Form a Corporation in Maine
Everything you need to know about forming a Corporation in Maine. Filing fees, requirements, timeline, and step-by-step guidance.
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How to File
Choose a Corporate Name
Select a unique name for your corporation that includes a required designator such as 'Corporation,' 'Incorporated,' 'Company,' or an abbreviation thereof. Use the Maine Secretary of State's online name search tool to confirm the name is available before filing.
30 minutes
Appoint a Registered Agent
Designate a registered agent with a physical street address in Maine who will receive legal and official documents on behalf of the corporation. The registered agent can be an individual Maine resident or a business entity authorized to do business in Maine.
1-2 hours
File Articles of Incorporation
Prepare and file the Articles of Incorporation with the Maine Secretary of State, Bureau of Corporations, Elections & Commissions. The form must include the corporate name, registered agent information, number of authorized shares, and incorporator details.
1-2 hours
Pay the Filing Fee
Submit the $145 filing fee along with your Articles of Incorporation, either online via the Maine FastFiling system or by mail. Expedited 24-hour processing is available for an additional $50.
15 minutes
What's Next After Filing
Once your Corporation is officially formed, you'll want to complete these important steps:
- •Create Corporate Bylaws — Draft internal corporate bylaws that govern the management and operations of the corporation, including rules for shareholder meetings, board of directors, officer roles, and voting procedures. While not filed with the state, bylaws are legally important governing documents.
- •Hold an Organizational Meeting — Conduct the initial organizational meeting of the board of directors to adopt bylaws, appoint officers, authorize the issuance of stock, and address other foundational business matters. Document the meeting with formal minutes.
- •Obtain EIN and Fulfill Tax & Licensing Requirements — Apply for a federal Employer Identification Number (EIN) from the IRS, register with the Maine Revenue Services for state tax obligations, and obtain any required local or state business licenses or permits applicable to your industry.
Advantages
- ✓Limited liability protection shields shareholders' personal assets from corporate debts and legal judgments
- ✓Ability to raise capital by issuing multiple classes of stock and attracting investors, including venture capital
- ✓Perpetual existence means the corporation continues regardless of ownership changes or death of shareholders
- ✓Eligible to elect S-Corp tax status with the IRS to avoid double taxation and pass income through to shareholders
- ✓Enhanced credibility with customers, vendors, and financial institutions compared to unincorporated entities
Considerations
- •Subject to potential double taxation at both the corporate and shareholder level if operating as a C-Corp
- •More complex formation, governance, and compliance requirements compared to an LLC, including mandatory meetings and record-keeping
- •Higher ongoing administrative burden including annual reports, corporate minutes, and maintaining formalities to preserve liability protection
- •Greater regulatory scrutiny and costs associated with maintaining corporate structure, especially if publicly traded
Annual Obligations
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