Creating Your LLC
We are often asked about the process of creating an LLC. There are several steps involved depending on the type of LLC you are creating. This is a general overview of steps and costs.
1. Name - You need to come up with a name for your new company that no one else in Maine is using. We can verify the name for you or you can check out the State of Maine Corporate Name Search here.
2. Operating Agreement - After you have signed a fee agreement with us, we will begin by verifying the name is available and then we will draft your Operating Agreement. This document actually creates your new company and acts as the "constitution" for the company. It tells you what you can, cannot, and must do. We keep this document flexible and customized to your needs
3. State Filing - We then need to file a Certificate of Formation with the State of Maine. The State charges $175 for this filing and it takes roughly one month before we receive the attested certificate back. You also need to select a registered agent to accept service of process for you. We offer this service to our clients.
4. EIN - We file the necessary documents to acquire your Employer Identification Number. You will need this number to do almost anything with an outside entity.
5. S-Corp - Many small businesses can benefit from changing their tax-filing status to S-Corp. This will save you from paying the "self-employment tax" and gives the business more available write-offs. You should check with your accountant to see if this is good for you.
6. Tax Certificate and Retail/Resale Certificate - If you thought you could get away from Maine taxes, you cannot. We file these documents for you if you plan to sell anything retail or if you need a Maine tax ID number.
Medical Cannabis/Marijuana Companies
In addition to the above, if you want to sell Cannabis/Marijuana in Maine, you also need the following:
1. Caregiver Card or Helper Card - Price depends on which level you choose.
2. Edibles License - If you choose to sell Edibles ($20 State Fee).
3. Commercial Kitchen License - If you want to make Edibles (price varies).