More Information on LLC's :

The LLC has advantages over the subchapter "S" corporation to include the following:

• LLC has no restriction on number of persons who may be stockholders; "S" corporations are limited to 35 stockholders;
• LLC may have multiple classes of stock; an "S" corporation can have only one issue of stock;
• LLC may own subsidiaries; an "S" corporation cannot own subsidiaries.

Maine Specific Filing Requirements:

• Limited Liability Companies in Maine have to identify themselves as being an LLC by including one of the following in their name: 'Limited Liability Company,' 'Limited Company,' 'L.L.C.,' 'LLC,' 'L.C.,' or 'LC.' In addition, Maine has special designations for low-profit Limited Liability Companies - LLCs that further some charitable or educational cause. Any LLC that qualifies as a low-profit limited liability company can designate itself as such with 'L3C' or 'l3c.'
• The Certificate of Formation filed with Maine must also indicate whether or not a professional LLC is being formed, give a filing date, and name a Registered Agent. The Registered Agent must either be a resident of Maine, or a Commercial Registered Agent authorized to act as such by the state.
• All Limited Liability Companies organized outside of Maine that wish to conduct business in the state must file a Statement of Foreign Qualification to Conduct Activities, present a Certificate of Good Standing/Existence from their home state, and pay a fee to the Secretary of State's office.
• The state generally completes filings within 3-4 weeks*, however with rush filing it takes about 1 week*.

Reasons to file a Maine Corporation:

• Separate yourself from the business and reduce your personal liability.
• Potential tax benefits not offered to Sole Proprietors & Partnerships.
• A C-Corporation has no limit on shareholders.
• Shareholders are not required to be United States Citizens in a C-Corporation.
• More professional business structure in the eyes of consumers.

Maine Specific Filing Requirements:

• The state does not require a business address located within Maine.
• The state generally completes filings within 3-4 weeks*, however with rush filing it takes about 1 week*.
• Director information is required on the Articles of Incorporation.

Reasons to file an Maine Non profit Corporation:

• A 501(c) organization, also known as a "non-profit", is an American tax-exempt non-profit organization.
• There is a deduction, for federal income tax purposes, for some donors who make charitable contributions to most types of 501(c)(3) organizations.
• There are 28 types of non-profit organizations that are exempt from some federal income taxes.
• When becoming a non-profit, you first must become incorporated as one in your state. Then the corporation can apply for the tax exempt status.
• To accept money or donations for a qualifying entity (such as churches, charities & civic leagues), a nonprofit entity should be filed.

Maine Specific Filing Requirements:

• The state does not require a business address located within Maine.
• The state generally completes filings within 3-4 weeks*, however with rush filing it takes about 1 week*.
• Director information is required on the Articles of Incorporation.

Reasons to file an Maine Professional Corporation:

• Professional corporations (abbreviated as PC or P.C.) are corporate entities that are required by licensing boards, for such professionals as attorneys, architects, engineers, public accountants and physicians.
• Legal regulations applying to professional corporations typically differ in important ways from other corporations.
• Professional corporations may exist as part of a larger, corporate entity. For example, a law firm or medical practice might be organized as a partnership of several or many professional corporations.

Maine Specific Filing Requirements:

• The state does not require a business address located within Maine.
• The state generally completes filings within 3-4 weeks*, however with rush filing it takes about 1 week*.
• Director information is required on the Articles of Incorporation.