If you’re planning to move your business to Maryland, you’ll first have to file paperwork with the Maryland State Department of Assessments and Taxation (SDAT). Here’s what to know:
Can I move my LLC to Maryland?
Yes. You have a couple options for doing business as an LLC in Maryland:
- Form a new LLC – This will require you to dissolve your LLC in your current state of formation. Then, after dissolution and winding up, you can form a new Maryland LLC with the same name and configuration. (But before you file your formation documents, definitely use Maryland’s Business Entity Search to make sure your LLC name is available for use in the state.)
- Register as a foreign LLC – Registering a Foreign LLC in Maryland allows you to conduct business in Maryland, while keeping your LLC registered in its current state. This might be helpful if you intend to keep doing business in the state you’re moving away from. However, if you decide to go this route, just know that you’ll have to pay annual fees in two states.
How much does it cost to move an LLC to Maryland?
It depends. Whether you form a new Maryland LLC (and file Maryland Articles of Organization) or register a foreign LLC in Maryland, you’ll have to pay a $100 filing fee. But there are other costs associated with moving a business to a new state that will vary depending on the scope of your business operations and the laws of your LLC’s current state of domicile (i.e. the state in which your LLC is currently registered).
To ensure that you make the best move for your business financially, you might want to consult with a business attorney or CPA.
Does Maryland offer LLC domestication?
No. Domestication—the state-assisted process of moving a business from one state to another—is often the easiest and most cost-effective way to move a business to another state. Unfortunately, Maryland is one of a handful of states without domestication laws.