Over the last several years the Pine Tree State has been growing and creating a business-friendly climate, and somewhat strong economic profile, despite the size of the state.
The recent progression with Maine’s business climate is evident with the state’ consistant efforts over the past few years by providing aspiring entrepreneurs and existing business owners with the opportunities to watch their businesses grow and flourish within the current economic climate.
Despite all the recent progression on a business and economic scale, Maine has always had a fantastic reputation for the state’s sheer beauty and unmatched quality of life, with the Thrillest ranking Maine 14th in terms of the most beautiful U.S. states.
Let’s get right into the upfront costs to register a company in Maine, whether that be an LLC, an Incorporated company, a partnership, a non-profit, or any other type of company or sole proprietor.
What is the cost to register a business in Maine?
One of the two different types of companies (most common) you may wish to form when starting and registering a business in Maine are:
- Maine Limited Liability Company (LLC)
- Maine Incorporated Company (Inc.)
Of course, there are other types of structures such as sole proprietorship, a limited or general partnership, and non-profit, but the most common two are the limited liability company and corporation.
When it comes to registering your company in the U.S., it is important to be aware that the registration and renewal costs differ depending on which state you decide to register in. The type of business structure you decide on will also determine the specific costs.
If you would like to pay for the services of a formation and business filing services company to register your Maine business the right way, they can do it for an affordable fee that ensures it is done properly and all the correct documents are filed according to the law. They will also take care of all the after-formation procedures so your business is compliant with Maine law and legally registered.
How much does it cost to register a company in Maine?
- Maine LLC Initial Registration: $175
- Maine Corporation Initial Registration: $250
- Maine Non-Profit Initial Registration: $40
- Foreign LLC Initial Registration: $250
(this is so an out-of-state LLC can obtain a foreign qualification to do business in Maine)
- Foreign Corporation Initial Registration: $250
(this is so an out-of-state Inc. can obtain a foreign qualification to do business in Maine)
- Limited Partnership (LP) Initial Registration: $175
- Limited Liability Partnership (LLP) Initial Registration: $175
- Sole Proprietorship Initial Registration: There is no set registration fee and it varies based on the type of sole proprietor business you are setting up.
The costs to register a business in Maine noted above are the total fees you must pay but do not include several optional fees that are offered by the Maine Secretary of State (Corporations Division).
How much does it cost to renew a company in Maine?
According to Maine law, all entities conducting business in Maine are required to file annual reports with the Secretary of State (Corporations Division).
Annual Fees to renew your business in Maine:
- Annual Fee for an LLC in Maine: $85
- Annual Fee for a Corporation in Maine: $85
- Annual Fee for a Maine Non-Profit: $35
- Annual Fee for a Limited Partnership (LP): $85
- Annual Fee for a Limited Liability Partnership (LLP): $85
- Annual Fee for a Limited Liability Limited Partnership (LLLP): $85
The above annual reporting fees for businesses are the minimum you must pay, and there are optional fees and additional state fees a business entity may need to pay should you wish to make changes during the year, rather than when your annual renewal is filed.
Maine Secretary of State Mailing Address and Contact Information
If certain changes are made by an LLC, Corporation, or Partnership throughout the year, such as amending the Articles of Organization or changing the registered agent, officers, or managing members, the Maine Secretary of State’s office must be notified on the appropriate form and a fee must be paid.