Information on the 50 States and the District of columbia

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Incorporating in Maine

Corporate Name Requirements

* The name cannot use any name the same as or deceptively similar to the name of any domestic corporation or qualified foreign corporation without authorization. The name cannot use a reserved name. The name shall not contain any word or phrase which indicates it is organized for any purpose not permitted by the Act.

Articles of Incorporation Requirements

Director Information

  • Minimum Number – Three or more. If only one or two shareholders, the number of directors can be less than three but not less than the number of shareholders.
  • Residence Requirements. – No provision.
  • Age Requirements – None.
  • Directors are required to be listed in the articles of incorporation.

Officer Information

  • The officers are not required to be listed in the articles of incorporation.

Stock Information

  • An increase in the shares may cause an increase in the initial filing fee.

Yearly Requirements

Annual Statements

  • File annually, on a staggered basis as determined by Secretary of State, for preceding 12-month period a $60 fee must accompany report.

Income Tax Rate

For tax years beginning on or after January 1, 2018, the Maine corporate tax rates are as follows:

If adjusted federal taxable income is:

Greater than But not over The gross tax is:
$0 $350,000 3.5% of adjusted federal taxable income
$350,000 $1,050,000 $12,250 plus 7.93% of the excess over $350,000
$1,050,000 $3,500,000 $67,760 plus 8.33% of the excess over $1,050,000
$3,500,000 or more $271,845 plus 8.93% of the excess over $3,500,000

For more information on taxes, visit Maine Revenue Services

 

C-Corporation

  • Shareholders have limited liability protection
  • May be listed and traded as a publiccorporation on the stock market or “over the counter”
  • Has a separate and independent tax status from its owners
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S Corporation

  • Profits are not subject to “double taxation”
  • Corporate losses may be “passed through” to share holders
  • Shareholders are afforded the same protection as C Corp.
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LLC formation

  • Contains characteristics of both corporation and partnership
  • Shareholders may take advantage of “Pass-Through” taxation
  • Limited liability for share holders
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Not for profit corp

  • Eligible for tax-exempt status
  • Limited Liability protection
  • Qualify for public and private gains
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