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How Do I Form A Business in Maryland?

Business ownership is both rewarding and challenging. Requirements to pay quarterly taxes, issues of adequate insurance, obtaining the financing necessary for a startup and the general day-to-day operations all create issues for resolution. Perhaps the most significant decision to be made is learning how to properly form your business. 

How Do I Form A Business in Maryland?Incorporation of businesses in Maryland requires proper completion of several forms. The forms are detailed and require a significant amount of information. Hiring a reliable attorney who has experience in matters of taxation is your best bet to ensure proper incorporation of your business. Issues to discuss when taking your vision to reality include: 

  • Classification: Businesses can take one of many forms. Among the forms a business can take are limited liability companies (LLC) and professional corporations (PC).
  • Taxation of the company: You may elect to be a subchapter S corporation once incorporated. This designation is unique to the IRS and carries with it certain tax rules and regulations. A knowledgeable tax specialist who has legal knowledge can explain this designation to you and guide you to the proper choice as to whether you should designate your business as an S corporation.
  • Articles of incorporation and bylaws: These are the rules and procedures that set forth how your business will operate.

The legal requirements for business formation are many, creating a need for a legal professional well versed in accounting and tax principles. For help forming a business, contact a skilled Bethesda business attorney. Call today to schedule a free one-hour consultation.

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