04333-0101 (courier/FedEx/UPS: 6 E. Chestnut Street, 5th Floor, Augusta, ME 04330) · (207) 624-7752
- Maine Revenue Servicesmaine.gov
- Maine Department of Labormaine.gov
- Maine Business Answers (Department of Economic and Community Development)maine.gov
Filing, forms and records
- Online business servicesapps3.web.maine.gov
- Business name searchapps3.web.maine.gov
- Certificate of Formation (Form MLLC-6) formmaine.gov
- Annual Report (Form MLLC-13) filingapps1.web.maine.gov
- Foreign LLC registration (Statement of Foreign Qualification (Form MLLC-12))maine.gov
- DBA (Statement of Intention to Transact Business Under an Assumed Name (Form ASUM-5))maine.gov
- Maine Limited Liability Company Act, Title 31 M.R.S.A. Chapter 21legislature.maine.gov
Taxes, permits and licenses
Maine business data and help
- Population and demographicsU.S. Census Bureau QuickFacts, Maine
- Small business statisticsSBA Office of Advocacy, 2025 state small business profiles
- Maine Small Business Development Centers (Maine SBDC)mainesbdc.org
- U.S. Small Business Administrationsba.gov
- SBA local assistanceFind SBA offices and advisors near you in Maine
More official Maine resources
- Limited Liability Company FormsAll Maine LLC forms and fees, including formation, name reservation, amendment, assumed name and cancellation.
- Maine Workers' Compensation BoardAlmost all Maine employers must carry workers' compensation coverage and file proof of it with the Board.
- Maine.gov business licensingState guide to occupational and business licenses, with links to the Business Answers licensing assistant; local licenses are handled by your municipality.
- Pass-through Entity Withholding (941P-ME)Maine Revenue Services rules for LLCs with Maine-source income and nonresident members.
- Maine trademark (mark) formsRegister a trademark or service mark with the State of Maine; for federal protection use USPTO.
Maine LLC FAQs
Short questions, direct answers about forming and running an LLC in Maine.
How much does it cost to start an LLC in Maine?
Per the Maine Department of the Secretary of State, as of September 2026, Maine charges $175 to file the Certificate of Formation. After that, the Annual Report (Form MLLC-13) costs $85 every year. With LLC Register, formation is included in the $99-a-year Maine registered agent service, so year one costs $274.
How long does it take to form an LLC in Maine?
Processing takes 40–55 business days, according to the Secretary of State's LLC forms page. Expedited filing is available for $50 extra (next business day) or $100 extra (same business day). Your LLC exists once the state accepts your filing.
How do I start an LLC in Maine?
To start an LLC in Maine, choose an available name, appoint a Maine registered agent, and file the Certificate of Formation with the Maine Department of the Secretary of State for $175. Then sign an operating agreement, get a free EIN from the IRS, open a business bank account and register for any state taxes. LLC Register files it for you as part of the $99-a-year registered agent service.
Can I form an LLC online in Maine?
No. You can file by mail or in person with the paper Certificate of Formation (Form MLLC-6), which you complete on screen and print; Maine does not offer online LLC formation. The Certificate of Formation costs $175.
What is the Maine LLC formation document called?
In Maine you form an LLC by filing the Certificate of Formation (Form MLLC-6) with the Maine Department of the Secretary of State. Other states call this document the articles of organization or the certificate of formation. The filing fee is $175.
Is there an expedited LLC filing option in Maine?
Yes. Expedited filing is available for $50 extra (next business day) or $100 extra (same business day). Processing takes 40–55 business days, according to the Secretary of State's LLC forms page.
How do I do a Maine LLC name search?
Use the Maine Department of the Secretary of State's free online business name search to check whether your LLC name is available. Your Maine LLC name must include "limited liability company", "limited company" or an abbreviation such as "LLC", "L.L.C.", "LC" or "L.C.". It must be distinguishable from every other name on record with the Secretary of State, ignoring words like "company", punctuation and capitalization.
What are the Maine LLC name requirements?
Your Maine LLC name must include "limited liability company", "limited company" or an abbreviation such as "LLC", "L.L.C.", "LC" or "L.C.". It must be distinguishable from every other name on record with the Secretary of State, ignoring words like "company", punctuation and capitalization. The rules are set by the Maine Limited Liability Company Act, Title 31 M.R.S.A. Chapter 21.
Can I reserve an LLC name in Maine?
Yes. You can reserve a name for $20 with Form MLLC-1; the reservation lasts 120 days and cannot be renewed. A reservation is optional; filing the formation document also secures the name.
Do I need a registered agent for my Maine LLC?
Yes. Every Maine LLC must have a registered agent. Your registered agent can be a commercial agent listed with the Maine Secretary of State or a noncommercial agent, such as a member, with a physical street address in Maine. A P.O. box is not accepted, and the agent must consent to serve.
Can I be my own registered agent in Maine?
Yes. A member or manager can serve as the LLC's noncommercial registered agent if they have a physical street address in Maine and consent to serve. Your address becomes public record, and someone must be there during business hours to accept legal papers.
Can I use a PO box for my Maine LLC?
Not as your registered agent's address. Your registered agent can be a commercial agent listed with the Maine Secretary of State or a noncommercial agent, such as a member, with a physical street address in Maine. A P.O. box is not accepted, and the agent must consent to serve. A PO box can usually serve as a mailing address, but the registered agent needs a physical address in Maine.
How do I change my registered agent in Maine?
File the CLKRA-3 Statement of Appointment or Change of Registered Agent with the Maine Department of the Secretary of State. The fee is $35.
How much does a registered agent cost in Maine?
Serving as your own Maine registered agent is free if you qualify. Commercial registered agents charge a yearly fee. LLC Register's Maine registered agent service is $99 a year and includes LLC formation and annual report filing.
Does Maine require an annual report for LLCs?
Yes. Maine LLCs must file the Annual Report (Form MLLC-13) every year. The state fee is $85.
When is the Maine LLC annual report due?
The Annual Report (Form MLLC-13) is due between January 1 and June 1 every year. Your first one is due between January 1 and June 1 of the year after your LLC is formed. It is filed with the Maine Department of the Secretary of State.
How much is the Maine LLC annual report fee?
Per the Maine Department of the Secretary of State, as of September 2026, the Annual Report (Form MLLC-13) state fee is $85. It is due between January 1 and June 1 every year. LLC Register files it for you at no extra service fee while your registered agent service is active.
What happens if I miss the Maine annual report deadline?
Filing after June 1 adds a $50 late penalty to the $85 fee. An LLC that does not file or pay is administratively dissolved. File as soon as possible to keep your LLC in good standing.
Does Maine have a franchise tax for LLCs?
Maine has no franchise or privilege tax on LLCs. The Maine franchise tax applies only to banks and financial institutions.
How are LLCs taxed in Maine?
Maine taxes an LLC the same way the IRS does, so by default its profits pass through to the members' Maine income tax returns. LLCs with Maine income and nonresident members must withhold Maine tax for them and file Form 941P-ME. Federally, a single-member LLC is taxed like a sole proprietorship and a multi-member LLC like a partnership, unless it elects to be taxed as a corporation.
Do I need a sales tax permit for my Maine LLC?
If you sell taxable goods or services, register for a Retailer Certificate (sales and use tax) with Maine Revenue Services through the Maine Tax Portal. Online registration is free.
How do I register my Maine LLC as an employer?
Before you hire, register for unemployment insurance with the Maine Department of Labor through ReEmployME, and for income tax withholding with Maine Revenue Services. You also need an EIN from the IRS before you run payroll.
Do I need a business license for my Maine LLC?
It depends on your industry and location: Maine regulates some professions and activities through state licenses, and many cities and counties require local business licenses. Start with the Maine Business Answers (Department of Economic and Community Development).
Do I need an operating agreement for a Maine LLC?
Maine does not require an operating agreement, and you never file one with the state. Maine law recognizes written, oral and implied agreements, even for a single-member LLC. LLC Register includes an operating agreement with every Maine LLC it forms.
Do I need an EIN for my Maine LLC?
You need an EIN if your LLC has employees or more than one member, and most banks ask for one to open a business account. A single-member LLC without employees can use the owner's Social Security number for federal taxes, but an EIN keeps it off business paperwork.
How do I get an EIN for a Maine LLC?
Apply for free on the IRS website once the state has approved your LLC; online applicants receive the EIN immediately. Owners without a Social Security number can apply with Form SS-4 by fax or mail.
Can a nonresident form an LLC in Maine?
Yes. You do not have to live in Maine or be a U.S. citizen to form a Maine LLC. You do need a registered agent with a physical address in Maine. Non-U.S. owners without a Social Security number apply for an EIN with IRS Form SS-4.
Can I form a single-member LLC in Maine?
Yes. Maine allows an LLC with a single owner. By default the IRS taxes a single-member LLC like a sole proprietorship, reported on the owner's personal return.
Does Maine allow series LLCs?
No. Maine's LLC Act does not provide for series LLCs.
Can licensed professionals form a PLLC in Maine?
Yes. Licensed professionals such as accountants, attorneys, dentists and veterinarians can form a professional LLC under Title 13, chapter 22-A, by checking the professional designation on Form MLLC-6.
Does Maine require LLCs to publish a formation notice?
No. Maine does not require newspaper publication to form an LLC.
How do I get a certificate of good standing in Maine?
Order a Certificate of Existence (good standing) from the Maine Department of the Secretary of State for $30. Banks, lenders and other states often ask for one as proof your LLC is current with the state.
How do I register a foreign LLC in Maine?
An LLC formed in another state registers to do business in Maine by filing the Statement of Foreign Qualification (Form MLLC-12) with the Maine Department of the Secretary of State. The fee is $250, and the LLC needs a Maine registered agent.
How do I amend my Maine LLC?
File the Certificate of Amendment (Form MLLC-9) with the Maine Department of the Secretary of State for $50. Amend when you change your LLC's name or other information in the formation document.
How do I dissolve an LLC in Maine?
File the Certificate of Cancellation (Form MLLC-11C) with the Maine Department of the Secretary of State for $75. Before you file, wind up the business: pay debts, close tax accounts and distribute what is left to the members.
How do I file a DBA for my Maine LLC?
File a Statement of Intention to Transact Business Under an Assumed Name (Form ASUM-5) with the Maine Secretary of State for $125 before you use the name. A DBA lets your LLC trade under another name without forming a new company.
Can my Maine LLC be taxed as an S corporation?
Yes. An eligible LLC can elect S corporation tax status by filing IRS Form 2553. The election can reduce self-employment tax once profits are high enough to pay yourself a reasonable salary. Maine taxes an LLC the same way the IRS does, so by default its profits pass through to the members' Maine income tax returns. LLCs with Maine income and nonresident members must withhold Maine tax for them and file Form 941P-ME.
What are the benefits of forming an LLC in Maine?
An LLC separates your personal assets from business debts and lawsuits, keeps pass-through taxation, and needs less paperwork than a corporation. In Maine it costs $175 to form and the Annual Report (Form MLLC-13) is $85 every year.
LLC vs sole proprietorship in Maine: which is better?
A sole proprietorship costs nothing to start, but you are personally liable for the business's debts. A Maine LLC costs $175 to form and protects your personal assets, with the same pass-through taxes by default.
Should I form my LLC in Delaware or Wyoming instead of Maine?
Usually not if your business operates in Maine. An out-of-state LLC doing business here must also register as a foreign LLC in Maine for $250 and keep a Maine registered agent, so you pay two states' fees.
Does LLC Register charge a separate fee to form a Maine LLC?
No. Formation is included in the $99-a-year Maine registered agent service. The state still charges its $175 filing fee, which we pass through at cost.
What does LLC Register include with a Maine LLC?
For $99 a year plus the $175 state fee: Maine LLC formation in year one, a Maine registered agent, an operating agreement, and filing of your Annual Report (Form MLLC-13) every year. Renewal is $99 a year. State fees are passed through at cost.
Does my Maine LLC need to file a BOI report with FinCEN?
No. FinCEN has exempted companies created in the United States from beneficial ownership information (BOI) reporting. Only foreign companies registered to do business in a U.S. state still have to report.
Which state agency handles LLC filings in Maine?
The Maine Department of the Secretary of State, Division of Corporations, UCC and Commissions, handles LLC formations, amendments and annual filings. Its office is at 101 State House Station, Augusta, ME 04333-0101 (courier/FedEx/UPS: 6 E. Chestnut Street, 5th Floor, Augusta, ME 04330).
Do I need a separate bank account for my Maine LLC?
Yes, you should. Mixing business and personal money can weaken the liability protection your LLC gives you. Banks usually ask for your filed Certificate of Formation, your EIN and your operating agreement.
Complete Maine LLC Glossary
The terms, documents and filings you will meet when forming a Maine LLC.
Annual report
A recurring filing that keeps your LLC in good standing with the state. In Maine it is the Annual Report (Form MLLC-13), due between January 1 and June 1 every year.
Articles of Organization
The document filed with the state to create an LLC. Some states call it a Certificate of Formation; in Maine it is the Certificate of Formation.
Assumed name (DBA)
A trade name your LLC uses instead of its legal name. In Maine you file a Statement of Intention to Transact Business Under an Assumed Name (Form ASUM-5).
Banking resolution
A document authorizing who may open and run the LLC's bank accounts.
Certificate of good standing
Proof from the state that your LLC exists and is current on its filings and fees. In Maine it is the Certificate of Existence (good standing).
Dissolution
Formally closing an LLC with the state. In Maine you file the Certificate of Cancellation (Form MLLC-11C).
EIN
Employer Identification Number: the nine-digit federal tax ID the IRS issues to a business.
Foreign qualification
Registering an LLC formed in another state so it can do business in Maine, through the Statement of Foreign Qualification (Form MLLC-12).
Franchise tax
A state tax some states charge for the privilege of doing business there. Maine has no franchise or privilege tax on LLCs. The Maine franchise tax applies only to banks and financial institutions.
Limited liability
The legal protection that keeps the owners' personal assets separate from the LLC's debts and lawsuits.
Maine Limited Liability Company Act, Title 31 M.R.S.A. Chapter 21
The Maine law that governs how LLCs are formed, run and dissolved.
Manager-managed LLC
An LLC run by appointed managers rather than by all of its members.
Member
An owner of an LLC. An LLC can have one member or many, and members can be people or companies.
Member-managed LLC
An LLC run directly by its owners, the members.
Operating agreement
The internal contract that sets out an LLC's ownership, voting, profits and what happens when a member leaves.
Pass-through taxation
The default federal tax treatment of an LLC: profits pass to the owners' personal returns instead of being taxed at the company level.
Professional LLC (PLLC)
An LLC for licensed professionals such as doctors, lawyers or accountants. Available in Maine.
Registered agent
The person or company with a physical Maine address named to receive legal papers and state mail for the LLC.
S corporation election
A federal tax election, made on IRS Form 2553, that lets an eligible LLC be taxed as an S corporation.
Series LLC
An LLC divided into separate series, each with its own assets and liabilities. Not provided for in Maine law.
Single-member LLC
An LLC with one owner. By default the IRS taxes it like a sole proprietorship.
