How to Start a Business in Maryland

Detailed guide with helpful information on Maryland fees, requirements, licenses, and formation. Includes resources, FAQs, and downloadable checklist.

Updated on September 29th, 2019

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Maryland is rated as the U.S. state with the highest business survival rate and had 561,837 small businesses in 2016, which formed 97.5% of Maryland businesses.

How to Start a Business in Maryland Checklist - Free PDF

Stay on task and cover all of the steps with this handy checklist in PDF format.

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Minimum Vehicle Insurance Coverage For Your Business in Maryland:

Insurance

Minimum Coverage

Bodily injury per person.

$30,000

Bodily injury for two or more persons.

$60,000

Property damage caused by your vehicle.

$15,000

8. Hire employees and report them to the State of Maryland.

If you hire or re-hire employees for your business in Maryland, you are required by Federal and State law to report them within 20 days to the Maryland State Directory of New Hire.

SDAT offers the New Maryland Workforce Expressway​, which is a new workforce development section on the Maryland Business Express site that offers education, employment, training, and regulatory services to connect your business with talent.

9. Keep up with ongoing requirements.

There are some requirements that are ongoing in Maryland, even after you start your business.

For instance, your Maryland trade name expires after five years and needs to be renewed within six months of expiration.

How much does it cost to start a business in Maryland?

Fee Type

Cost

Corporation

$100.00 plus a $20.00 organization fee

LLC

$100.00 plus a $50.00 expedited fee, and 3% service fee for online filings

Trade name for sole proprietorship

$25.00

Final Thoughts:

With plenty of online resources and the highest business survival rate in the U.S., the Old Line State is an ideal place to start your business. If you are starting a business in Maryland, use these steps and tips to create a legal business entity.

To learn more about starting your own business, check out How to Start a Business.

Other How to Articles for the Region:

FAQs:

How do I setup an LLC in Maryland?

  • Name your Maryland LLC.
  • Choose a resident agent.
  • File the Articles of Organization.
  • Create an Operating Agreement.
  • Get an EIN.

Learn more about how to start a business in Maryland.

How do I get a business license in MD?

You can obtain a business license from the Comptroller of Maryland that provides a Combined Registration Application which enables your business to register for a variety of business licenses.

Read more about how to start a business in Maryland.

How much does it cost to start a business in Maryland?

If you start a corporation in Maryland, the cost is $100.00 plus a $20.00 organization fee while if you start an LLC, the cost is $100.00 plus a $50.00 expedited fee, and 3% service fee for online filings.

Read more about startup costs in Maryland.

Do I need to register my business in Maryland?

Yes. You can register your business in Maryland with SDAT here.

You also need to register your business for taxation in Maryland with the Comptroller of Maryland.

See more details about how to start a business in Maryland.

Most Common Business Entities in Maryland

What are the most common business entities in Maryland?

  • Sole proprietorships.
  • Partnerships.
  • Corporations.
  • LLCs.

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Best Banks for Small Businesses in Maryland

What are the best banks for small businesses in Maryland?

Get more information on how to start a business in Maryland.

How do I start a Maryland small business?

There are a few steps you need to follow to start your Maryland small business, starting with creating a business entity and registering your business name. You also need to apply for an EIN, open a business bank account., register for State taxes, apply for licenses and permits, purchase insurance., and report your employees to the State.

Se more details about how to start a business in Maryland.