Start A Corporation In Maine

When you file your Articles of Incorporation, the business name that you list on your formation documents is the legal name of your corporation. A Doing Business As (DBA) name is any other name your corporation uses to do business. A DBA is also sometimes called a trade name, fictitious business name, or assumed name.

Maine requires DBAs be registered with the Secretary of State. You’ll have to fill out and file a Statement of Intention to Transact Business Under an Assumed or Fictitious Name. The total cost to register your DBA is $125, payable to the Secretary of State by mail or in person. While that may seem a bit steep, it’s important–registering your DBA prevents another business from using the name and is required by law.

Thinking about using a DBA? Learn How to Get a Maine DBA.

You sure can, but do you want to? Acting as your own registered agent means your name, address, and other private information go on the public record, which opens you up to spam email, junk mail, and annoying sales calls. Plus you’ll have to keep regular, nine-to-five business hours at your registered address, which might not work with your busy schedule as a business owner.

Yes. To change your registered agent in Maine, you’ll need to complete and file a Statement of Change form with the Secretary of State. The Maine Statement of Change must be submitted by mail or in person and costs $35 to file.

You can submit your certificate by mail or in person at:

Secretary of State
Division of Corporations, UCC and Commissions
101 State House Station
Augusta, ME 04333-010

You can get an EIN directly from the IRS. The application is free, and most businesses can apply online. However, if you don’t have a social security number, you’ll need to submit a paper application form. Can’t bear to fill out yet another application? Hire Northwest to get your EIN for you. Just add on EIN service during checkout when you sign up for our incorporation service.

The deadline to file your BOI Report depends on when you incorporated:

• Companies formed before 2024—January 1, 2025.
• Companies formed in 2024—Within 90 days of incorporation.
• Companies formed in 2025 or later—Within 30 days of incorporation.

New corporations must provide information about each beneficial owner and their company applicant. (Corporations formed before 2024 don’t need to give company applicant information.) You’ll also need to provide some basic company information.

Beneficial owner and company applicant information: 

• Full name
• Date of birth
• Residential or business street address
• Personal identification document (such as a driver’s license or passport), including the ID number

Company information:

• Legal business name
• Any DBAs/assumed business names
• Business street address
• State of incorporation
• Employer Identification Number (EIN)

Yes, but only if your corporation’s information changes. For instance, if your corporation changes owners or gets a new CEO, you’ll need to update your BOI Report. You have 30 days after the change occurs to file your updated report through BOSS. There is no cost to update the report.

No. Unlike the information on your Maine Articles of Incorporation, your BOI Report won’t go on the public record. The information on your report is only be accessible to government agencies, law enforcement, and financial institutions that need to confirm customer identity.

Yes, there are 23 classes of exemption from the BOI Report. The most common exemptions include:

• Large operating companies
• Most financial companies, such as banks and credit unions
• Investment companies registered with the Securities and Exchange Commission (SEC)
• Insurance companies registered with a state or federal agency
• Public utilities companies registered with a state or federal agency
• Tax-exempt entities

Corporate bylaws cover basic policies and procedures for issues such as company finances and management. Bylaws should cover a range of topics, answering key questions like those below:

• Directors and officers: How many directors must there be? Which officer positions are required? What powers do they have? How do you fill a vacancy or remove a director or officer?

• Meetings: When and where will meetings for shareholders and directors be held? How much notice is required before a meeting is conducted? How many attendees are required to transact business? What are the procedures for voting or proxy voting? How do you call a special meeting? What actions can be taken without a meeting?

• Stock: How are stock certificates issued and transferred? How is voting affected by issues such as corporate stock owners or fractional shares?

• Finances: What are the procedures for retaining profits, issuing dividends, and paying bills? Who can withdraw money from the corporate bank account or sign checks?

• Records: Where is the corporate book to be kept? What information will be maintained? How are requests for review or access honored? Can records or copies be kept or distributed digitally?

• Amendments and emergencies: Who can amend bylaws and how? Can emergency bylaws be adopted in the case of disaster?

Per 13-C ME Rev Stat § 206, bylaws can contain any provision, so long as it is consistent with law and the corporation’s Articles of Incorporation.

Creating bylaws can be overwhelming—where do you start? Northwest can help. We give you free corporate bylaws when you hire us to form your Maine corporation. We know what kinds of topics and questions corporations need to address, and we’ve spent years refining and improving our forms. We offer many other free corporate forms as well, including templates for resolutions and meeting minutes.

$85. Fail to file on time? The Secretary of State will charge most business entities a $50 late fee. If your report remains unfiled, your business may also be administratively dissolved or revoked of its right to conduct business within the state.

Your corporation’s annual report filing must be filed between January 1st and June 1st of the year following the calendar year in which your company was incorporated, formed or qualified. For example, if you filed your Articles of Incorporation between January 1, 2020 to December 31, 2020, your first annual report would be due by June 1, 2021.

These filings can be easy to forget—which is why we send our clients automatic reminders. Or better yet, let us file for you. With our business renewal service, we can complete and submit your annual report for you for $100 plus the state fee.

The state of Maine imposes an income tax on all corporations that have Maine-source income. For tax years beginning on or after January 1, 2018, corporate tax on adjusted federal taxable income is calculated using the following graduated rates:

3.50%: $0 to $350,000
7.93%: $350,001 to $1,050,000
8.33%: $1,050,001 to $3,500,000
8.93%: over $3,500,000

The state sales tax is a flat 5.5%. In Maine, cities and counties can’t add on local sales taxes, so you’ll pay the same 5.5% at the register from Kennebunk to Presque Isle. However, there are specialty rates for a few specific products and services. For example, prepared foods are taxed at 8% and hotels are taxed at 9%.

Yes, if you conduct business in Maine, you’re required to register with Maine Revenue Services. You can register via the Maine Revenue Services website or by filing a Maine Business Registration Application. You’ll need your EIN before you can register.