Maryland LLC | How to Start an LLC In Maryland [Video]

Learn all the steps to create a Maryland LLC in this detailed guide on How to Start an LLC In Maryland.
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Learn all the steps to create a Maryland LLC in this detailed guide on How to Start an LLC In Maryland.

Timestamp Section:
00:00 Intro
01:04 What is an LLC?
02:07 DIY Approach
02:34 Choosing Name for Your LLC
04:19 Choose a Registered Agent
05:01 File The Articles of Organization
05:38 Create an Operation Agreement
06:26 Apply for an EIN
06:52 Prepare To Pay The Necessary Taxes
07:58 File Annual Reports
08:34 Alternative Way
09:38 What is Tailor Brands?
10:26 Specify Your State
10:45 Answering Pretty Simple Question
12:35 Choosing Plans
13:14 Conclusion
14:19 Outro

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Introduction & What is an LLC?
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Welcome back! In today’s video, I’ll guide you through two ways to set up an LLC in Maryland: doing it yourself or using Tailor Brands. First, what exactly is an LLC? A Limited Liability Company combines the flexibility of a partnership with the liability protection of a corporation. By forming an LLC, you create a separate legal entity for your business, keeping personal assets safe from any liabilities. It also offers flexibility in management and taxation options, making it a popular choice for entrepreneurs.

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DIY Approach to Setting Up an LLC in Maryland
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To set up your LLC on your own, you’ll first need to choose a unique name that includes “Limited Liability Company” or its abbreviation. Maryland has basic requirements for naming, but make sure it doesn’t conflict with other businesses. Next, choose a registered agent (a person or service responsible for receiving legal documents), then file the Articles of Organization with the state for a $100 fee.

You’ll also want to create an operating agreement, even if Maryland doesn’t require it, as it outlines ownership and management structures. Don’t forget to apply for an Employer Identification Number (EIN) and be ready to file annual reports and pay the required taxes.

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Using Tailor Brands for LLC Formation
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For a simpler route, consider Tailor Brands, a professional service that handles all the paperwork and legal requirements for you. Tailor Brands makes the LLC formation process easy and efficient, especially for first-time business owners. By answering a few basic questions, they take care of the filing, offer a free business plan, and even provide coaching on taxes, compliance, and digital marketing.

Their three-tiered plans fit every budget, and with additional services like website creation and branding, it’s a great choice for those who want to focus on growing their business rather than getting bogged down in the paperwork.

Hope you enjoyed my Maryland LLC | How to Start an LLC In Maryland Video.