Form a S-Corp in Maine
Everything you need to know about forming a S-Corp in Maine. Filing fees, requirements, timeline, and step-by-step guidance.
How to File
Choose Corporate Name
Select an available name ending with Corporation, Corp., Incorporated, or Inc. Check availability through Maine Secretary of State database.
30 minutes
Appoint Registered Agent
Designate a registered agent with Maine address to receive legal documents and official correspondence.
15 minutes
Prepare Articles of Incorporation
Complete Form MBCA-6 including corporate name, registered agent, authorized shares, and incorporator information.
45 minutes
File Articles with Secretary of State
Submit completed Articles of Incorporation with $145 filing fee to Maine Secretary of State by mail or online.
15 minutes
What's Next After Filing
Once your S-Corp is officially formed, you'll want to complete these important steps:
- •Obtain EIN from IRS — Apply for Federal Employer Identification Number directly with IRS online, by phone, or mail.
- •File Form 2553 for S-Corp Election — Submit IRS Form 2553 within 75 days of incorporation to elect S-Corporation tax status.
- •Create Corporate Records — Adopt bylaws, issue stock certificates, hold organizational meeting, and maintain corporate record book.
Advantages
- ✓Pass-through taxation eliminates double taxation on corporate profits
- ✓Limited liability protection for shareholders from business debts and claims
- ✓Enhanced credibility and professional image with customers and vendors
- ✓Easier transfer of ownership through stock sales compared to other structures
Considerations
- •Strict IRS requirements including single class of stock and citizenship restrictions
- •Required payroll taxes on owner-employee wages even for small businesses
- •Limited to 100 shareholders and cannot have corporate or partnership owners
Annual Obligations
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