Maine Corporation Requirements

Each state has different requirements for forming a corporation. Whether you are starting a business or incorporating a business already in existence, you’ll want to understand state requirements for Maine incorporation.

Cost to incorporate in Maine

At BizFilings, we clearly outline our fees and the state fees to form a Maine corporation. View our pricing to incorporate as a C corporation or S corporation to plainly see:

• BizFilings’ package prices. BizFilings offers three incorporation service packages from which you can choose.
• State fee for standard turn-around. Our pricing clearly shows the state fee to incorporate in Maine with standard turn-around.
• Expedited turn-around. You will see the BizFilings and state fee, if any, for expedited turn-around.
• Certified copy. Our pricing also clearly displays the BizFilings and state fee, if any, for issuing a Certified Copy of the Articles of Incorporation.

Corporate Name

The corporation’s name must contain the word "Corporation," "Incorporated," "Limited," "Company" or an abbreviation thereof. The name cannot be any name that is the same as or deceptively similar to the name of any domestic corporation or foreign-qualified corporation without authorization. The name cannot utilize a reserved name. The name shall not contain any word or phrase indicating it is organized for any purpose not permitted by Maine law.

Director information

The following are Maine’s requirements for directors of corporations:

• Minimum number. Corporations must have one or more directors.
• Residence requirements. Maine does not have a provision specifying where directors must reside.
• Age requirements. Maine does not have age requirements.
• Inclusion in the Articles of Incorporation. Director names and addresses are not required to be listed in the Articles of Incorporation.

Requirements for the Articles of Incorporation

The document required to form a corporation in Maine is called the Articles of Incorporation. The information required in the formation document varies by state. Maine's requirements include:

• Officers. Officer names and addresses are not required to be listed in the Articles of Incorporation.
• Stock. Authorized shares must be listed in the Articles of Incorporation. An increase in the number of shares can affect initial filing fees.
• Registered agent. Corporations must list the name and address of a registered agent with a physical address (no post office boxes) in Maine. The registered agent must be available during normal business hours to accept important legal and tax documents for the business.

Professional services businesses

Maine allows professionals, such as accountants, attorneys and physicians, to form a professional corporation (PC).

After forming a corporation, you must undertake certain steps on an ongoing basis to keep your business in compliance. These steps are also important in preserving the limited liability a corporation provides its owners. This guide outlines the ongoing requirements for Maine corporations.

Corporate records

Maine corporations must keep the following at the principal office with their corporate records:

• The Articles of Incorporation and any amendments
• Bylaws or restated bylaws and any amendments
• Resolutions adopted by the board of directors creating one or more classes or series of shares and fixing their relative rights, preferences and limitations
• Minutes of director and shareholder meetings for the past three years
• A records of action taken by the directors or shareholders without a meeting for the past three years
• A record of all actions taken by a committee of the board of directors in place of the board of directors
• Written communications to shareholders, including financial records, for the past three years
• A list of the names and addresses of shareholders in alphabetical order by class of shares and showing number and class of shares
• A list of names and business addresses of current directors and officers
• Most recent annual report

Corporate taxes and fees

The following are taxation requirements and ongoing fees for Maine corporations:

• Annual report. Maine requires corporations to file an annual report by June 1. The annual report fee is $85.
• Taxes. For complete details on state taxes for Maine corporations, visit Business Owner's Toolkit or the State of Maine .
• Federal tax identification number (EIN). An EIN is required for corporations that will have employees. Additionally, most banks require an EIN in order to open a business bank account.
• State tax identification number. Maine does not require a state tax identification number.

Business licenses

Business licenses and/or permits are required for most businesses. The BizFilings Business License Application Package can help you stay on top of these requirements.

S corporation election

Maine recognizes the federal S corporation election and does not require a state-level S corporation election.

Additional Maine information

View the following additional resources BizFilings has for forming and maintaining companies in Maine:

• Maine LLC Formation