How To Start A Maryland Sole Proprietorship
When starting a new business, one of the first steps you need to take is choosing the business structure. In Maryland, many entrepreneurs opt for a sole proprietorship. But why is this choice so popular, and is it the right choice for you? In Maryland, a staggering 74.5% of all small businesses are sole proprietorships […]
How to Form a Corporation in Maryland
The Corporation is a business structure that provides personal liability protection by separating the owner’s personal assets from the assets of the business. Thus, a corporation is liable for the actions and finances of the business, while the owners (known as shareholders) are not. Corporation Pros Corporations provide liability protection for the shareholders A corporation can […]
How To Get A Free Maryland EIN
Not every small business will need one, but a common registration for many businesses in Maryland is the Employer Identification Number, otherwise known as an EIN. This number is used as a business’s identification for tax purposes and is required for various business activities, such as opening a bank account, hiring employees, and filing tax […]
How To File A Maryland Annual Report
One of the requirements of maintaining a Limited Liability Company (LLC), corporation, Limited Partnership (LP), or Limited Liability Partnership (LLP) in Maryland is filing an Annual Report. The Annual Report is used to confirm and update the company’s information each year with the Maryland State Department of Assessments and Taxation (SDAT). Related: How to form an […]
Maryland Business License Basics
Starting a small business in Maryland often means registering with several federal, state, and local agencies. Let’s review common Maryland business license registrations so your business starts off right. Related: Guide to starting a business in Maryland Setting Up the Business Sole proprietorship: In Maryland, a sole proprietorship is an unincorporated business owned by a […]
Guide To Hiring Employees In Maryland
Hiring your first employee as a new business owner is both an exciting and frightening experience. Not only do you have a person relying on you to pay them so they can provide for their family while balancing the cash flow needs of your business, but there is also a lot of paperwork and laws […]
How To Get A Maryland Resale Certificate
A Maryland Resale Certificate, also known as a resale license or reseller’s permit, is a document that allows Maryland businesses to avoid paying state sales tax on products that are purchased from wholesalers or manufacturers for the purpose of reselling them to customers. In order to purchase tax-free, the retailer will need to provide a […]
How To Register for A Maryland Sales Tax License
Most businesses starting in Maryland that sell a product or offer certain services will need to register for a Maryland sales tax license. This license is sometimes referred to as a seller’s permit, sales tax permit, sales tax number, or sales and use tax license. The sales tax license is obtained through the Comptroller of […]
Should You Use A Maryland Resident Agent Service?
A Maryland resident agent (also referred to as a registered agent or statutory agent in some states) is a person or company designated to be the official point of contact for a company. The purpose of a resident agent is to receive service of process (legal mail such as a summons, subpoena, or lawsuit) and […]
Maryland DBA / Trade Name Registration In 4 Easy Steps
If you’re planning to start a business in Maryland using a specific name, you may need to register for a business name. Business name registration is commonly referred to as a Maryland DBA or “Doing Business As,” but is officially called a Trade Name. To see if you need to register for a Maryland Trade […]